Real estate partner, Christopher M. Addesa focuses on commercial real estate and real estate lending. Chris represents national and regional lenders in a variety of transactions and attributes much of his success to lessons learned from mentors and college athletics. In our conversation, Chris shared the advice he would give his younger self, how Hinckley Allen has contributed to his success, and the issues he sees facing commercial real estate right now.
What advice would you give to yourself 15 years ago?
Don’t wait for the perfect answer. Early in my career, I discovered that it was much better to keep clients informed, even when I did not have news to share. It is critical to let clients and team members know that they are top of mind and that you are thinking about their matters even if you are in a holding pattern.
Why have you chosen to stay at Hinckley Allen for the last decade?
The answer is simple – any organization is only as good as the people working for it. I have had the privilege of working with so many talented attorneys at Hinckley Allen and two in particular stand out. Scott Cooper and David Connolly, who in addition to being exceptional legal minds, are also two of the best human beings I have ever met. They have both been excellent mentors to me.
My experience at Hinckley Allen has been so fulfilling because I work with a great group of people. Our legal administrative assistants are excellent, and our associates are talented and enthusiastic. The firm has cultivated an environment that is supportive and friendly. It really is a great place to work.
It is also a firm that attracts a great variety of clients. We work with large corporations, as well as smaller startups and we are well-positioned to effectively serve both kinds of clients.
How do your clients benefit from the lessons you learned playing college sports?
I played ice hockey in college. I was a goalie, and that position requires a lot of careful assessment and patience. To be a successful goalie, you need to evaluate, assess, and then react. It is a position that requires incredible patience. If the goalie is impulsive or panicked, the other five players on the ice have a tendency to get rattled. A goalie is very instrumental in setting the tone for the game and I see that as a parallel to my work as a lawyer.
I enjoy setting the tone for the deal. Lessons from the ice have certainly helped in assessing the wants and needs of each side. My goal is to represent our clients in a way that allows for efficient negotiation of a deal upon which both sides can agree. As attorneys, we juggle multiple competing interests both in transactions and demands on our time. Just as I had to constantly assess plays on the ice and anticipate the opposing team’s next move, as an attorney I work similarly. My mind is moving quickly to prepare for the next step in the deal, but I am walking through each decision with my clients methodically to ensure they feel confident and included in the process.
How do you approach work-life balance?
There is no question that being a successful lawyer is unbelievably demanding, however, it is a priority for me to spend meaningful time with my wife and two sons. For instance, I coach my sons’ hockey and baseball teams. Making this personal commitment requires a great deal of juggling, prioritizing, and communication. I work diligently to consistently deliver top notch service to my clients. Ultimately, I have built a lot of trust with my clients and colleagues, and we work together to prioritize, delegate, and get the work done. This is all possible because I work with great people who are very supportive of one another.
What have you seen happening in real estate development lately?
The industry has slowed down considerably. Interest rates have increased, and many larger banks have slowed their lending activities for various reasons. As a result, construction projects in the planning stages have been scrapped or are on hold because they do not have funding or the anticipated cost to complete is significantly greater than anticipated at the outset. Lack of lending, inflation, and increased cost of materials has significantly slowed development.
The upside is that some smaller, regional banks have continued to be very competitive and have money to lend. These circumstances present a unique opportunity for smaller banks to be active in the near term.
