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

Emailshiukay.hung@dlapiper.com

Call+1 212 335 4525

New York

About

Areas of FocusTax Real Estate Investment 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.

Real Assets 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 subordinate 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

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.
Ongoing representation of a US sponsor in the launch of their mortgage NAV REIT.
Represented several US sponsors in their launch of equity NAV REITs.

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

Harvard Law School, LL.M.
University of British Columbia, J.D., Wesbrook Scholar
University of British Columbia, B.Sc., Honors

Awards

Shiukay is recommended by Chambers USA and Legal 500 as a leading lawyer.

Chambers USA

Band 3, Nationwide REITs: Tax (2023-2024)

Legal 500

Leading Lawyer, REITs (2023-2024)
Recognized, Real Estate Investment Trusts (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."

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