Shearmans boosts New York property

Shearman & Sterling is ramping up its New York real estate practice with the hire of a team from the New York office of Los Angeles firm O’Melveny & Myers.`Partner Malcolm Kratzer is moving with three assistants to boost the firm’s capability in real estate finance and investments.`His clients include Deutsche Bank, Lehman Brothers Holdings, Metropolitan Life Insurance, the Prudential Insurance Company of America and Dai-ichi Mutual Life Insurance Company.`He advises on single and multi-site secured financings, complex loan restructurings and workouts, commercial mortgage loan securitisations and purchase and sale transactions involving limited liability companies and other equity vehicles.`Head of property Chris Smith said the move is a big boost to the group, which boasts 32 lawyers. He said: “This will significantly enhance our ability to offer a broader array of services to existing and future clients, particularly in public capital markets and private debt markets.”`Shearmans’ property group clients include Credit Suisse First Boston, Kuwait Investment, Viacom and HypoVereinsbank.