John D. Rayis


John D. Rayis represents clients on a wide range of tax matters, including complex partnership transactions, real estate investment trusts (REITs), debt offerings and restructurings, mergers and acquisitions, entertainment joint ventures and financings, Section 1031 like-kind exchanges, project financings, sale/leaseback transactions and tax-exempt financings. He advises clients on foreign investments in the United States involving the Foreign Investment Real Property Tax Act (FIRPTA) and issues involving tax-exempt organizations.

Mr. Rayis is the tax adviser for various REITs, including the Anderson-Tully Company, one of the first timber REITs; Alexandria Real Estate Equities, Inc.; Apartment Investment and Manage­ment Company, Inc. (AIMCO); Menasha Forest Products Corporation; Newcastle Investment Corp.; Pinnacle Holdings Inc.; and Westfield America, Inc.

Mr. Rayis has represented both investment banks and corporations in various tax-free and taxable acquisitions, spin-offs and financings, including Health Net, Inc. Mr. Rayis advised Oakley, Inc., the well-known eyewear manufacturer, in its $230 million initial public offering.

Mr. Rayis represented the Commonwealth of Puerto Rico and the Puerto Rico Telephone Authority in obtaining an unprecedented private letter ruling that allowed the Telephone Authority to issue $744 million of revenue refunding bonds. He also has advised one of the first wind energy projects in the United States to qualify for a newly enacted tax credit, and has represented various clients with respect to buybacks of power sales agreements.

Mr. Rayis regularly provides tax advice relating to executive compensation and handles federal and state tax controversies. He is a frequent lecturer and panelist at conferences on tax matters.

Mr. Rayis repeatedly has been selected for inclusion in Chambers Global: The World’s Leading Lawyers for Business in the Capital Markets: REITs category, in Chambers USA: America’s Leading Lawyers for Business as one of America’s leading REIT tax lawyers and in The Best Lawyers in America.

Bar Admissions



LL.M., University of Michigan, 1980

J.D., Wayne State University, 1979 (cum laude)

B.S. and B.A., Michigan State University, 1977 (with Honors)


Member, Advisory Board, Journal of Taxation of Corporate Transactions

Clinical Assistant Professor, University of Southern California, School of Business Administration (1992)


Chairman, Corporate Tax Section, Los Angeles County Bar Association (1992-1993)