In good sign for market, major law firm beefs up real estate practice

5/5/2015
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In good sign for market, major law firm beefs up real estate prac | www.statesman.com
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In good sign for market, major law
firm beefs up real estate practice
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 8:49 p.m. Wednesday, Oct. 5, 2011 | Filed in: Business
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In a sign that experts anticipate a rebound in the region's real estate market, the
influential Winstead law firm has moved to expand its real estate practice, luring
veteran Austin real estate attorney Steve Drenner and his team away from the firm
he co­founded.
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Pete Winstead, founding shareholder of Winstead PC, one of the largest business
law firms both locally and statewide, said the move came about because the
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Central Texas real estate market is "poised on the head of a rocket."
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"It's off life support and sitting up and taking nourishment. And I think it will be out
of bed and walking down the hall shortly," Winstead said. "We see activity coming
back."
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Drenner is making the switch with his
entire team from Drenner & Golden
Stuart Wolff LLP. The others are attorney
John Donisi, now a Winstead
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shareholder, along with Michele
Haussmann, director of planning and
development; project managers Amanda
Swor and Ashley Parsons; and legal
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secretary Heather Kuhn.
Drenner specializes in obtaining zoning
changes, variances and entitlements for
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Steve Drenner is a veteran real estate attorney.
his developer clients in the Austin area
and other Texas cities.
Clients include H­E­B, the region's dominant grocer, as well as Endeavor Real
Estate Group, Stratus Properties Inc., Simon Property Group Inc., American
Campus Communities and Cousins Properties, which developed the Frost Tower
on Congress Avenue in downtown Austin.
In his new group, Winstead's Real Estate Development and Investments Practice
Group, Drenner will work with clients in Austin, San Antonio and across the Central
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In good sign for market, major law firm beefs up real estate prac | www.statesman.com
Texas region. Drenner could not be reached for
comment Wednesday.
Winstead said the addition of Drenner and his team is a
strategic move for the Winstead firm, coming as the
local real estate market is rebounding from a slowdown
that saw financing for new development dry up locally
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and nationwide.
"I couldn't be more pumped," Winstead said. "It's the
biggest news in the legal market in Austin in 10 years."
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Pete Winstead says addition is a strategic move.
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With Drenner and Donisi, Winstead has made 57
attorney hires companywide this year, including the
Bob Burton group in Austin. The Burton group is a real estate team that represents
national, regional and local clients in the acquisition, development, operation and
administration of residential and mixed use, condominium and master­planned
communities.
"We're adding people. We're getting bullish," Winstead said. He noted that major
deals are proceeding or are on the cusp of moving forward, from the Formula One
racetrack under construction in Travis County, to the state's new effort to seek
unsolicited proposals for public­private partnerships for projects, to downtown
projects that are on the verge of moving ahead .
"Money has been on the sidelines, but we're seeing more activity" and seeing
funding "freeing up for new projects," Winstead said.
The Winstead firm has 300 lawyers in eight cities: Austin; Dallas; Fort Worth;
Houston; San Antonio; The Woodlands near Houston; Charlotte, N.C.; and
Washington, D.C.
Don Stuart, Drenner's longtime law partner with whom he has practiced for more
than 30 years, said the parting was amicable.
"It's always sad for a good friend to leave, but it's a good opportunity for Steve,"
Stuart said. He said the move will give Drenner a statewide presence for his work.
With Drenner and Donisi's departures, Stuart said Golden Stuart and Wolff still has
about 17 lawyers in Austin and San Antonio. Stuart said the remaining group
intends to stay together, focusing as before on real estate, business and tax law.
"We're all happy for him," Stuart said of Drenner. "This is a friendly deal."
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