Opportunity Zones News

Ashley Tison and Jessica Millett

3 Biggest Changes in the IRS Correcting Amendments to OZ Regs, with Jessica Millett and Ashley Tison

In April, the IRS published correcting amendments to the final regulations on Qualified Opportunity Funds. What are the key changes that Opportunity Zone participants need to be aware of? Jessica Millett is partner and chair of Duval & Stachenfeld’s tax practice group. Ashley Tison is co-founder at OZ Pros. Click the play button below to listen to my conversation with Jessica and Ashley. Episode Highlights The purpose of the IRS correcting amendments to the final regulations on Qualified Opportunity Funds. A review of the three most substantive changes that the correcting amendments made to the final regulations on Opportunity Zones.

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Alex Bhathal

Urban Core Development in Opportunity Zones, with Alex Bhathal

The Sacramento Kings ownership group successfully spearheaded downtown Sacramento’s revitalization, which by the end of 2018 had resulted in a hugely positive community impact and a downtown job increase of 38 percent. Now, can they leverage the Opportunity Zone incentive to replicate this success in similar markets across the country? Alex Bhathal and his family are principal co-owners of the Sacramento Kings NBA franchise and managing partner of RevOZ Capital, an Opportunity Zone fund that focuses on urban core development. Click the play button below to listen to my conversation with Alex. Episode Highlights Why despite initial skepticism Alex eventually

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Jeffrey Maganis of Crowdcreate

How to Raise Capital for Opportunity Zone Deals, an OZ Pros Webinar

Are you ready to attract investors for your Opportunity Zone deals? On April 29, OZ Pros and Crowdcreate hosted a webinar about how to form an Opportunity Zone fund and raise capital for OZ deals. Over 200 people attended the live webinar to learn about fund formation, legal structuring, compiling a pitchbook, and crafting the perfect pitch email. Click the play button below to listen to the condensed audio recording of the webinar, with presentations by Jimmy Atkinson & Ashley Tison (OZ Pros) and Jeffrey Maganis (Crowdcreate). Or, for the full video recording, click here. Episode Highlights How to legally

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Martin Muoto

Social Impact in L.A.’s Opportunity Zones, with Martin Muoto and Reid Thomas

Why is social impact crucial to the long-term success of the Opportunity Zone initiative? Hear from the top urban Opportunity Zone fund, as awarded by the Forbes OZ 20, and the positive story of the impact that they are delivering in South Central Los Angeles. Martin Muoto is founder and managing partner of SoLa Impact, a $115 million Opportunity Zone real estate impact investment fund located in South Los Angeles, and recent winner of the Forbes OZ 20 Grand Prize for best urban Opportunity Zone fund. Reid Thomas is executive vice president and general manager of NES Financial’s specialty fund

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Constructions in Emeryville, CA

Opportunity Zone funds have raised more than $10 billion, exceeding expectations

Opportunity Zone funds have raised $10.09 billion as of the end of April, according to a survey conducted by accounting firm Novogradac. This total represents a 50 percent increase over the $6.72 billion that the firm reported near the beginning of the year. The total invested in Opportunity Zones is likely significantly more than that reported number, as survey participation is voluntary and does not include a large number of proprietary or closely-held private funds. Of the 621 Qualified Opportunity Funds tracked by the firm, 406 of them reported raising equity. The average equity raise among the 406 is $24.85

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Jill Homan

Opportunity Zone Success Strategies During COVID-19, with Jill Homan

How has the Opportunity Zone marketplace matured over the past 12 months? What has the investor response been? And is the current pandemic-instigated economic downturn threatening to change everything? Jill Homan is founder and president of Javelin 19 Investments, a Washington DC-based commercial real estate investor, developer, and Opportunity Zones advisor. Click the play button below to listen to my conversation with Jill. Episode Highlights How the Opportunity Zone marketplace has matured over the last year as the IRS has issued additional guidance and final regulations. Investor response — in particular family office response — to Opportunity Zone investing, both

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Dr. Jim White

The Book on Opportunity Zone Investing, with Jim White

What insights can be gleaned from the newest book on Opportunity Zone investing? Jim White, PhD is chairman and CEO of Post Harvest Technologies and founder of the PHT Opportunity Fund. He is also a best-selling author; his latest book is Opportunity Investing: How To Revitalize Urban And Rural Communities With Opportunity Funds. Click the play button below to listen to my conversation with Jim. Episode Highlights How Jim White’s book — Opportunity Investing — helps bring awareness to the problem of the disparity of the economic recovery following the Great Recession of 2008-09. How the book helps address a

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IRS Building

IRS deadline extended for some Opportunity Zone investors

The IRS has extended the investment deadline for Qualified Opportunity Fund investors whose 180-day deadline falls between April 1 and July 15. The investment deadline for these individuals has been automatically extended to July 15, 2020. In general, this relief may apply to investors who recognized capital gains between October 4, 2019 and January 17, 2020. Here is the section of IRS Notice 2020-23 that is of particular interest to Qualified Opportunity Fund investors, which is covered by Section 1400Z-2 of the tax code: The Secretary of the Treasury has also determined that any person performing a time-sensitive action listed

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Chris Loeffler

COVID-19: How OZ Funds and Investors Are Responding, with Chris Loeffler

How are Opportunity Zone funds responding to the ongoing coronavirus pandemic? Find out why one Opportunity Zone fund walked away from $500 million worth of real estate deals last month. And could the current economic climate present some unique opportunities for investors? Chris Loeffler is co-founder and CEO of Caliber, a private equity real estate investment firm whose Opportunity Zone fund has thus far raised $70 million. Click the play button below to listen to my conversation with Chris. Episode Highlights How the ongoing coronavirus pandemic may impact the Opportunity Zone marketplace. How Caliber’s founding during the Great Recession makes

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Jeanne Bonds

Opportunity Zone Strategies for Community Development, with Jeanne Bonds

How can investors, financial institutions, and other local stakeholders leverage the Opportunity Zone incentive to improve community development results? Jeanne Bonds is a professor of the Practice of Impact Investment and Sustainable Finance at UNC’s Kenan-Flagler Business School in Chapel Hill. She was formerly director of community economic development for the Federal Reserve Bank of Richmond. Click the play button below to listen to my conversation with Jeanne. Episode Highlights The mission of the Invest to Sustain Initiative at the University of North Carolina’s Kenan-Flagler Business School in Chapel Hill. The good and the bad of Opportunity Zones, and how

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