David A. Sausen has a broad-based practice covering tax issues relating to mergers and acquisitions, partnerships and limited liability companies, investment funds, real estate, leveraged leasing, sovereign wealth funds, pension funds, the Foreign Account Tax Compliance Act (FATCA) and cross-border transactions. He has substantial experience in working with clients on domestic and international mergers and acquisitions, corporate and partnership restructurings, real estate joint ventures, investment fund formations and restructurings, and IRS and New York tax controversy matters.
In addition, Mr. Sausen has considerable experience in forming and advising tax-exempt organizations on various issues including private inurement, self-dealing, unrelated business taxable income, and excess benefit transactions. Mr. Sausen also serves on the Pro Bono Committee at the firm.
Experience
- Ivanhoé Cambridge, the real estate subsidiary of leading Canadian investment fund manager Caisse de dépôt et placement du Québec, in its co-investment agreement with private equity firm TPG Capital with respect to their joint acquisition of warehouse operator PointPark Properties (P3) PLC valued at approximately at US$1 billion from international investment company Arcapita.
- Five Oaks Investment Corp., a Maryland corporation that operates as a mortgage real estate investment trust, in its initial public offering, as well as a concurrent private placement to an indirect wholly owned subsidiary of XL Group plc, which together raised US$85.5 million.
- AGF Management Limited, one of Canada's premier independent investment management firms, in its strategic acquisition of an ownership stake in FFCM, a Boston-based ETF advisor and asset management firm.
- Essroc Cement Corp. in a significant multi-state like-kind exchange transaction with Lafarge North America, which involved the exchange of Essroc's real estate and operations assets located at their Essexville, Michigan cement terminal for Lafarge's real estate and operations assets located at their Baltimore, Maryland and Norfolk, Virginia cement terminals.
- Gulf Coast Asphalt Company in the sale of its Mobile, Alabama marine terminalling facility, a 1.2 million barrel facility that handles asphalt, crude oil, heavy fuel oil and methanol, and Saraland, Alabama rail transloading facility, which transfers heavy crude oil and specialty products from railcars to terminals, to Arc Terminals LP.
- NexBank, SSB, as agent to the senior secured lenders to radio station operator AR Broadcasting, LLC, with respect to AR Broadcasting's debt-for-equity restructuring.
- Caisse de dépot et placement du Québec in the acquisition of a 16.55% stake in the Colonial Pipeline Company and Colonial Ventures LLC from ConocoPhillips for US$850 million.
- Cantor Fitzgerald, as administrative agent, and a steering committee of lenders (Stone Tower, PNC, ING Asset Management, Bank of America, Babson Asset Management and Hartford Insurance) in the Chapter 11 proceeding involving Caribe Media, Inc., the leading publisher of yellow pages directories in the Caribbean.
- Lake Shore Gold Corp., a Canadian gold mining company, in registering its securities with the SEC and its listing on the NYSE Amex.
- Saracen Energy Partners in the sale to U.S. Ventures, Inc. Saracen Energy Partners is a Houston-based refined products marketing and trading company.
- Allco Finance Group in the sale of its US wind assets, for US$325 million, to a consortium consisting of ArcLight Capital Partners and Terra-Gen Power. Allco's interests comprised an approximately 3.1-gigawatt wind project in Tehachapi, California.
- Wacker Chemie AG, a Munich-based, globally active chemical company, in the US$265 million acquisition of full ownership of its joint ventures with Air Products & Chemicals, Inc.
- Trinity Industries, Inc., and its wholly owned subsidiaries, Trinity Rail Leasing V L.P. (TRL-V) and Trinity Industries Leasing Company (TILC), in the closing of TRL-V's issuance of US$355 million in Secured Railcar Equipment Notes, Series 2006-1.
Perspectives
Recognition
The Legal 500 US
US Taxes: Non-Contentious (2019)
New York State Bar Association
President’s Pro Bono Service Award (2014)
Credentials
Education
- LL.M., Taxation, New York University School of Law, 2006
- J.D., Cornell Law School, 2001
- B.S., Civil and Environmental Engineering, Cornell University, 1998, cum laude
Admissions
- New York
- U.S. Tax Court