News — page 8
Business venture investing in opportunity zones
Most qualified opportunity zone funds are geared toward real estate. Because 90% of a fund's assets must be held within OZ geographies, real estate investing is simpler than business venture investing. That said, the actual purpose of the l
Puerto Rico governor sends OZ bill to Legislative Assembly
Due to the preferential treatment created for Puerto Rico in US Code Section 1400Z-1(b)(3), nearly the entire island is an opportunity zone. Governor Ricardo Roselló has estimated that the opportunity zones initiative "has the potential to
Opportunity zones legislation Q&A
Professional tax advisor Tony Nitti of WithumSmith+Brown’s National Tax Service Group has an excellent and thorough (and at times humorous!) Q&A-format article on Forbes this week. The article dives headfirst into many of the subtle nua
Treasury Department releases proposed opportunity zones regulations
Earlier today, the U.S. Treasury Department released REG-115420-18, Investing in Qualified Opportunity Funds —a 74-page regulatory document that clarifies many ambiguities surrounding the new opportunity zones program created by Trump's Tax
The 8 biggest unanswered questions about opportunity zone funds
East Coast law firm Day Pitney recently wrote an article highlighting many of the biggest unanswered questions about Section 1400Z on qualified opportunity zone funds ahead of the release of official regulations from the IRS. For commentary
Opportunity zones a "once-in-a-lifetime" opportunity for UHNW families
John Pantekidis, CIO and general counsel for multi-family office TwinFocus, recently contributed an article to Forbes explaining why Qualified Opportunity Zone investments could be considered a "once-in-a-lifetime" program for high net wort
Opportunity fund manager data from 141 Kresge and Rockefeller grant applications
Back in June, the Kresge Foundation and the Rockefeller Foundation jointly announced a request for letters of inquiry from fund managers who had plans to establish opportunity funds. Of the 141 responses received, last month the foundations
Mnuchin expects over $100 billion in opportunity zone investments
Secretary of Treasury Steven Mnuchin was interviewed by The Hill's editor-in-chief Bob Cusack during a live event last week. The interview was wide-ranging, but briefly covered the new opportunity zones tax incentive, where Mnuchin expresse
How Treasury can learn from the NMTC program
While the IRS works on opportunity zone guidance, Bob Ibanez, senior public policy manager at Novogradac & Company, has suggested in a recent article that the Treasury department use the lessons they have learned from the New Markets Ta
Treasury sends proposed opportunity zones regulations to OMB for review
The Treasury department has sent its proposed regulations regarding opportunity zones to the Office of Management and Budget for review . As part of the Tax Cuts & Jobs Act, the proposed opportunity zones rules are subject to an expedit
EIG co-founder Steve Glickman starts opportunity zones investment consulting firm
Steve Glickman, one of the lead architects of the opportunity zones legislation, has left EIG to start an opportunity zones investment consulting firm. According to their press release, Washington DC-based Develop Advisors "will advise fund
Developers and investors still waiting on IRS for opportunity zone regulations
Opportunity zones and opportunity funds were established by Congress as part of Tax Cuts & Jobs Act that was passed in December 2017. Governors of every state and U.S. territory (and the mayor of Washington DC) nominated their opportuni
OZ funds present opportunity for family offices
With the enormous tax breaks that opportunity funds offer for investors, it seems like they area a slam dunk investment opportunity. Not so fast, cautions DJ Van Keuren at Forbes . Just because it's an opportunity fund doesn't necessarily m
Redevelopment in Augusta, ME may be the first opportunity zone project
The redevelopment of Odd Fellows Hall at 333 Water Street in downtown Augusta, ME is believed to be the first opportunity zone project in the United States. According to Mainebiz's correspondence with Jason Richardson, director of research
Sound West Realty Capital launches in Seattle
Property developer and asset management firm Sound West Group has announced the launch of Sound West Realty Capital, an investment firm focused on qualified opportunity zone funds. Their first program— Sound West OZ Fund I —will be availabl
RXR Realty launches $500 million opportunity fund
RXR Realty is raising $500 million for an the RXR Realty Opportunity Zone Fund , which will invest in residential, retail, commercial, and mixed-use properties in and around New York City. Included in the plans are a $170 million developmen
Alabama opportunity zones case studies: Birmingham and Huntsville
Public sector publication Route Fifty recently spent time in Birmingham and Huntsville, in an attempt to figure out if the new opportunity zones program can revitalize these struggling communities. Local leaders in these two cities see both
Virtua Partners will be one of the first to offer an opportunity fund
Virtua Partners is one of the first to offer a qualified opportunity fund. The Phoenix-based private equity firm known for commercial real estate investing is raising $200 million for the Virtua Opportunity Zone Fund I , which will invest i
Steve Glickman explains opportunity zones on the Meb Faber podcast
I just listened to Meb Faber's podcast interview with Steve Glickman , CEO and co-founder of the Economic Innovation Group. At one point toward the end of the show, Steve refers to opportunity zone investing as having the potential to be "t
Beginnings
Let's begin! Welcome to our new website all about Treasury-certified Opportunity Zones and Qualified Opportunity Funds.