Friday, September 28, 2007

Law firms getting in on the act -- as real estate investors

That's what it looks like, and I think it is nicely done. The investment arm of a Baltimore law firm, according to this report, has bought an industrial site from a pharmaceutical company. I like the way the firm is doing this: as a separate arm in which the partners can presumably invest. By buying their own dirt, they eliminate any ethical considerations that may come in to play if a lawyer wants to go in with a client and take a piece of the action. All they need is business savvy. Some say lawyers are lawyers because they don't know business, but I know some that don't fit that stereotypical mold.