Our marquee REIT and Tax teams advised American Tower Corporation (NYSE: AMT), one of the largest global REITs, and its subsidiary CoreSite in the formation of a new joint venture with Stonepeak, a leading alternative investment firm specializing in infrastructure and real property assets, to develop, build and operate an 18-megawatt data center in Denver, Colorado. CoreSite provides IT infrastructure that empowers enterprises and cloud, network and IT service providers to monetize and future-proof their digital businesses. The total estimated development costs for the 18-megawatt data center are expected to be more than $250 million.
Sullivan’s team was led by Ameek Ashok Ponda, director of the Tax Department, with Sullivan Tax partners Joel Carpenter and Sarah Wellings, and associate Connie Lee, contributing to the successful deal.
Ameek Ashok Ponda, Joel R. Carpenter, Sarah D. Wellings and Connie Lee
Sullivan represented Diversified Healthcare Trust (Nasdaq: DHC) in connection with the sale of a 10% equity interest in a two building life science complex located at 11 Fan Pier and 50 Northern Avenue in Boston, MA. DHC sold the interest to an existing joint venture partner for a purchase price of approximately $108 million. The purchase price for the 10% equity interest is based on a property valuation of $1.7 billion, less the $620 million of existing secured debt on the property. Sullivan provided counsel with respect to the initial JV formation and has continued to provide representation to the JV since 2017.
Avinash R. Rao and John M. Steiner
Geoffrey Wynne was quoted in the article "When the Price Is High and There’s Limited Supply," published in Financial World [sub. req'd], the monthly digital magazine of Walbrook Institute London, in October 2026. The article discusses growing concerns over access to critical raw materials and other essential goods, and how those concerns are reshaping global supply chains. It also explores how trade finance can be used to support supply chain resilience and help
On October 1, 2026, the U.S. Securities and Exchange Commission (the "SEC") proposed a comprehensive new custody framework for crypto assets. Subject to significant conditions, the proposal would permit SEC-registered investment advisers to self-custody certain client crypto assets when no qualified custodian is reasonably available for the particular asset. It also would permit registered investment companies and business development companies ("BDCs," and together with registered investment companies, "regulated funds") to
On September 29, 2026, the staff of the U.S. Securities and Exchange Commission (the “SEC”) Division of Investment Management (the “Staff”) issued a no-action letter to the Mutual Fund Directors Forum stating that it would not recommend enforcement action under Rules 14a-3(a), 14a-4(d)(2), 14a-4(d)(3), 14a-4(f), 14a-6(o), 14a-10, and 14a-12(a) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), if an investment company registered under the Investment Company
Richard Jones will participate in a panel discussion titled "Noteworthy Developments in State and Local Taxation" on October 16, 2026, at the National Association of State Bar Tax Sections' (NASBTS) 47th Annual Meeting in Philadelphia, Pennsylvania. Rich will be joined on the panel by Richard D. Pomp, Alva P. Loiselle Professor of Law at the University of Connecticut School of Law, and James G. Busby, Jr., of The Cavanagh Law Firm
On Friday, September 18, 2026, the Massachusetts Supreme Judicial Court (the “SJC”) affirmed the dismissal of the Town of Marshfield’s challenge to the MBTA Communities Act (the “Act” or “Section 3A”).[1] The decision confirms that covered municipalities must adopt and maintain zoning that permits multifamily housing as of right in at least one district. It also rejects Marshfield’s four principal theories for avoiding that obligation, which are explored in more
Sullivan & Worcester (Sullivan) has welcomed Veronika Koroleva as counsel in its market-leading Trade & Export Finance practice in London. Joining from Hill Dickinson, where she was Head of Trade Finance, Veronika brings extensive experience in trade and commodity finance, including structured trade, receivables and supply chain finance. Veronika’s arrival builds on the expansion of the practice following the additions of Robert Parson and Matthew Cox as partners in 2025 and
Geoffrey Wynne will join a panel discussion: “Trade Finance: Lessons from First Brands and Other Situations” at the ELFA Annual Conference 2026 on October 13 in London. The panel will examine how investors can learn from recent high-profile situations and adapt their credit analysis to address emerging risks in trade finance. Topics will include the essential role of trade finance and its separate institutional frameworks, cohabitation on issuer balance sheets, structural
On September 16, 2026, the Securities and Exchange Commission (SEC) issued two proposals that, if adopted, would represent significant changes to the federal proxy rules for U.S. public companies. The first proposal would eliminate Rule 14a-8 under the Securities Exchange Act of 1934 (Exchange Act). Rule 14a-8 currently requires companies to include qualifying shareholder proposals in their proxy materials and has been part of the federal proxy rules for more than
From October 5-9, the American Bar Association will host its 2026 Fall Tax Meeting. On October 9th, Richard Jones will participate in a panel program titled “Come As You Are: Residency Audits, Wealth Taxes, and State Revenue Strategies.” The special State and Local Tax sessions will be held at Perkins Coie LLP in Seattle, Washington, with a virtual attendance option also available. As taxpayers become increasingly mobile and states face mounting revenue
Geoffrey Wynne was quoted in the article "When the Price Is High and There’s Limited Supply," published in Financial World [sub. req'd], the monthly digital magazine of Walbrook Institute London, in October 2026. The article discusses growing concerns over access to critical raw materials and other essential goods, and how those concerns are reshaping global supply chains. It also explores how trade finance can be used to support supply chain resilience and help
On October 1, 2026, the U.S. Securities and Exchange Commission (the "SEC") proposed a comprehensive new custody framework for crypto assets. Subject to significant conditions, the proposal would permit SEC-registered investment advisers to self-custody certain client crypto assets when no qualified custodian is reasonably available for the particular asset. It also would permit registered investment companies and business development companies ("BDCs," and together with registered investment companies, "regulated funds") to
On September 29, 2026, the staff of the U.S. Securities and Exchange Commission (the “SEC”) Division of Investment Management (the “Staff”) issued a no-action letter to the Mutual Fund Directors Forum stating that it would not recommend enforcement action under Rules 14a-3(a), 14a-4(d)(2), 14a-4(d)(3), 14a-4(f), 14a-6(o), 14a-10, and 14a-12(a) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), if an investment company registered under the Investment Company
Richard Jones will participate in a panel discussion titled "Noteworthy Developments in State and Local Taxation" on October 16, 2026, at the National Association of State Bar Tax Sections' (NASBTS) 47th Annual Meeting in Philadelphia, Pennsylvania. Rich will be joined on the panel by Richard D. Pomp, Alva P. Loiselle Professor of Law at the University of Connecticut School of Law, and James G. Busby, Jr., of The Cavanagh Law Firm
On Friday, September 18, 2026, the Massachusetts Supreme Judicial Court (the “SJC”) affirmed the dismissal of the Town of Marshfield’s challenge to the MBTA Communities Act (the “Act” or “Section 3A”).[1] The decision confirms that covered municipalities must adopt and maintain zoning that permits multifamily housing as of right in at least one district. It also rejects Marshfield’s four principal theories for avoiding that obligation, which are explored in more
Sullivan & Worcester (Sullivan) has welcomed Veronika Koroleva as counsel in its market-leading Trade & Export Finance practice in London. Joining from Hill Dickinson, where she was Head of Trade Finance, Veronika brings extensive experience in trade and commodity finance, including structured trade, receivables and supply chain finance. Veronika’s arrival builds on the expansion of the practice following the additions of Robert Parson and Matthew Cox as partners in 2025 and
