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One of the Largest Global REITs and Its Subsidiary Form a New Joint Venture

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

REIT Acquires Life Science Complex in Boston Seaport District

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

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Past Events

Impact of 21st Century ROAD to Housing Act on Institutional Investor Ownership of Single-Family Rental Homes
When: July 13, 2026
People: Cameron N. Cosby, William C. Hanson, Karen J. Kepler, Louis A. Monti, Ameek Ashok Ponda, John M. Steiner, Sarah D. Wellings, Carson Durdel and Connie Lee
Selected REIT Tax Issues in Constructing a Data Center
When: May 26, 2026
People: Ameek Ashok Ponda, Cameron N. Cosby, Sarah D. Wellings and Paul W. Decker
Final REIT-Related Provisions in the “One Big Beautiful Bill Act”
When: July 7, 2025
People: Cameron N. Cosby, David J. McLaughlin, Ameek Ashok Ponda and Sarah D. Wellings
Senate Finance Changes to REIT-Related Provisions in the “One Big Beautiful Bill Act”
When: June 23, 2025
People: Cameron N. Cosby, David J. McLaughlin, Ameek Ashok Ponda and Sarah D. Wellings
Sullivan & Worcester Submits Comments to IRS Urging Caution in Applying Cloud Transaction Framework to REIT Rules
When: June 9, 2025
People: Ameek Ashok Ponda, Cameron N. Cosby, Sarah D. Wellings, Paul W. Decker, David J. McLaughlin, Connie Lee and Shannon E. Doherty
Remediation of M&A REIT Targets
When: June 2, 2025
People: Ameek Ashok Ponda, Sarah D. Wellings and Connie Lee
How REITs are Impacted by the “One Big Beautiful Bill Act”
When: May 27, 2025
People: Cameron N. Cosby, Ameek Ashok Ponda and Sarah D. Wellings
Remediation of M&A REIT Targets
When: October 15, 2024
People: Ameek Ashok Ponda, Sarah D. Wellings and Connie Lee
Real Estate Investment Trusts 2024 - USA
When: June 25, 2024
People: Howard E. Berkenblit, Louis A. Monti, Ameek Ashok Ponda and Sarah D. Wellings
Ameek Ashok Ponda Submits Comments to IRS to Address Favorably REITs Deploying Renewable Energy Infrastructure at their Properties
When: April 18, 2024
People: Ameek Ashok Ponda, Paul W. Decker, Sarah D. Wellings and Connie Lee
Enabling REITs to Deploy Renewable Energy: Toward a Workable Legal Standard
When: March 4, 2024 (Updated April 18, 2024)
People: Ameek Ashok Ponda, Connie Lee, Sarah D. Wellings and Paul W. Decker
Real Estate Investment Trusts 2023 - USA
When: September 8, 2022
People: Howard E. Berkenblit, Louis A. Monti and Ameek Ashok Ponda
Law Firm Submits Comments on Proposed Cloud Transaction Regs
When: October 24, 2019
People: Ameek Ashok Ponda
Non-Customary Services Furnished By Taxable REIT Subsidiaries
When: July 27, 2015
People: Ameek Ashok Ponda and Paul W. Decker
Toward a Workable Definition of REIT Healthcare Facility
When: December 5, 2011
People: Paul W. Decker and Ameek Ashok Ponda

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