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Shiukay Hung

Shiukay Hung

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

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

Shiukay’s tax practice primarily focuses on REITs and real estate private equity, including real assets credit and mortgage REITs. His clients include Canadian pension funds, sovereign wealth funds (SWFs), non-US family offices, US-listed REITs, Singapore-listed REITs, and non-traded REITs, including NAV REITs. He represents clients on a variety of transactions, ranging from joint ventures and fund formation to REIT formation and operation, as well as M&A transactions, debt workouts, and restructurings under Chapter 11 of the US Bankruptcy Code.

Shiukay leverages his prior experience as an in-house tax counsel at a prominent real estate private equity sponsor to provide his clients with practical advice that is guided by industry best practices. He actively participates in bar associations and industry groups including the Real Estate Roundtable, the Institute for Portfolio Alternatives (IPA), the National Association of Real Estate Investment Trusts (Nareit), the Association of Foreign Investors in Real Estate (AFIRE), the New York State Bar Association, and the American Bar Association (ABA). 

As a sought-after speaker, Shiukay frequently speaks at conferences hosted by leading organizations such as Nareit, IPA, the ABA, the American Institute of CPAs, the Harvard Law School Association of New York City, Strafford, and the Tax Executives Institute. His insights have been featured in publications such as Bloomberg, Law360, Tax Notes, and the Private Equity Law Report. In addition to his speaking engagements, Shiukay is a regular contributor to 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). 

Bar admissionsBritish ColumbiaNew York


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

  • 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 a highly structured acquisition of an indirect interest in a trophy office building in New York City through 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.

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


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."



Media Mentions

Memberships And Affiliations

  • Board Member, Harvard Law School Association of New York City
  • Member, Real Estate Roundtable, Tax Policy Advisory Committee (TPAC)
  • Member, Institute for Portfolio Alternatives (IPA), Tax Policy Task Force
  • 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)