Pay It Forward: "I’ve Been Fascinated With Real Estate, Land Use and Environmental Issues For As Long As I Can Remember"
"I have found the most professional growth during the pandemic by serving on CLE panels," says MaryBeth Heydt, partner at DTO Law.
MaryBeth Heydt, DTO Law, Partner, Los Angeles/Silicon Valley, CA.
Practice Area: Commercial Real Estate
Law school and year of graduation: Southwestern University School of Law, 1990
How long have you been at the firm and when did you make partner/? I joined as a partner in 2020.
Why did you decide to practice law in the real estate industry? I’ve been fascinated with real estate, land use and environmental issues for as long as I can remember. So much so that I structured my own dual degree program with my law school and the University of Southern California to earn a Master of Planning degree.
What do you think was the deciding point for the firm in making you partner? I didn’t take a traditional route to a partner position. I spent several years as a litigator and then went in house. After 10 years in house, I went to the business side of commercial real estate finance at a large national bank. In 2019, I became a partner at an AmLaw 100 firm.
When I became a partner the first time, I believe it was a combination of all these factors. I had a proven track record as a lawyer. I worked in ‘law adjacent’ positions at the bank but learned a lot of business savvy along the way. During this time, I kept my foot in the commercial real estate and legal worlds as a member of the Executive Committee of my county bar organization’s commercial real estate section, Commercial Real Estate Women, ULI, ACC and the Commercial Real Estate Finance Council. In fact, it was a former chairperson of the Executive Committee of the county bar commercial real estate section who hired me as a partner at her firm in 2019.
When I became partner the second time at DTO, I believe it was the same combination of factors, plus my in house and AmLaw 100 experience.
Describe how you feel now about your career now that you’ve made partner. In some ways, not much has changed. I am still closing loans, drafting leases and the like. I am still mentoring young lawyers. I am still involved with the CRE bar community, only now at the state level.
In some ways, a lot has changed as I have more business and firm culture responsibilities, such as hiring employees, marketing, participating in DEI activities such as serving on NAMWOLF CLE panels, and finding ways for the firm to maintain our social connections through online events and celebrations during the pandemic. Overall, I feel that my legal and business experience has finally meshed in a comfortable and cohesive way.
What’s the key to successful business development in your opinion and how do you grow professionally while everyone navigating working remotely and in-person? I think the key is to be yourself. A person needs to find methods to network and meet potential clients in a way that suits your personality. I have found the most professional growth during the pandemic by serving on CLE panels. It’s a great way to meet new people on a more intimate level while keeping your saw sharp.
Who had the greatest influence in your career that helped propel you to partner in real estate? Claire Hervey Collins, partner at Hanson Bridgett and Mark Tarango, founding partner at DTO Law. Claire hired me into her former firm as a partner after nine years in banking. She knew me through the county bar and what I could bring to the table. What others saw as a risk because I hadn’t practiced law for a while, she saw as a great opportunity. Mark has deep experience as a former in-house counsel, so he knew my combination of in-house and Big Law experience was a rare and desirable trait in a partner.
What advice you could give an associate who wants to make partner in real estate? Real estate is cyclical. Make it a point to get to know the lawyers who handle workouts at your firm and develop some skills to help your clients through the downcycle as well as the upcycle. Great work is a given, learn how to spot and land great clients too. Get involved in your local bar association. You will get to know colleagues from other firms and build a great network. Plus, some of my best friends are lawyers I met through my county bar association.
What challenges, if any, did you face or had to overcome in your career path and what was the lesson learned? How did it affect or influence your career? The downcycles shaped my career as much, if not more than the upcycles. Each perceived ‘detour’ added a valuable tool to my toolbox.
Knowing what you know now about your career path, what advice would you give to your younger self? Relax and enjoy it more. Don’t sweat the small stuff, it will all work out as it should.
What lessons, if any, did you learn in 2020/2021 (the years of COVID-19)? How quickly the practice of law can change when needed and how resilient we are as lawyers.
