News — page 5
GTIS Opportunity Zone Fund Invests In Seattle Logistics Facility
GTIS Partners announced the seventh investment of its Qualified Opportunity Zone Fund , forming a joint venture with Ryan Company to build a multi-story last-mile logistics facility in Seattle . The four-story building will be located at 65
Promised Land OZ Fund Secures $50M Financing For Agricultural Investments
Promised Land Opportunity Zone Farms announced this week a $50 million debt financing facility with Conterra Agricultural Capital. Promised Land was created to acquire farmland located in QOZs throughout the country. The fund currently owns
California Representative Proposes Extension Of Opportunity Zone Program
Michelle Steel, a Republican representing California's 48th congressional district, has introduced legislation that would extend the Opportunity Zone program beyond December 31, 2026. H.R. 4608, known as the Growth and Opportunity Act, also
Investors Choice OZ Fund Adds Milwaukee Apartment Complex
USG/OZI has announced the addition of a six-story Class A multifamily development in Milwaukee, Wisconsin to its portfolio. The Elevation 1659 project, which will have 76 units, is scheduled to be completed in July 2023. Average rent is exp
Darwin Mine Voted America's Top OZ Project at OZ Expo
A unique opportunity zone project focused on restarting the historic Darwin Mine in eastern California was awarded the top prize at the Denver OZ Expo earlier this month. The single asset OZ fund is looking to raise $66 million in equity fo
Canyon Partners Plans Student Housing Project in Reno Opportunity Zone
Canyon Partners Real Estate, through a joint venture with GMH Communities and CRG, has invested $36 million in a student housing development located in a Reno opportunity zone. The building will include 755 beds, and is expected to be ready
Grand Rapids OZ Lures Cybersecurity Company
Cleveland-based MCPc announced this week that it will make a $12.5 million investment in the Madison Square neighborhood of Grand Rapids. The building, located in one of Grand Rapids' eight opportunity zones , will be finished next year and
Kennedy Wilson Plans 268-Unit Multifamily Housing Development in Bozeman, Montana Opportunity Zone
The OZ Expo is July 15-16 in Denver, CO. The conference will feature a pitch session featuring eight developers showcasing their projects to a panel of judges for a chance to win the Top Project or Most Impactful Project
South Florida Opportunity Zone Project Scores $38 Million Loan
Bank OZK will provide a $38 million construction loan for the Wynwood Haus, a 224-unit building located in Miami, Florida . The 20-story building, which will feature ground floor commercial space, will be home to studio, one-bedroom, and tw
Urban Catalyst Acquires OZ Parcels for Senior Living Facility
Urban Catalyst has completed the acquisition of land to be used for the development of its Delmas Senior Living project in downtown San Jose, CA. The facility, which is expected to break ground in the third quarter of 2021, will be a six-st
Agora Realty Launches Fund Targeting QOZ Properties
Agora Realty, a real estate developer based in southern California, has formed a joint venture with a family office to invest in properties located in opportunity zones. The $50 million fund will focus on properties in Nevada , Hawaii , Ari
GRASS OZ Fund Acquires Nevada Airport
The GRASS QOF announced that it has acquired the Tiger Field airport in Lyon County , Nevada . Tiger Field was a public use airport owned by the U.S. Bureau of Land Management located south of the city of Fernley. GRASS plans to develop the
Woodforest CEI-Boulos Opportunity Fund Invests in Indianapolis Workforce Apartments
The Woodforest CEI-Boulos Opportunity Fund, a unique collaboration between Woodforest National Bank and CEI-Boulos Capital Management, announced a $3 million equity investment in The Wesmont on the east side of Indianapolis. The Wesmont is
Congressman Hagedorn Proposes Opportunity Zones Expansion
U.S. representative Jim Hagedorn of Minnesota's first district is proposing an expansion of opportunity zones. The proposal would increase the percentage of low-income opportunity zones in each state from 25% to 30%. Rep. Hagedorn's proposa
Multifamily Development Set to Break Ground in Tacoma, Washington Opportunity Zone
Last week, Griffin Capital Company LLC announced the closing of their 11th land acquisition within a Qualified Opportunity Zone. Located in Mesa, Arizona, the 336 garden-style apartment project will be developed in a partnership with the Op
Capital Square Hits Milestone for Richmond, Virginia OZ Development
Capital Square, one of the leaders in tax-advantaged real estate funds, has reached a milestone for its major OZ development in Richmond, Virginia . The company is in the process of developing "Scott's Collection" in the Scott's Addison are
Griffin Capital Completes 11th OZ Land Acquisition
Griffin Capital recently completed its 11th acquisition of land located in an opportunity zone, with plans to develop a 335-unit apartment community. The recently acquired land is located in the Main Street Corridor in Mesa, Arizona , just
Financing Secured for OZ Development Near Port of Savannah
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 f
Kingsbarn Capital and Development Acquires Multifamily Development Site in Carson City, Nevada Opportunity Zone
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
GRASS OZ Fund Now Available with $1,000 Minimum Investment
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
Aurora, Colorado’s First Opportunity Zone Residential Community Opened
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 th
RevOZ Capital Opens Behavioral Health Facility in San Bernardino OZ
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
Capital Square Breaks Ground on Richmond, Virginia Opportunity Zone Multifamily Development
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 2
Qualified Opportunity Funds Invested $24.9 Billion Through 2019
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 F