Cristina Arumi is a principal in Ernst & Young LLP’s National Tax Department and resides in Washington, DC. Cristina is a member of the National Real Estate and Partnerships group, with a particular focus on inbound investment structures and tax advice related to real estate and infrastructure transactions.
Cristina regularly advises public companies, funds, institutional investors, and non-US investors on a variety of matters. Her inbound experience includes representing high net worth individuals, foreign pensions, and sovereign investors with respect to the US tax implications of investments and operations in the United States, including the Section 892 exemption for foreign governments, considerations related to operating activities and “permanent establishment” issues, and FIRPTA – the Foreign Investment in Real Property Tax Act. She also advises both US and non-US clients regarding US tax implications multi-jurisdictional acquisitions and joint ventures.
Cristina is a leading advisor on real estate investment trusts (REITs), including hotel, health care, and mortgage REITs. With her transactional focus, Cristina has worked on multiple mergers and acquisitions, REIT formations and conversions, UPREIT roll-ups, partnership mergers, and downREIT transactions. Cristina also advises on ongoing operating matters, including compliance with tax protection agreements, and has extensive experience representing clients in requests for private letter rulings from the IRS, as well as experience representing REITs and taxable REIT subsidiaries undergoing IRS audits.
Before joining EY, Cristina was a partner and the global leader of Tax at Hogan Lovells. During her 17 years at Hogan, Cristina advised on the tax aspects of many of the most complex and high profile real estate related transactions in the industry. In addition, Cristina worked with other operating companies in numerous industries in connection with a variety of transactions, including taxable and non-taxable acquisition transactions, joint ventures, recapitalizations and debt restructurings.
Cristina has made numerous speaking appearances at conferences hosted by the National Association of Real Estate Investment Trusts, the Practicing Law Institute and the American Bar Association. Cristina graduated from the University of North Carolina at Chapel Hill, received her J.D. from Duke University School of Law, and received her LL.M. from Georgetown University Law Center. Cristina is the CLE Subcommittee Chair of the ABA Tax Section Real Estate Committee and is a member of the Government Relations Committee, National Association of Real Estate Investment Trusts.