Darryl Steinhause

Darryl Steinhause

Partner
About

Darryl Steinhause has more than 30 years of experience in highly technical securities and tax transactions. 

Darryl has structured securities offerings for a wide variety of significant clients across the country, acting as lead counsel on several billion dollars of fund, debt, tenant in common (TIC), Delaware statutory trust (DST), real estate investment trust (REIT) and other offerings. He has represented both sponsors and institutional investors in a variety of deal structures, including publicly registered transactions, private placements and institutional funds. His experience also includes structuring lending transactions and loan workouts for borrowers particularly involving TICs, REITs and DSTs.

Darryl has also been at the forefront of the industry in creating REIT roll-up structures for TIC transactions in both stand-alone transactions and in connection with REITs and other investment vehicles. 

Darryl conceived the legal structure for the modern TIC syndication transaction. In addition, he was instrumental in obtaining a federal revenue ruling approving the DST structure for deferred exchanges. The TIC model structured by Darryl expanded into a national multibillion-dollar industry. Recognized as one of the foremost professionals in the industry, Darryl is a leader in developing new structures in the DST and TIC industries.

Noted for his ability to create solutions and structure complex deals, Darryl has acted as tax and securities counsel to over US$5 billion of TIC acquisitions.

Bar admissionsCaliforniaNew York

EXPERIENCE

Darryl acted as special tax counsel with respect to the bankruptcy work-out of the Sunwest Management portfolio and helped achieve a positive result for the investors in the Sunwest controlled properties. He also acted as tax and securities counsel in the acquisition of a US$148 million shopping mall, the largest single asset acquisition by a tenant in common sponsor at the time.

Education
  • LL.M., New York University 1982
  • M.B.A., Finance, Investment and Banking, University of Wisconsin 1981
  • J.D., University of Wisconsin Law School 1980

Awards

The Legal 500 United States

  • Recommended, REITs (2019-2024)

Chambers USA

  • Nationwide REITs (2024)
Additional Awards
  • Selected by The Daily Journal to the prestigious Top 100 Lawyers in California. Selected from over 200,000 lawyers in the state as one of the top 100 lawyers who are doing creative, cutting-edge work  (2011-2016) 
  • Selected by American Lawyer Media as a Top-Rated Lawyer in Real Estate (2013)
  • Selected to Super Lawyers (2013)
  • Received the Turnaround of the Year—Large Turnaround Award from the Turnaround Management Association for his participation in the Sunwest Management bankruptcy restructuring (2011)
  • Honored by The Daily Journal as a Real Estate Deal Maker where only 20 lawyers are selected, and inclusion is based on significant impact and demonstrated creativity, adaptability and tenacity (2011)
  • Recognized by Best Lawyers in America® (2007-present)
  • Real Estate Investment Securities Association, A Champion of Excellence (ACE) Award recipient (2007)
  • Selected for inclusion in the Southern California Super Lawyers—San Diego Edition highlighting the top five percent of lawyers in San Diego
  • Voted one of the "Top San Diego County Attorneys" by The Daily Transcript
  • Selected for inclusion in Lawdragon's New Star, New Worlds guide, recognizing lawyers who are "carrying the profession to new frontiers"
  • Martindale-Hubbell® AV® Rated

Bylines

  • Author, "Delaware Statutory Trusts and CMBs 2.0: What Lenders Don't Know Can Hurt You," Exchange Quarterly (March 2014)
  • Co-author, "The Uncharted Waters of General Solicitation," The Real Estate Finance Journal (Fall 2013 and Winter 2013/2014)
  • Contributing author, Chapter on Bad Debts, Bender's Federal Tax Service

Seminars

As a result of his significant experience, Darryl is often asked to speak on the structuring of funds, tenant in common transactions and DST transactions.

  • Presenter and moderator at the REISA (formerly TICA) spring symposiums and fall conferences in every year since 2004
  • Panelist at over 150 events regarding securities, tax, REITs, TICs, DSTs, funds and other investment vehicles including the American Bar Association the California State Bar, the Texas State Bar, RealShare, IMN, the California Society of CPAs, the San Diego Bar Association and other organizations

Media Mentions

Civic and Charitable

Darryl also is active in the community. He has been appointed to serve on the San Diego Task Force on Affordable Housing and he serves on the board of National Junior Basketball.

Teaching Experience

Formerly Darryl was an adjunct professor at the University of San Diego School of Law.

Memberships And Affiliations

  • National Association of Real Estate Investment Trusts
  • ABA Section of Taxation, Real Estate Committee, Syndications Subcommittee, Former Chair
  • Real Estate Securities and Investment Association, Former Board Member; Current General Counsel

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