Baker Tilly Capital Launches First Opportunity Zone Investment Fund
Baker Tilly Capital has launched its first opportunity zone investment fund, The Rail Yard QOF LLC, to develop a mixed-use multifamily property called The Fort at the Rail Yard located in Green Bay, Wisconsin.
Baker Tilly Capital has launched its first opportunity zone investment fund, The Rail Yard QOF LLC, to develop a mixed-use multifamily property called The Fort at the Rail Yard located in Green Bay, Wisconsin. The company has partnered with developer TWG Development LLC on the project.
The total offering amount is nearly $15.8 million with a minimum investment of $100,000. The project is expected to cost $44.9 million.
The Fort at the Rail Yard is a five-story, 133,770-square-foot multifamily development located in downtown Green Bay, one block from the Fox River and Leicht Memorial Park. The three-acre property includes studio, one- and two-bedroom apartments, 9,000 square feet of tenant amenities, and 4,600 square feet of ground floor commercial space.
Construction is slated to begin in the third quarter of 2020 and is projected to take 24 months.
Amenities include a rooftop lounge with gas heaters; a co-working and community lounge with kitchen, coffee system, and wifi; a 24/7 fitness center and yoga room; indoor bike storage and repair equipment; and a dog run and indoor washing station.
Opportunity zones, part of the Tax Cuts and Jobs Act of 2017, are designed to stimulate new investment in low-income communities nationwide by providing potentially significant tax incentives to investors.
Baker Tilly Capital LLC is a boutique investment bank specializing in merger and acquisition, capital sourcing, project finance and corporate finance advisory services.
