Shiukay Hung

Shiukay Hung

Partner
Co-Chair, National REIT Tax Practice
What distinguishes the practice is its top-rate REIT tax offering, spearheaded by Shiukay Hung from New York. Hung, who is praised as possessing 'a deep understanding of the technical REIT tax rules,' regularly advises investors and is sought out to act as special REIT tax counsel on major transactions.
The Legal 500 United States
New York
About

Shiukay Hung is a Partner and Co-Chair of AKD Partners's National REIT Tax Practice. He leads both the real estate investment trust (REIT) tax practice and the Canadian pension funds tax practice. Shiukay is widely recognized as a leading tax lawyer by both Chambers USA and The Legal 500 United States and is frequently engaged as special tax counsel on high-profile transactions.

Shiukay advises Canadian pension funds, other non-US investors, and asset managers on complex cross-border tax matters. His experience encompasses joint ventures, fund formation, REIT formation and operations, mergers and acquisitions, private credit transactions, debt workouts, and restructurings. Known for his practical, industry-focused advice, Shiukay helps clients navigate sophisticated tax issues with an emphasis on best practices.

As a recognized authority on tax matters, Shiukay's 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 to the treatise "The AFIRE Guide to U.S. Real Estate Investing," published by McGraw-Hill (4th ed., 2023).

Areas of FocusTaxReal EstateInvestment Management and Funds
Bar admissionsBritish ColumbiaNew York

EXPERIENCE

  • 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 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 mortgage REITs and 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 initial public offering (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

Awards and Recognitions

Chambers USA

  • Band 2, Nationwide REITs: Tax, (2025)
Client Testimonials
  • "Shiukay is an extremely thoughtful and thorough tax attorney. He has a sophisticated practice."
  • "Shiukay is an incredible lawyer. He is thorough, meticulous and responsive."
  • "Shiukay is a very knowledgeable counsel and makes well thought-out suggestions."

The Legal 500 United States

  • Leading Partner, REITs, (2025)
  • Next Generation Partner, Tax: Financial Products, (2025)
  • Recommended, US Taxes: Non-Contentious, (2025)
Client Testimonials
  • "Shiukay Hung, who leads the practice, is one of the most well-respected practitioners in this space. He has a deep understanding of the technical REIT tax rules and delivers thoughtful and practical advice to his clients. I rely heavily on his expertise and judgement with respect to REIT-related issues."
  • "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."
Additional Recognitions
  • Recognized, The Policy Leadership Award, The Institute for Portfolio Alternatives, September 2025
Education
  • LL.M., Harvard Law School
  • J.D., University of British Columbia
    Wesbrook Scholar
  • B.Sc., University of British Columbia
    with honors

Publications

Seminars

  • Panelist, "AFIRE Rising Leaders Summit," Association of Foreign Investors in Real Estate (AFIRE), November 2025
  • Speaker, "Advancing Pension Tax Strategy in Canada," The Pension Investment Association of Canada, October 2025
  • Speaker, "Big Beautiful Bill: Tax Implications for Cross-Border Investment," Association of Foreign Investors in Real Estate (AFIRE), Annual Member Meeting, September 2025
  • Panelist, "The Big Beautiful Bill Briefing: From Policy to Practice," Institute for Portfolio Alternatives (IPA), Expert Series, August 2025
  • 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," IPA, February 2025
  • Panelist, "Tax Policy Advisory Roundtable," IPA, 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," 2024 May Tax Meeting, American Bar Association Section of Taxation, May 2024
  • Panelist, "Intro to REIT Taxation," 2024 Law, Accounting & Finance Conference, Nareit REITwise, 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 Institute of Certified Public Accountants, August 2020
  • Panelist, "IRS & Treasury Panel: Partnership Reporting (Outbound)," American Institute of Certified Public Accountants, 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

Media Mentions

Memberships And Affiliations

  • 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)

My latest insights

Publication
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Final and proposed Treasury regulations published under Section 892 of the Code: Key...

16 December 2025
Publication
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REIT Tax News - December 2025

2 December 2025 .1 minute read

Publication
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Proposed regulations repeal domestic C-corporation look-through rule for determination of...

24 October 2025
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Connect

Phone

+1 212 335 4525
(Work, New York)