Highly curated Opportunity Zone multifamily fund to focus on emerging markets
A subsidiary of leading Opportunity Zone investment firm Pinnacle Partners, in partnership with Opportunity Zone advisory firm Javelin 19 Real Estate, has launched Pinnacle Partners Opportunity Zone Fund VIII, a highly curated multifamily Opportunity Zone (OZ) fund investing in a minimum of four select real estate projects in Opportunity Zones in emerging U.S. markets, such as Denver, Bozeman, Mont., Nashville, Salt Lake City, Phoenix, Austin and Dallas. The Fund is targeting $100 million in investments.
Latest Fintech Insights: ICICB and GAABU Invest in Futira Coin
“Our combined teams have focused on Opportunity Zone investing since the legislation passed”
Created with the Tax Cuts and Jobs Act of 2017, Opportunity Zone tax incentives spur economic growth and job creation in communities while providing investors with a series of tax incentives, including deferral of rollover of capital gains of any kind until 2026, a 10% discount on the capital gains tax due in 2026 if the investment is made by December 31, 2021, and elimination on post-investment gains if the investment in the fund is held for 10 years.
“We believe that Opportunity Zones stand as one of the most compelling tax legislations ever passed by the U.S. government and represent a once in a generation opportunity for investors seeking to manage their capital gains tax liability and potentially recognize the strong longer-term returns that can come from strategic multifamily property investments,” said Pinnacle Partners Managing Partner Jeff Feinstein. “Pinnacle Partners endeavors to identify institutional-quality real estate projects, sourced through exclusive relationships, that can offer our investors diversification and substantial tax advantages.”
Browse The Complete News About Fintech : Cryptocurrency Adoption Use Has Been Rising In Real Estate Transactions Industry
“Our combined teams have focused on Opportunity Zone investing since the legislation passed,” said Javelin 19 Real Estate Managing Partner Jill Homan. “Based on that experience, we’ve been able to work directly with leading real estate developers working on promising projects in Opportunity Zones around the country.”
“We designed our approach to project selection to help investors realize returns while also enjoying the tax advantages of Opportunity Zone investing. We are very excited about the potential of the diversified group of properties that will ultimately be in the Pinnacle Partners Opportunity Zone Fund VIII,” said Pinnacle Partners Managing Partner Leo Backer.
Read More About Fintech News : Foundry Launches FoundryX, a Marketplace to Match Buyers and Sellers of Bitcoin Mining Machines, Completing Over $125M in Sales in 2021
[To share your insights with us, please write to sghosh@martechseries.com]
