Kendal A. Sibley

Kendal focuses on federal income tax issues related to REITs and private investment funds. She regularly assists clients with structuring and executing capital markets transactions, initial public offerings, fund formations, mergers and acquisitions, and securitizations. She represents issuers and underwriters in various capital markets transactions, and she represents equity REITs and mortgage REITs in connection with public and private equity and debt offerings, including REITs investing in mortgage-backed securities, mortgage loans, hotels, excess mortgage servicing rights, commercial office buildings, industrial and single family rental (SFR). Kendal represents private equity funds and investors in fund formation using REITs, blockers and other structures to address FIRPTA issues. Kendal also advises clients on roll-up transactions, OP unit deals, and tax protection agreements.

• Represented private equity fund in $2.5 billion take private transaction of single family rental REIT.
• Represented acquirer in $18 billion healthcare REIT merger.
• Represented real estate and real estate credit private investment funds in all aspects of public and private tax structuring for private funds, REITs and similar investment vehicles, including management of company equity compensation.
• Represented buyers and targets in public and private merger transactions.
• Represented issuers and underwriters in initial public offerings of equity and mortgage REITs.
• Represented industrial REIT concerning REIT issues in $7.6 billion take private transaction.
• Represented issuer in REIT conversion from a C corporation and issuer in REIT conversion from a publicly traded partnership.
• Represented buyers and sellers of private REITs.
• Advised clients on tax-efficient structures for foreign and tax-exempt investors to own US real property through private REITs.
• Advised partnerships and contributors regarding partnership OP unit transactions and tax protection agreements.
• Represented issuers and lenders concerning tax issues in financing of servicer advance receivables.
• Represented issuers and underwriters in mortgage loan credit risk transfer securities issuances.
• Counsel clients generally on the federal income tax aspects of restructurings and debt workouts.
• Advised clients regarding Section 382 issues.

• Recommended for US Taxes: Non-Contentious (2021-2024) and Real Estate Investment Trusts (REITs) (2019, 2022-2025), Legal 500 United States
• Recognized as a Leader in REITs: Tax, USA-Nationwide, Chambers USA, 2020-2025
• Named among the Legal Elite for Taxes/Estates/Trusts, Virginia Business Magazine, 2022-2023
• Named a “Client Service All-Star” by BTI, 2019

• Member, American Bar Association, Section of Taxation