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Revitate has launched fundraising for its Impact OZ Fund 2022, marking the fourth Qualified Opportunity Fund (QOF) led by co-founders Alex Bhathal and Lisa Merage.
The new fund will focus on multifamily and industrial projects in emerging metropolitan areas across the U.S., targeting cities that have traditionally not received significant institutional investments.
“Lisa and I are thrilled to launch Revitate Impact and continue our work to catalyze greater investment and economic activity in Opportunity Zone communities across the country,” said Revitate Co-Founder and Executive Chairman Alex Bhathal.
Bhathal and Merage, who are siblings, co-founded RevOZ Capital in 2018 and successfully raised three OZ funds on that platforms. RevOZ Capital made 13 investments in various asset classes, including multifamily, industrial, office, and hospitality.
Beyond the Revitate Impact OZ Fund, the firm also manages Revitate Cherry Tree, a multifamily fund, and Revitate Sports, a sports-related investment fund. Bhathal is the co-owner and Executive Director of Sacramento Basketball Holdings LLC, which owns the Sacramento Kings NBA franchise as well as the Golden 1 Center and Downtown Commons.
Former SEC Chairman Chris Cox is a member of Revitate’s board.
The fund is targeting a total equity raise of $150 million.