Integris Real Estate Investments Launches Opportunity Zone Fund
Integris Real Estate Investments, a sponsor of non-traded direct investment offerings, has launched Integris DLV Opportunity Zone Fund.
Integris Real Estate Investments, a sponsor of non-traded direct investment offerings, has launched Integris DLV Opportunity Zone Fund, a qualified opportunity zone fund that seeks to raise up to $25 million for the ground-up development and ownership of the Dream Las Vegas, a hotel and casino on the Las Vegas Strip.
Currently in pre-construction and design phase, the 19-story Dream Las Vegas is located at 5051 Las Vegas Blvd. It will include 526 rooms and suites, casino gaming, food and beverage venues, a pool and day club, retail venues and a fitness center. The hotel property will be branded as a Dream Hotel and managed by Dream Hotel Group.
Located in a qualified opportunity zone, the Dream Las Vegas project offering may provide potentially advantageous tax benefits to investors, the company said. The fund offers prospective investors an opportunity to defer and reduce capital gains for federal income tax purposes pursuant to an investment in a qualified opportunity zone.
According to William Shopoff, president and chief executive officer, the offering provides an “unprecedented qualified opportunity zone development on the Las Vegas Strip.”
The total raise for Integris DLV Opportunity Zone Fund is $25 million, with a minimum investment of $100,000. The partnership is expected to hold the project for 10 years “to realize the full benefits of the qualified opportunity zone.”
Headquartered in Irvine, California, Integris Real Estate Investments is an affiliate of Shopoff Realty Investments and sponsors value-add direct real estate investments for accredited investors, registered investment advisors and family offices. The firm primarily focuses on generating appreciation through the repositioning of commercial, income-producing properties and the entitlement of land assets.
