Opportunity zone

Jones Walker Welcomes Business Tax Attorney Chris Wootten

Retrieved on: 
Friday, January 26, 2024

NEW ORLEANS, Jan. 26, 2024 /PRNewswire/ -- Jones Walker LLP announced today that Chris Wootten has joined the firm as a partner in the Tax Practice Group in the New Orleans office.

Key Points: 
  • NEW ORLEANS, Jan. 26, 2024 /PRNewswire/ -- Jones Walker LLP announced today that Chris Wootten has joined the firm as a partner in the Tax Practice Group in the New Orleans office.
  • "His vast experience and thorough understanding of business transactions and tax credit finance will be beneficial to our corporate clients."
  • Chris is an experienced business and tax professional who helps lenders, developers, and investors identify, pursue, and obtain a broad range of federal, state, and local tax credits and incentives.
  • In addition to his tax credit practice, Chris provides counsel on a broad range of corporate transactions and matters, including business and asset acquisitions.

Infinity Real Estate and Bachow Ventures acquire Ft. Lauderdale Development Site

Retrieved on: 
Wednesday, November 29, 2023

Infinity Real Estate and Bachow Ventures are partnering to build a mixed-use multifamily project on N. Andrews Avenue in Ft. Lauderdale.

Key Points: 
  • Infinity Real Estate and Bachow Ventures are partnering to build a mixed-use multifamily project on N. Andrews Avenue in Ft. Lauderdale.
  • Infinity and Bachow Ventures have fully entitled a 316-unit development but have plans to increase the density of the property.
  • Infinity Real Estate, led by Managing Partner Steve Kassin and Partner David Berg, continues to focus on urban properties in South Florida.
  • “Infinity Real Estate is excited to partner with Bachow Ventures on this opportunity to add to our growing list of high-quality partners in high-quality urban assets,” added Kassin.

EPIC OZ FUND I LP Launches, Targeting $180M in Commitments

Retrieved on: 
Thursday, November 2, 2023

NEW YORK, Nov. 2, 2023 /PRNewswire/ -- EPIC OZ FUND I LP (the "Fund"), a groundbreaking, women-led Opportunity Zone ("OZ") fund, is officially launching today. Seeking to drive positive change in communities and deliver attractive risk-adjusted rates of return to accredited investors, EPIC—representing Energy, P3 Real Estate, Infrastructure, and Community—aims to foster holistic growth and sustainable development in "opportunity zones" across the United States. As of its launch, the Fund is the only existing OZ fund with a mandate to invest in multiple asset types with a creative strategy called "ecosystem investing," which endeavors to create more sustainable and recession-proof investments that benefit all stakeholders.

Key Points: 
  • NEW YORK, Nov. 2, 2023 /PRNewswire/ -- EPIC OZ FUND I LP (the "Fund"), a groundbreaking, women-led Opportunity Zone ("OZ") fund, is officially launching today.
  • Proudly 100% women-led, the Fund is steered by a diverse team, bringing a wide range of perspectives to the investment realm to address historically untapped markets.
  • Co-founder Rachel Vass says, "EPIC OZ Fund I is answering the question of what it would look like if you could invest in local economies and see growth in your portfolio as communities grow.
  • "The EPIC team is committed to driving real change and real impact in our communities," emphasizes co-founder Kelly Ann Winget.

OPPORTUNITY ZONE HOUSING MARKETS REBOUND IN SECOND QUARTER OF 2023 ALONG WITH REST OF NATION

Retrieved on: 
Thursday, August 17, 2023

IRVINE, Calif., Aug. 17, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 3,909 zones around the United States with sufficient data to analyze, meaning they had at least five home sales in the second quarter of 2023.

Key Points: 
  • Values in those areas also dipped from late 2022 into early 2023 before recovering in the second quarter.
  • By two key measures, Opportunity Zone markets even showed signs of rebounding slightly better than other neighborhoods around the country during the second quarter of this year.
  • (Among the 3,909 Opportunity Zones included in the report, 3,248 had enough data to generate usable median-price comparisons from the first quarter of 2023 to the second quarter of 2023; 3,704 had enough data to make comparisons between the second quarter of 2022 and the second quarter of 2023).
  • The Midwest continued in the second quarter of 2023 to have larger portions of the lowest-priced Opportunity Zone tracts.

EJF Capital Raises Approximately $167 Million for Second Opportunity Zone Fund

Retrieved on: 
Thursday, August 3, 2023

EJF Capital LLC (“EJF”), a global alternative asset management firm, today announced the successful closing of its second Opportunity Zone investment fund, EJF OpZone Fund II (the “Fund”) with approximately $167 million in investor subscriptions and commitments.

Key Points: 
  • EJF Capital LLC (“EJF”), a global alternative asset management firm, today announced the successful closing of its second Opportunity Zone investment fund, EJF OpZone Fund II (the “Fund”) with approximately $167 million in investor subscriptions and commitments.
  • The Fund received support from both new and existing EJF investors including high-net-worth individuals, Registered Investment Advisors (RIAs), broker dealers, and a leading private bank.
  • The Fund will build upon the investment strategy of EJF OpZone Fund I, which seeks to invest in ground-up multifamily housing and industrial development projects located in “Qualified Opportunity Zones” as defined under the federal Tax Cut and Jobs Act of 2017 (TCJA).
  • The strategy aims to capitalize on the tax benefits offered under the TCJA for investing in lower income census tracts designated as Opportunity Zones.

