Tax warrior who shoots straight from the lip.

John Napoli, Partner, Seyfarth Shaw

John Napoli, a tax lawyer and partner at law firm Seyfarth Shaw, is what many in the real estate industry--which, like any other, is eager to shed extraneous layers of taxation--might fondly refer to as a tax slaying warrior.

He has been a part of a myriad of deals arranging the formation and structure of REITs, limited liability corporations, corporate mergers, and acquisitions all the while tallying significant tax savings for his clients.

And while 1031 exchanges may be one of the most popular and beneficial tax sheltering transactions in real estate today, Napoli's vast knowledge and experience has instilled in him a connoisseurship for the most complicated deals he can get his hands on.

As REITs came to prominence in the early 90s, he got his fair share of complexity. Napoli organized the merger of the Mack Company and the Cali Realty Corporation to form New Jersey REIT powerhouse Mack-Cali in a slick tax-free transaction.

The merger allowed the REIT to raise capital and become the success it is today during a time fresh after the savings and loan crisis when banks were highly cautious of lending to real estate investors.

Soon after the Mack-Cali deal, Napoli orchestrated the formation of another REIT, this time to allow Australian money that was being invested in real estate in the US to take advantage of tax-sheltering international treaty benefits.

"These are the kinds of deals that I love to do," Napoli said. "I like funky stuff, like, say, during a 1031 tax exchange you're trading into a property that has a lot of build-to-suit issues. There are all sorts of tax subtleties that come up with something like that. It's the kind of transaction that isn't a cookie cutter deal, it takes a lot of creativity."

What has helped Napoli become such a mainstay in the field of real estate tax law is not only his impressive experience and knowledge, but also the generosity he displays in sharing it. Napoli is a frequent lecturer and author and recently spoke at the 7th Annual Tax Forum in New York.

"I enjoy it a lot, it's a great exchange of information and also a great way to meet the best in the business," Napoli said. "Not to mention a way for people to learn some rather specialized areas of tax law."

Napoli's down to earth straight-talking style at speaking venues has only helped him to win new business. While he is active in the formation of tenancy in common (TIC) arrangements, Napoli has been outspoken about some of the glaring shortcomings of the TIC partnership agreement--one that allows average investors to own portions of a commercial property.

"There are problems with TICs in that they don't have a mechanism for compelling partners in the agreement to put in money, there's no capital call provision," Napoli said. "Also, there are certain decisions on the property that can't be enacted unless there is a unanimous vote which, when you have something like 20 investors, becomes rather impractical."

"People know about these shortcomings, but I'm not out there to just say all good stuff just because I'm involved with them."

His integrity isn't scaring off TIC organizers eager to tap his impressive skills

"I just got a client in Minneapolis after a speaking engagement who appreciated that I was telling it how it was, identifying some of TICs' shortcomings. He told me 'you're the kind of guy I want to do business with.'"