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King & Spalding’s launch in Germany is noteworthy for a number of reasons. (See story).
Its hire of Heuking corporate partner Michael Prinz zu Lowenstein gives it instant credibility in Frankfurt. However, the recruitment of the in-house team of real estate fund Oppenheim Immobilien-Kapitalanlagegesellschaft, or OIK (never were we more glad to see an acronym), is even more significant.
Ask any German lawyer the hottest area of work and they will tell you it is real estate investment. Funds are currently piling into Germany, and the work is generating serious fees. As if to labour the point, King & Spalding’s new Frankfurt office will be managed by New York real estate heads Scott Arnold and William Fryer.
And Mario Leissner, the former general counsel of OIK, is a catch. It looks like he’ll be taking all his OIK work to King & Spalding for a start – which means the office will be making money from day one.
King & Spalding is best known for being Coca-Cola’s law firm of choice. In Germany, they’ve certainly landed the real thing.