Name & Title: Diana Brummer, Partner
Company Name: Goodwin Procter LLP
Address: The New York Times Building, 620 Eighth Avenue, New York, New York 10018
Social Media: Linkedin.com/in/dianabrummer
What was your most notable project, deal, transaction or professional achievement in 2018?
I represented Mack Real Estate Credit Strategies in its $380 million construction loan to a Penzance-led venture on a site in West Rosslyn, Virginia, just across the Potomac from Washington, D.C. to fund construction of a 1,200,000 sf mixed use development. This notable project had a bit of everything – a municipal ground lease, an obligation of the developer to construct a firehouse and deed it to the municipality, a condominium component and both mortgage debt and mezzanine debt, among other things. It highlights the continued trend of large-scale developments just outside of the traditional metropolitan core in major markets.
What was the best decision that you made in 2018 and how did it impact your business?
My best decision was joining Goodwin Procter LLP. Given that NYC continues to be a premier destination for commercial real estate transactions, New York is a priority for Goodwin’s continued expansion of its national real estate practice. I was excited to join a firm with both a stellar national practice and a commitment to servicing evolving client needs on an international basis. Collaboration among the real estate transactional team and the top-notch real estate funds and REIT teams, as well as the tax practice, is a significant benefit to my ability to meet various aspects of my clients needs.
What market trend(s) will impact your industry in 2019?
Technology is rapidly changing the way real estate is owned, operated and conceived. It is changing the way communities and hardscapes are shaped. It is impacting investment underwriting and portfolio assembly and management, and it is driving markets and asset classes. I expect these trends to continue to accelerate and look forward to assisting clients as they raise capital to invest in PropTech and adopt technology as a core part of their real estate strategies. As the industry matures, I expect to see an increase in M&A work between tech companies and among tech and real estate firms.