Preparing for increased demand in commercial real estate as the economy improves, McGuireWoods added Mason Mote, the former general counsel of a Houston real estate investment firm, as a real estate partner in Houston and Austin.
Mote, who joined McGuireWoods on Wednesday, said many real estate companies are currently involved in debt restructuring and refinancing as a result of the COVID-19 economic downturn, but he sees a big growth potential in Texas, particularly in the Austin market.
“There’s a big focus and a big push with some clients the firm has, focusing on that market,” said Mote, who was general counsel and executive vice president at Williamsburg Enterprises until March.
He expects real estate deal flow to improve as private equity companies look for places to put their money, but he said there is real estate work ongoing right now, such as construction projects and completing work on loans that started before the pandemic affected the economy.
Yasser Madriz, managing partner of McGuireWoods’ Houston office, said in a press release that Mote is a key addition who will bolster the office’s strength in real estate and related banking and finance sectors.
Mote said he considered several firms after leaving Williamsburg Enterprises, but McGuireWoods, with its practices and span of offices, is well-situated to provide value to clients. Also, he formerly worked with Madriz at Haynes and Boone.
Mote, an associate at Haynes and Boone before his 14-month in-house stint, said that while he learned much as GC, he wanted to get back to the day-to-day work of handling real estate deals at a firm. He represents lenders and borrowers in commercial real estate transactions, and developers, buyers and sellers in development of real estate property.
“I did miss the law firm experience, working with folks, getting out, networking with people and also being involved on the other side of the table,” Mote said.