News — page 4
Omni OZ Fund Targets Clean Fuel Technology
The Omni OZ Fund is seeking to raise up to $300 million to fund the development of a processing plant that will produce a clean fuel to be sold to refineries and distributors. GreenMix fuel can reduce up to 45% of carbon output and eliminat
New OZ Fund Raising $25M For Real Estate, Startup Investments
The Auspicious Opportunities OZ Fund is raising OZ equity to invest in both commercial real estate and QOZB startup businesses. The fund is targeting three initial investments: Zen Building: A commercial real estate asset in Greenville, Sou
Cincinnati Brewery Expanding Production At Its OZ Facility
Bircus Brewing Company, a restaurant and craft brewery based in the Cincinnati area, is expanding production in its Ludlow, Kentucky facility. Bircus Brewing offers a unique entertainment experience, providing beer, music, circus acts, magi
Senate Finance Chair Queries Opportunity Zone Funds
Senator Ron Wyden (D-OR) has sent letters of inquiry to seven Qualified Opportunity Funds seeking information about projects in which the QOFs have invested and details on temporary and permanent jobs created. Recipients of letters from Sen
Griffin Capital Surpasses $1 Billion In Oz Equity
Griffin Capital announced that it has closed its second QOF after raising $585 million in equity. Griffin's first OZ fund closed in September 202 after raising $460 million. Griffin's second fund will be used to develop 12 multifamily commu
Riaz Capital Extends Ozone Fund III To $125 Million
Riaz Capital announced that it has reached the $100 million fundraising goal for its Ozone Fund III, which will invest in workforce housing projects in the Bay Area. In response to strong investor appetite, the firm is capping the raise at
Urban Catalyst Acquires Third Parcel For San Jose OZ Project
Urban Catalyst has acquired the third of four parcels for its Opportunity Zone project, closing on 77 N 4th Street in downtown San Jose . The parcel will be used in the development of Urban Catalyst's Icon and Echo projects; Icon will inclu
PTM Partners Closes $150 Million OZ Fund
Florida-based PTM Partners announced that it closed its second OZ fund on December 31, 2022 with $150 million of equity investment. PTM Partners previously raised approximately $100 million in its first OZ fund, which closed in 2019. Betwee
OZ Growth Fund Launches With Focus On Innovative Start-Up Companies
OZ Growth Fund LLC is the latest Qualified Opportunity Fund to launch with a focus on incubating early stage operating businesses. The fund is seeking to raise $20 million in capital with a minimum investment of $150,000. The fund's initial
OZ Trade Group Leader Announces Congressional Bid
Shay Hawkins, the leader of the Opportunity Funds Association , is runnin g for Congress. Hawkins announced that he will seek the Republican nomination in Ohio's reconfigured 13th district. Hawkins, who grew up near Cleveland, previously se
Seattle’s First OZ Project Canton Lofts Sells For $32 Million
Pinnacle Partners, a pioneer in sponsoring Opportunity Zones, has announced the sale of Canton Lofts to King County for $32 million . Canton Lofts is located in the Pioneer Square district of Seattle ; the project totals 35,000 square feet
ICOZ Fund Adds Assisted Living Facility To Portfolio
USG/OZI announced additional details on its Opportunity Zone project in Bristol, Connecticut . The KindCare at Bristol, a 117-unit assisted living and memory care clinic, will be overseen by Senior Living Development and scheduled for compl
Automotive OZ Company Gears Up For IPO
Vanderhall Motor Works, a portfolio company of Hall Venture Partners, has taken the next step towards an IPO with the filing of its Form S-1 with the Securities and Exchange Commission. Vanderhall develops three-wheel and four-wheel light m
Verte OZ Fund Invests In Concrete Manufacturing Plant
The Verte OZ Fund, one of the leading Opportunity Zone funds investing in operating businesses, has developed in a South Carolina company developing a new building material. Probitas Ventures is building a modern manufacturing facility that
Four Points Closes OZ Fund III With $100 Million
Four Points Funding has closed its third Opportunity Zone fund after raising $100 million. The company is in the process of deploying the capital to projects in Colorado. To date, Four Points has focused on middle-income housing as well as
GTIS Breaks Ground On Charlotte OZ Project
GTIS Partners announced the formation of a joint venture with real estate development company Wood Partners on a $72 million multifamily project in Charlotte, North Carolina . The Alta West Morehead development will be a five-story building
Capital Square Opens Raleigh, NC OZ Deal To Investors
Capital Square has announced the launch of its sixth Opportunity Zone fund, a single asset QOF that will develop a 297-unit multifamily project in downtown Raleigh, North Carolina . The development will be a 20-story building that includes
SoLa Impact Plans South Los Angeles OZ Development
The SoLa Impact Opportunity Fund is planning to build an 84-unit multifamily development in Westmont , an unincorporated community in the South Los Angeles area. The project will include 21 units with permanent supportive and deed-restricte
Arctaris To Invest $20 Million In Pittsburgh Area OZs
Arctaris Impact Investors, a Boston-based investment firm, has launched the Arctaris Southwestern Pennsylvania Opportunity Zone Program. The program will invest $20 million into Opportunity Zones in Allegheny and Westmoreland counties in Pe
Hudson Partners Breaks Ground On New York OZ Project
Hudson Partners Development has kicked off construction on an Opportunity Zone project in Schenectady, New York that will become a 4-building, 88-unit workforce housing property. The project is a joint venture between Hudson, Enterprise Com
Promised Land OZ Fund Closes Another Farmland Acquisition
Promised Land Opportunity Zone Farms announced the completion of a $29 million investment in a farm located in eastern North Carolina this week. The fund's portfolio now stands north of $50 million with 8,300 acres of farmland across four s
Maryland Announces $500,000 Investment In Opportunity Zone Businesses
The state of Maryland has awarded a total of approximately $500,000 to seven businesses located in Opportunity Zones through the Maryland Department of Housing and Community Development's Neighborhood BusinessWorks Program. “Our state has b
First Harvest OZ Fund Launches With Focus On Indoor Farming
The First Harvest OZ Fund is seeking to raise $100 million to invest in high tech hybrid farming businesses. Specifically, the fund will focus on building facilities used to grow organic produce using the Nutrient Film Technique (NFT). As t
National Equity Fund, SVB Team Up On $110 Million OZ Initiative
Silicon Valley Bank and National Equity Fund announced an initiative to invest $110 million in low-income housing tax credit deals by December 31. The initiative will leverage the tax advantages available from the Low-Income Housing Tax Cre