While there are comments that we are late in the cycle, clients also haven't started to shift their strategy. Miller says that regardless of the cycle, there is always a time to buy and sell, depending on the asset. “With the exception of people like life companies, people are holding properties ultimately to sell it,” he explains. “Most investors are going to be buyers and sellers, not for the same asset at the same time, but at the same time for different assets.”

LOS ANGELES—Allen Matkins has hired O'Malley Miller as a partner in the firm's Los Angeles office. Miller joins the firm from Munger Tolles & Olson LLP, where he was a partner. Interestingly, he began his career at Allen Matkins when the firm had just begun, and was the eighth attorney to join the firm. He represents a broad range of clients in his practice, from big name institutional investors and developers to private companies involved in single real estate deals.

“Coming to Allen Matkins is a great move for me because it certainly has the deepest bench in the Western United States,” Miller tells GlobeSt.com. “My personal practice has always been pretty diverse. I represent lenders, investors, developers and I do real estate finance work, workouts, acquisitions, dispositions. I represent people that are in all facets of the real estate business, and to be able to rely upon specific experts in each of those areas is a great luxury.”

Miller's stable of real estate clients haven't started to slow their activity, despite being late in the cycle. “I hear a lot of people saying that we are in the last innings. I have no idea where we are in the cycle, but all I know is that there are cycles,” he says. “Many of my clients are selling developed properties, and that is because they are able to get high pricing. I have other clients that are actively buying properties, because in the long run they want to be invested in the best properties and the properties with the most upside. It doesn't feel like a recession now. It feels like people are going to continue to do transactions.”

While there are comments that we are late in the cycle, clients also haven't started to shift their strategy. Miller says that regardless of the cycle, there is always a time to buy and sell, depending on the asset. “With the exception of people like life companies, people are holding properties ultimately to sell it,” he explains. “Most investors are going to be buyers and sellers, not for the same asset at the same time, but at the same time for different assets.”