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[Anonymous User]

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[Anonymous User]

Junior associate/all-around RE junkie here.

Kinda a tough call, considering your post provides evidence supporting any of the 3 firms. It seems that the most attractive laterals in RE have a diversity of substantive experience more than anything else, so dirt lawyering helps insofar as it accompanies finance/JV work/whatever (one caveat is if you're trying to lateral to Shit/SmallLaw – those firms are almost entirely dirt work). PH and Sidley probably have a slight edge over Deb in terms of diversity of work, but PH does a bit more development/dirt work than Sidley. But if you have a interest in PE/fund formation, you're right that Deb is the clear winner here. Real estate PE is in some weird way the most profitable/prestigious out of all of the RE subgroups, and you'll definitely get respect in RE circles if you cut your teeth on Blackstone or Oaktree deals or whatever

I would actually strike PH right off the list. Their firm culture is (supposedly) awful and they no-offer a summer associate every once in a while. I would personally choose Sidley over Deb because they are (again, supposedly) known for being chiller and their enormous RE finance and REIT practices would likely lead to better exit options post-BigLaw. But if you're really devoted to RE PE, then Deb is the way to go

Good luck and congrats on the offers

[Anonymous User]

Junior associate/all-around RE junkie here.

Kinda a tough call, considering your post provides evidence supporting any of the 3 firms. It seems that the most attractive laterals in RE have a diversity of substantive experience more than anything else, so dirt lawyering helps insofar as it accompanies finance/JV work/whatever (one caveat is if you're trying to lateral to Shit/SmallLaw – those firms are almost entirely dirt work). PH and Sidley probably have a slight edge over Deb in terms of diversity of work, but PH does a bit more development/dirt work than Sidley. But if you have a interest in PE/fund formation, you're right that Deb is the clear winner here. Real estate PE is in some weird way the most profitable/prestigious out of all of the RE subgroups, and you'll definitely get respect in RE circles if you cut your teeth on Blackstone or Oaktree deals or whatever

I would actually strike PH right off the list. Their firm culture is (supposedly) awful and they no-offer a summer associate every once in a while. I would personally choose Sidley over Deb because they are (again, supposedly) known for being chiller and their enormous RE finance and REIT practices would likely lead to better exit options post-BigLaw. But if you're really devoted to RE PE, then Deb is the way to go

Good luck and congrats on the offers

Just FYI, Sidley's RE practice is incredibly lender finance-heavy. To the extent you are interested in the development/dirt work mentioned previously, don't think you would get many opportunities at Sidley NY. Think more along the lines of representing major banks in loans to developers, refinancing, representing banks in securitizations, and some low-income housing tax credit/RE hybrid work.

[Anonymous User]

Summered at Sidley NY. Real Estate partners as people are awesome. Quite the lively bunch, to put it mildly. I can't comment on the quality of the work because I was never interested in it. Though I can offer that it's a relatively small group, so no guarantee that you'll be placed in real estate even if you request it.

[Anonymous User]

I have worked at Debevoise, but not in the real estate group. If you 100% want to do real estate it's worth talking to some real estate people at Debevoise to make sure you are likely to get a spot in the group. The group is quite small at Debevoise and while you get to say your preference, if other people in your class want real estate I'd be a little worried there's a chance you get left out. There is a rotation system, but I'm thinking more about when you pick your permanent group after your two rotations. I don't have any firsthand knowledge of people getting left out of real estate and I don't think there are tons of associates coming in knowing they want to do real estate, but it's something worth digging a little further on.

[Anonymous User]

I have worked at Debevoise, but not in the real estate group. If you 100% want to do real estate it's worth talking to some real estate people at Debevoise to make sure you are likely to get a spot in the group. The group is quite small at Debevoise and while you get to say your preference, if other people in your class want real estate I'd be a little worried there's a chance you get left out. There is a rotation system, but I'm thinking more about when you pick your permanent group after your two rotations. I don't have any firsthand knowledge of people getting left out of real estate and I don't think there are tons of associates coming in knowing they want to do real estate, but it's something worth digging a little further on.

First OP here.

The above is actually more important than anything I mentioned in my post. If you're truly interested in RE, go to the firm that has the proportionately largest RE group. A firm that is 95% corporate/M&A will likely try to put you there instead of real estate, for obvious reasons

[Anonymous User]

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