Two corporate finance partners are leaving Bass, Berry & Sims in Washington to join Morrison & Foerster.
John Good and Justin Salon focus their finance work on real estate investment trusts (REIT) and business development companies (BDC).
Morrison & Foerster, based in California, continues to build up its east-coast corporate practice, Good said in an interview. In 2008, Morrison & Foerster recruited partner David Lynn, former chief counsel to the Division of Corporate Finance at the U.S. Securities and Exchange Commission. Lynn is co-chairman of the corporate finance practice. David Slotkin joined Morrison & Foerster from Hogan Lovells in March 2012.
"The firm has quietly built a very substantial public company practice," Good said. "This was a really good platform and we're bringing a number of public company clients with us." Among the clients that Good said will be joining them are AutoZone, Education Realty Trust, Inc. and AmREIT Inc.
Real estate investment trusts, Good said, have proved a particularly solid investment vehicle because of low interest rates that have been around since the recession.
"Investors who traditionally would have invested in CDs are seeing no yield on their investment," Good said. "Since things thawed in early 2009 all the way up until now, we have seen a lot of capital markets activity both in the REIT sector and BDC. I don't see that changing anytime soon. "
Morrison & Foerster has 96 attorneys in the firm’s Washington office, according to the firm website