Miles & Stockbridge merges with DC real estate law firm

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Baltimore-based Am Law 200 firm Miles & Stockbridge announced Tuesday that it will merge with Washington, D.C.-based real estate finance law firm Krooth & Altman.

The merger adds 51 employees to Miles & Stockbridge, including 22 principals, eight paralegals and 21 support staff. More than 200 lawyers will work in the merged firm.

“We are excited about the possibility of this merger and have already established strong relationships with the leadership team and attorneys through this process,” Nancy Greene, chairman, president and CEO of Miles & Stockbridge, said in a press release.

Krooth & Altman joins the larger firm’s finance and real estate division. Krooth specializes in financing that includes loans insured by the U.S. Department of Housing and Urban Development and loans provided by “government-sponsored entities” such as Fannie Mae and Freddie Mac.

“Miles & Stockbridge will now be able to offer this niche experience to real estate clients, while the Krooth & Altman team will have access to the relevant practices and resources their clients often need, including tax, environmental, healthcare, litigation and bankruptcy.” release states.

“This highly specialized area complements Miles & Stockbridge’s real estate financing offerings,” Greene added.

Miles & Stockbridge’s board of directors approved the plan, and the firm’s principals and Krooth & Altman partners voted separately to close the deal by the end of the year.

“There is a great deal of mutual respect between our firms,” said Melissa Johnson, partner and management committee member at Krooth & Altman. “This is a win-win situation for everyone.”

With this move, Miles & Stockbridge will “continue its strategic expansion on the East Coast,” the press release states. The addition of Krooth means Miles & Stockbridge now has two offices in Washington. Krooth staff will continue to work in DC offices, at least for now.

The announcement follows the firm’s expansion into New York with an office in Midtown Manhattan earlier this year. It expanded its pre-existing Richmond office last year.