OZ Pitch Day - June 19
OZ Pitch Day - June 19
EJF Capital and North Signal Capital announced more than $30 million in financing for the construction of two buildings at the RiverPort Commerce Park in Hardeeville, South Carolina. The buildings, which comprise more than 800,000 square feet in total, are…
Earlier this week, Kingsbarn Capital and Development announced the acquisition of 6.12 acres within a Carson City, Nevada Opportunity Zone. The multifamily development of 140 garden-style apartments is anticipated to start leasing one year after construction start in July. GRASS Opportunity Zone Fund announced…
A unique new fund is making some waves. GRASS (The Growth Resources, Assets, Safety & Sustainability Opportunity Zone Fund) is making history as the first ever RegA+ OZ fund. The RegA+ status enables the fund to accept investments of as…
Last week, the City of Coachella, California launched Opportunity Coachella, a competition for businesses looking to relocate, launch, or expand into an Opportunity Zone. The competition is now accepting applications and will award more than $15,000 to winners. The contest…
RevOZ Capital opened an 11,000-square-foot behavioral health facility in a San Bernardino, California Opportunity Zone. On hand at the ribbon cutting ceremony was Senator Tim Scott (R-SC). The facility will provide effective health care to justice-involved youth, in or out of…
Last week, President Biden released his $6 trillion budget proposal, which included a capital gain tax increase from 23.8% to 43.4% for households with a combined income of $1 million or more. The proposed increase would take effect April 28, 2022. This…
Note: This article was updated on August 18, 2021 to make some clarifications and correct some factual errors. A research study completed last month estimates that $24.9 billion of total investments have been made by Qualified Opportunity Funds through the…
Last week, Wilmington, Delaware-based Second Chances Farm announced their second Opportunity Zone location. Their expansion into the Philadelphia market enables the indoor vertical farm startup to continue its social mission of enabling returning citizens to become entrepreneurs. On the deal front, GTIS Partners…
The IRS recently confirmed the boundaries of the Opportunity Zones were established at the time they were designated and not subject to change due to the 2020 Census. The OZ marketplace had eagerly awaited guidance on this critical issue. The IRS Announcement 2021-10 stated, “Accordingly, boundaries of a Designated QOZ do not shrink or…
Last week, Los Angeles-based development firm Banyan Residential, in partnership with Indianapolis-based firm, Milhaus, broke ground on Banyan Beckley, a $59 million multifamily development within a Dallas, Texas Opportunity Zone. Located just outside of downtown, this 279 unit project is…