Arch Real Estate’s Puerto Rico Fund Qualifies as Opportunity Zone Business
Arch Real Estate Holdings Corp today announced its qualification as a qualified opportunity zone business for its $700-million real estate fund that will benefit Puerto Rican families in need of affordable housing.
Arch Real Estate Holdings Corp today announced its qualification as a qualified opportunity zone business for its $700 million real estate fund intended to benefit Puerto Rican families in need of affordable housing.
Arch Real Estate plans to channel private investment capital into multiple Puerto Rican opportunity zones with a theme of affordable housing, sustainable energy, and reduced occupancy costs.
Its immediate goal is to restore more than 500 single-family homes as rental housing and build a portfolio of Puerto Rican housing assets.
Opportunity zones were created as part of the Tax Cuts and Jobs Act of 2017. They offer potentially significant tax benefits that include deferral of current capital gains, tax deductions on current gains and no capital gains on appreciation if the investment is held for 10 years.
In addition, the company can claim additional corporate tax advantages related to its presence in Puerto Rico, which is still in the process of rebuilding after the devastation of Hurricane Maria, a deadly Category 5 hurricane in September 2017.
Arch Real Estate Holdings Corp. is a private real asset company that deploys real estate, investment securities, and blockchain technology for accredited investors.
