Goodwin to close Frankfurt office and wind down German real estate operations

Following Cleary Gottlieb’s announcement in May of its plans to leave Frankfurt, another U.S. law firm, Goodwin Procter, has confirmed it will also scale back its presence in the city by shutting down its German real estate practice and closing its Frankfurt office later this year.

The firm expressed its appreciation for the trust of its German real estate clients and the dedication of its impacted colleagues, emphasizing its intention to provide support during the transition. Once the Frankfurt office closes, Goodwin’s German presence will be limited to its Munich branch, where the firm will remain committed to the market through its expanding teams in private equity, venture capital, and funds.

Goodwin first entered the Frankfurt market in 2016 and moved into a larger space the following year. The office was originally launched by partners Stephan Kock, Peter Junghänel, Marc Bohne, and Lars Jessen, who had all joined from Ashurst. The Munich office opened in 2022 as part of the firm’s strategy to grow its private equity offering in Germany.

Goodwin’s exit follows news that Cleary Gottlieb Steen & Hamilton will shut its Frankfurt operations in November after 34 years, integrating its local team into its Cologne office. The departure of both firms comes amid a period of growth for other international players in the German legal market (Kirkland & Ellis has launched a Frankfurt office; DLA Piper opened its fifth German location; and Willkie Farr & Gallagher along with Greenberg Traurig have expanded into Munich).

(Pictured: Frankfurt)