Vantage Law Group
Vantage Law Group, located in southeast Minneapolis, started with lawyers who decided not to work in a large firm environment.
“We are a smaller firm that focuses on commercial real estate. We don’t dabble in other types of law, including litigation. We focus on sophisticated real estate transactions,” said Christine Eid, who left Stinson to join colleagues at Vantage. They bring their big law firm experience and their own expertise to clients, she explained. “Clients get the same representation as with a large firm, but it’s less expensive.”
At the time that Eid spoke with Minnesota Lawyer, several banks had failed.
“The future is a bit murky, with recession anxiety, interest rates increasing, bank failures,” Eid said. “The supply chain is still a big issue. We’re seeing projects on hold but we’re also still seeing a lot of activity. Some markets are challenged, for office space in particular, but others move forward. It’s definitely not as hot,” she said.
Her construction clients are proceeding carefully, Eid said. “They are doing a ton of due diligence, keeping a close eye on [their projects] especially with construction costs, both labor and materials, supply chain for materials, and labor costs.”
Vantage also represents banks. “Our banks are solid. We’re seeing what our clients are hearing,” she said. “The market forces are all over the board, which means the clients are not affected more than all of us,” she said. Real estate sellers are finding it more difficult because buyers want lower prices, Eid said.
At the same time, the market is “cautiously optimistic,” Eid said. “People are looking for places to put their money. Real estate is one of those assets that could diversify a portfolio. There’s dry powder out there.”