Shiukay Hung

• Represented 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 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
• 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 several Canadian pension funds in their US credit platform
• 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 (NASDAQ: LINE) US$4.4 billion IPO, the largest IPO of 2024
• Represented Resource REIT, Inc. in its US$3.7 billion cash merger with Blackstone Real Estate Income Trust, Inc.
• Ongoing representation of several REITs listed on the Singapore Exchange (SGX) that own a portfolio of US real estate through a US REIT
• Represented Pennsylvania Real Estate Investment Trust (NYSE: PEI) (now PREIT Realty) in its financial and corporate restructuring under Chapter 11 of the US Bankruptcy Code

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."
• "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 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."

• Co-author, "REIT Tax Resource Center," DLA Piper National REIT Tax Practice
• Co-author, "REIT Tax News," DLA Piper Alert, March 2025
• Co-author, "2025 carried interest tax reform and impact on sponsors and investors," DLA Piper Alert, February 10, 2025
• Co-author, "REIT Tax News," DLA Piper Alert, November 19, 2024
• Co-author, "IRS approves new REIT with no initial income or assets,” DLA Piper Alert, October 21, 2024 
• Co-author, "REIT Tax News," DLA Piper Alert, October 4, 2024 
• Co-author, "REIT Tax News," DLA Piper Alert, July 29, 2024
• Co-author, "What Loper Bright means for taxpayers: Treasury Regulations, pending disputes, transfer pricing, planning, and more," DLA Piper Alert, July 11, 2024
• Co-author, "Final regulations offer guidance for REITs on the transfer of energy credits," DLA Piper Alert, May 6, 2024
  
• Co-author, "Final domestically controlled REIT regulations offer limited relief," DLA Piper Alert, April 29, 2024
• Co-author, "REIT Tax News," DLA Piper Alert, April 2, 2024
• Co-author, "IRS rules certain income from local government bonds and reimbursements qualifies for REIT income tests," DLA Piper Alert, March 18, 2024
• Co-author, "The importance of transfer pricing analysis in leveraged blockers used by foreign investors," DLA Piper Alert, January 25, 2024
• Contributing author, The AFIRE Guide to U.S. Real Estate Investing: What Global Investors Need to Know about Commercial Real Estate Acquisition, Management, and Disposition, 4th ed., McGraw-Hill, 2023
• Co-author, "REIT Tax News," DLA Piper Alert, December 9, 2023
• Co-author, "Real Estate Gazette: Infrastructure," DLA Piper, November 27, 2023 
• Co-author, "REIT Tax News," DLA Piper Alert, October 20, 2023
• Co-author, "Understanding REIT tax: FAQs," DLA Piper Alert, August 28, 2023
• Co-author, "Ending tax breaks for massive sovereign wealth funds? Practical observations about the Wyden bill," DLA Piper Alert, August 9, 2023
• Co-author, "New Real Estate Investment Trust Tax Guidance on Parking, Amenity Space and Modern Tenant Services," Thomson Reuters, Summer 2023
• Co-author, "IRS provides favorable guidance on REIT tax treatment of transferable renewable energy credits for rooftop solar panels and electric vehicle charging stations," DLA Piper Alert, July 6, 2023
• Co‐author, "REIT Tax News," DLA Piper Alert, July 14, 2023
• Co-author, "IRS says regularly traded stock exception to FIRPTA applies at the partnership/fund level," DLA Piper Alert, June 1, 2023
• Co‐author, "REIT Tax News," DLA Piper Alert, April 5, 2023
• Co-author, "New REIT Tax Guidance on Parking, Amenity Space and Modern Tenant Services," DLA Piper Alert, February 23, 2023
• Co-author, "IRS Issues Proposed Regulations Impacting the Determination of Domestically Controlled REIT Status," LexisNexis Practical Guidance, December 29, 2022
• Co-author, "What Are NAV REITs? Answers to Some Frequently Asked Questions," The Real Estate Finance Journal, Fall 2022
• Co-author, "IRS Partially Revokes Previously Issued Private Letter Ruling on Percentage Rent," LexisNexis Practical Guidance, March 2022
• Co-author, "To Rely or Not to Rely? Sub-Regulatory Tax Guidance in Turbulent Times," Tax Executive, January/February 2021
• Co-author, "Final Regulations Clarify the Definition of 'Real Property' Under the REIT Rules," the Real Estate Finance Journal, January 2017

• Panelist, "Advanced Tax Strategies in Structuring Private Equity and Real Estate Investment Funds: Balancing Competing Interests," Strafford, April 2025

• Moderator, "Advanced Tax Strategies for Real Estate and Private Markets: Opportunities, Risks, and Innovations," Institute for Portfolio Alternatives, February 2025 