EJF Capital and North Signal Capital Refinance RiverPort Building 4 at the RiverPort Commerce Park Near the Port of Savannah, GA

Retrieved on: 
Thursday, July 27, 2023

EJF Capital LLC (“EJF Capital”) and joint venture partner North Signal Capital LLC (“North Signal”) today announced the successful close of a permanent financing agreement with MetLife Investment Management for RiverPort 4, a warehouse facility that is part of RiverPort Commerce Park (“the Project”), a 510-acre industrial park near Savannah, Georgia.

Key Points: 
  • EJF Capital LLC (“EJF Capital”) and joint venture partner North Signal Capital LLC (“North Signal”) today announced the successful close of a permanent financing agreement with MetLife Investment Management for RiverPort 4, a warehouse facility that is part of RiverPort Commerce Park (“the Project”), a 510-acre industrial park near Savannah, Georgia.
  • Completed in December 2022 and situated on 21 acres within RiverPort Commerce Park, RiverPort 4 is a Class A, 208,168-square-foot distribution warehouse facility that is 100 percent leased to two tenants.
  • The Project includes three more state-of-the-art distribution warehouses, RiverPort 5, 6, and 7, totaling another 1.3 million square feet currently under construction.
  • To date, EJF Capital and North Signal have completed and fully leased four distribution warehouses within RiverPort Commerce Park totaling 1.3 million square feet.

ARCTRUST Names Jason Kling Regional Vice President of Equity Capital Markets, East

Retrieved on: 
Wednesday, July 12, 2023

NEW YORK, July 12, 2023 /PRNewswire/ -- ARCTRUST Inc , a 38-year-old, fully integrated real estate company specializing in development, acquisition and joint-venture funding, through its diverse real estate programs, announced today that Jason Kling has joined the company as Regional Vice President of Equity Capital Markets, East.

Key Points: 
  • NEW YORK, July 12, 2023 /PRNewswire/ -- ARCTRUST Inc , a 38-year-old, fully integrated real estate company specializing in development, acquisition and joint-venture funding, through its diverse real estate programs, announced today that Jason Kling has joined the company as Regional Vice President of Equity Capital Markets, East.
  • In his new role, Mr. Kling will be responsible for raising new equity investment capital within the Broker-Dealer, RIA and family office marketplace for ARCTRUST's Private REITs, DSTs, Opportunity Zones and other programs.
  • "We are very fortunate to have the opportunity to add an established professional like Jason to the ARCTRUST team," said Chris Wadelin, CEO, ARCTRUST Private Capital.
  • In his prior role, Mr. Kling was the senior regional vice president for Versity Investments, a Delaware statutory trust (DST) sponsor specializing in student housing and multifamily investments.

CapZone Analytics Announces Release 1.0 of Compliance & Risk Management Software Platform for Qualified Opportunity Zone Funds

Retrieved on: 
Thursday, July 6, 2023

The core of CapZone Analytics' platform is the OZ Rules Engine, which codifies IRS regulations for investors, Funds, and portfolio companies.

Key Points: 
  • The core of CapZone Analytics' platform is the OZ Rules Engine, which codifies IRS regulations for investors, Funds, and portfolio companies.
  • CapZone Analytics has engineered the OZ Risk Register to prioritize and mitigate critical compliance issues.
  • This tool flags compliance and risk issues that are the most likely to occur, and that have potential for substantial financial impact on Qualified Opportunity Funds (QOFs).
  • DEEP ELLUM, Texas, July 6, 2023 /PRNewswire/ -- CapZone Analytics , the leading national provider of compliance and risk management technology solutions for the $180 billion Opportunity Zone (OZ) market, has announced Release 1.0 of its Compliance Platform.

Exceler Raises $5 Million From Opportunity Zone Fund to Accelerate Next-Generation, Sustainable, Exterior Wall Systems

Retrieved on: 
Tuesday, May 30, 2023

The funds will be used to drive the growth of the business while offering investors a very rare opportunity to defer, reduce and eliminate capital gains tax obligations through participation in the Exceler Opportunity Zone Growth Fund.

Key Points: 
  • The funds will be used to drive the growth of the business while offering investors a very rare opportunity to defer, reduce and eliminate capital gains tax obligations through participation in the Exceler Opportunity Zone Growth Fund.
  • As one of the few business-based opportunity zones available, investors can also participate directly in promoting clean, sustainable building and the success of the business.
  • The prefabricated exterior building panel industry is experiencing explosive growth, making it a highly promising sector for investment.
  • To learn more about investing in this rare, tax-free opportunity, contact Exceler at [email protected] .

Former White House Staffers to Release New Book in September

Retrieved on: 
Tuesday, May 23, 2023

WASHINGTON, May 23, 2023 /PRNewswire/ -- Former Small Business Administration Cabinet official Chris Pilkerton and former White House Director of Urban Policy Ja'Ron Smith today announced their upcoming book, Underserved: Harnessing the Principles of Lincoln's Vision for Reconstruction for Today's Forgotten Communities, will be released on September 5, 2023.

Key Points: 
  • The book will explore Lincoln's intentions for Reconstruction, how they came up short following Lincoln's death, and how those shortcomings continue to impact underserved communities to this day.
  • "This book is the culmination of years of work on behalf of underserved communities," said Pilkerton.
  • Their book gives an inside look into how the Trump White House achieved these wins and provides an actionable guide for policymakers looking to replicate those successes from a conservative perspective.
  • "I have my roots in an underserved community, so this book is especially near and dear to my heart," said Smith.