Real Estate Section Leader Joseph Guay was interviewed for article in The American Lawyer discussing how the work of lawyers, especially practice leaders, has been altered because of the coronavirus and subsequent economic downturn. He explained that although he continues to wrap up larger deals already in motion before the pandemic, his work has largely shifted toward advising landlords and hoteliers on legal questions and federal assistance. When comparing the current situation to the Great Recession, he expressed optimism, saying that markets have not been hit as hard and that lenders are already picking deals back up.
"The day before Lehman Brothers announced bankruptcy there were 15 deals on my desk, and after there was one," he said. "This time around, private equity and the banks are in pretty good condition...Right now, people are seeing that pricing is attractive. Maybe not in the third quarter, but in the fourth quarter you're going to start seeing great deal flow."
READ: An Overnight Shift: How the Pandemic Has Radically Changed the Role of Practice Leader (Subscription required)
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