• Panelist, "Tax Policy Advisory Roundtable," Institute for Portfolio Alternatives, September 2024  
• Panelist, "Final Regulations for Domestically-Controlled REITs: Opportunities and Challenges," Strafford, September 2024
• Panelist, "Tax Treatment of Leveraged Blockers Used by Foreign Investors: Recent IRS Guidance, Deal Structures, Tax Planning," Strafford, June 7, 2024
• Panelist, "The Keys to International Capital – Global Horizons – Unlocking the Keys to Foreign Capital for Real Estate and Private Credit," IPA, May 2024
• Panelist, "Distressed REITs," ABA 2024 May Tax Meeting, May 2024
• Panelist, "Intro to REIT Taxation,” Nareit's REITwise: 2024 Law, Accounting & Finance Conference, March 2024
• Speaker, "DC REITs: To Look Through or Not to Look Through," SS&C, June 2023
• Panelist, "Advanced Tax Strategies in Structuring Private Equity and Real Estate Investment Funds: Balancing Competing Interests,” Strafford, March 2022
• Moderator, "Important Trends in COVID-Era M&A Transactions," Tax Executives Institute, March 2021
• Moderator, "2021 Tax Roundtable: Changes in Tax Laws Under the Biden Administration," Harvard Law School Association of New York City, February 2021
• Moderator, "Select 2020 Federal Income Tax Developments and Outlook for 2021," Tax Executives Institute, December 2020
• Moderator, "Every 10 Years I Have to Relearn Section 382," Tax Executives Institute, November 2020
• Moderator, "To Rely or Not to Rely – That is the Question – Subregulatory Guidance in Turbulent Times," Tax Executives Institute. October 2020
• Panelist, "IRS & Treasury Panel: Partnership Reporting (Inbound)," American Bar Association, August 2020
• Panelist, "IRS & Treasury Panel: Partnership Reporting (Outbound)," American Institute of CPAs, August 2020
• Moderator, "COVID-19 Related Tax Considerations for the Real Estate Industry," Harvard Law School Association of New York City, April 2020 
• Panelist, "What (Not So) Crazy Rich Asian Americans Need to Know About Qualified Opportunity Zones," National Asian Pacific American Bar Association, November 2019
• Panelist, "What the World of Accountancy Needs to Know About Blockchain and Cryptoassets," Wall Street Blockchain Alliance, November 2017

• "DLA Piper receives Restructuring Real Estate Deal of the Year award and Restructuring Financial Deal of the Year award from M&A Advisor," November 21, 2024

• "REITs Can Qualify in Year One Despite Lack of Assets, Income," Tax Notes, October 7, 2024
• "DLA Piper lawyers and practices ranked in The Legal 500 United States 2024 guide," June 12, 2024
  
• "DLA Piper lawyers and practices ranked in Chambers USA 2024," June 7, 2024
• "Pennsylvania Real Estate Investment Trust’s Financial and Corporate Restructuring," Global Legal Chronicle, May 2, 2024
• "DLA Piper advises PREIT in financial and corporate restructuring," April 2024
• "Discussing Real Estate Taxation: Expert Perspectives from DLA Piper," Nareit, April 2024
• "REITwise 2024 Recap," Nareit, March 2024
• "NYSBA Tax Section Report Addresses Proposed Regs on Transfer of Credits," Tax Notes, August 2023
• "DLA Piper lawyers and practices ranked in this year's Legal 500 US guide," June 2023
• "DLA Piper lawyers and practices ranked in Chambers USA 2023," June 2023
• "ABA Tax Section Critiques Proposed Regs on Foreign Government Exemptions," Tax Notes, February 2023
• "Notable Tax Provisions and Circumstances to Weigh to Optimize Treatment of Non-U.S. and Tax Sensitive Investors (Part Two of Two)," Private Equity Law Report, July 12, 2022
• "Notable Tax Provisions and Circumstances to Weigh to Optimize Treatment of Non-U.S. and Tax Sensitive Investors (Part One of Two)," Private Equity Law Report, June 28, 2022
• "More Than A Dozen Firms Guided Top Q1 Real Estate Deals," Law360, April 2022
• "Simpson, DLA Steer $3.7B Blackstone-Resource REIT Deal," Law360, January 2022
• "The Daily Docket: Industry Moves," Reuters, September 2021
• "Laterals, Moves, In-house," Bloomberg Law, September 2021
• "Shiukay Hung joins DLA Piper's Finance practice in New York," September 2021
• "Late Feedback On Partnership Forms May Lose Out, Official Says," Law360, August 2020
• "Cooperation May Be Key to International Partnership Form Changes," Tax Notes, August 2020
• "IRS Will Consider Late Comments on New Partnership Forms," Bloomberg, August 2020
• "Government Explains Changes to International Partnership Forms," Tax Notes, August 2020
• "New Partnership Tax Forms May Cause Duplication of Work," Bloomberg, August 2020
• "Wyoming Could Serve As Cryptocurrency Tax Bellwether," Law360, May 2018
• "More Than A Dozen Firms Guided Top Q1 Real Estate Deals," Law360, April 2022

• 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, Association of Foreign Investors in Real Estate (AFIRE)