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Shiukay Hung

Shiukay Hung

Partner
Co-Chair, National REIT Tax Practice
The REIT tax team led by Shiukay Hung is one of the top REIT-focused tax practices in the country.
— Legal 500
New York
About

Shiukay Hung is a Partner in the New York office of DLA Piper and Co-Chair of the National REIT Tax Practice. He is recognized as a leading tax lawyer by both Chambers USA and Legal 500.

Shiukay's tax practice focuses on representing Canadian pension funds, sovereign wealth funds (SWFs), non-US family offices, REITs, and asset managers. He represents clients on joint ventures, fund formation, REIT formation and operation, M&A transactions, private credit transactions, debt workouts, and restructurings.

Shiukay leverages his prior experience as an in-house counsel at a leading investment manager to provide his clients with practical advice that is guided by industry best practices. He actively participates in bar associations and industry groups and serves as Co-Chair of the Tax Policy Subcommittee of the Institute for Portfolio Alternatives.  

Shiukay is a leading authority on tax matters and frequently speaks at industry conferences. His insights have been featured in publications such as Bloomberg, Law360, Tax Notes, the Private Equity Law Report, LexisNexis and the Real Estate Finance Journal. He is also a contributing author of the treatise "The AFIRE Guide to U.S. Real Estate Investing: What Global Investors Need to Know About Commercial Real Estate Acquisition, Management, and Disposition," published by McGraw-Hill (4th ed., 2023).

Areas of FocusTaxReal EstateInvestment Management and Funds
Bar admissionsBritish ColumbiaNew York

EXPERIENCE

Sovereign Wealth Funds and Foreign Pension Funds
  • Represented sovereign wealth funds and foreign pension funds in their investments in real estate private equity funds and joint ventures, private equity funds, hedge funds, and credit funds
Real Estate Private Equity
  • Representing a Canadian pension fund on a US$15 billion joint venture to build a data center portfolio throughout the US using a private REIT structure
  • Represented a Canadian pension fund in a US$2 billion sale of a trophy office building in New York City
  • Represented a Canadian pension fund in its programmatic joint venture for the acquisition, financing and development of US$1 billion of industrial outdoor storage/service facilities throughout the US through a private REIT structure
Private Credit
  • Represented a Canadian pension fund in a joint venture to originate and/or acquire between US$500 million and US$700 million of debt investments, including mortgage loans, mezzanine loans and subordinated debt
  • Ongoing representation of a Canadian pension fund in its US credit platform
  • Represented a Canadian pension fund in a joint venture to acquire US$300 million of mortgage loans through a mortgage REIT vehicle
Public REITs and Non-Traded REITs
  • Ongoing representation of non-traded mortgage REITs and non-traded equity REITs including programs sponsored by Ares, EQT, and Goldman Sachs
  • Represented a lead investor in Lineage, Inc.’s US$4.4 billion IPO
  • Represented Resource REIT, Inc. in its US$3.7 billion cash merger with Blackstone Real Estate Income Trust, Inc.
  • Represented Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Wells Fargo, LLC, and BofA Securities, Inc., as the joint book-running managers in the $288 million IPO of FrontView REIT, Inc. (NYSE: FVR)
  • Ongoing representation of Getty Realty Corp. (NYSE: GTY) in its $350 million “at-the-market” common stock offering
  • Ongoing representation of several REITs listed on the Singapore Exchange (SGX) that own a portfolio of US real estate through a US REIT
Restructuring and Debt Workouts
  • Ongoing representation of a private REIT in its debt workouts with lenders
  • Represented Pennsylvania Real Estate Investment Trust (now PREIT Realty) in its financial and corporate restructuring under Chapter 11 of the US Bankruptcy Code
Education
  • LL.M., Harvard Law School
  • J.D., University of British Columbia
    Wesbrook Scholar
  • B.Sc., University of British Columbia
    Honors

Awards

Shiukay is ranked by Chambers USA and recognized by Legal 500 as a leading partner.

Chambers USA

  • Ranked, Nationwide REITs: Tax, (2023-2024)

Legal 500

  • Leading Partner, REITs, (2023-2024)
  • Recognized, REITs, (2022-2024)
  • Recognized, US Taxes: Non-Contentious, (2024)

Clients say:

Chambers USA

  • "Shiukay is a very bright tax attorney in the REIT space."
  • "He is very easy to work with, technical and practical."
  • "Shiukay provides excellent client services and solid advice."
  • Shiukay "is extremely responsive and thinks commercially through complex and sophisticated matters."
     

Legal 500

  • "The REIT tax team led by Shiukay Hung is one of the top REIT-focused tax practices in the country. Shiukay is uniquely able to meld his private sector experience with his deep knowledge of the highly technical REIT rules and industry practices to advise clients on thorny tax issues and judiciously guide clients with respect to best practices. He delivers practical client-focused advice on an extremely wide range of REIT-related matters from highly specific services to issues specific to REITs operating within real estate fund structures."
  • "The DLA REIT practice in NY is anchored by Shiukay Hung who is one of the premier REIT tax practitioners in the country. He is practicable, easy to work with and given his extensive REIT knowledge finds solutions to problems before they even arise."
  • "Shiukay has years of experience and great insights in dealing with REITs. He is a deep thinker that was always willing to help solve difficult questions, and constantly producing publication to help clients and peers navigate complex REIT rules. I have in many occasion inquired Shiukay on various issues I have encountered in transactions involving REITs and have always be very grateful for Shiukay's advice."
  • Shiukay is "top-notch in tax knowledge, razor-sharp in thinking, and is able to explain tax issues to you in such a way that makes you feel you're smarter than you actually are."
  • "Shiukay Hung is a great pleasure to work with. Very proactive, accountable, and a true expert in the REIT space, especially non-traded REITs. Very collaborative."
  • "I enjoy working with Shiukay Hung who is experienced and practical."

Bylines

Seminars

Media Mentions

Memberships And Affiliations

  • Board Member, Harvard Law School Association of New York City
  • Co-Chair, Institute for Portfolio Alternatives (IPA)
    • Tax Policy Subcommittee
  • Member, Real Estate Roundtable, Tax Policy Advisory Committee (TPAC)
  • Member, Tax Club
  • Member, New York Committee of Realty Trust Tax Lawyers
  • Member, National Association of Real Estate Investment Trusts (Nareit)
    • Federal Tax Subcommittee
  • Member, American Bar Association, Section of Taxation
  • Member, New York State Bar Association, Tax Section
  • Member, Association of Foreign Investors in Real Estate (AFIRE)

My latest insights

Publication
decorative

REIT Tax News - March 2025

21 March 2025 .1 minute read

Publication

2025 carried interest tax reform and impact on sponsors and investors

10 February 2025 .2 minute read

News

DLA Piper receives two Turnaround Awards from the M&A Advisor

15 January 2025 .2 minute read

View All

Connect

Phone

+1 212 335 4525
(Work, New York)
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