Opp Zone Capital Launches Qualified Opportunity Fund
Opp Zone Capital LLC, a private equity firm and newly formed qualified opportunity fund manager, has launched OZC – Southern US RE QOF, a qualified opportunity fund.
Opp Zone Capital LLC, a private equity firm and newly formed qualified opportunity fund manager, has launched OZC – Southern US RE QOF, a qualified opportunity fund that seeks to raise $40 million from accredited investors.
Opp Zone Capital seeks to develop and rehabilitate mixed-use, multifamily, self-storage and hotel properties that lie within opportunity zone census tracts in tertiary markets of the Southeast and Southwest United States, including Mesa, Tampa, San Antonio, Houston, and Atlanta.
A further focus of the fund, within these asset classes, is geographical locations that have demonstrated positive trends regarding migration patterns, population and income growth, quality of education, and low crime rates.
Due to the coronavirus pandemic, the Internal Revenue Service recently extended the deadline for taxpayers who incurred a capital gain and had to make an investment into a qualified opportunity fund within 180 days. If that 180-day period ends between April 1 and July 15, 2020, the notice now extends the deadline to July 15, 2020.
The Tax Cuts and Jobs Act of 2017 established the opportunity zone program to stimulate economic development in distressed low-income communities by offering potentially significant tax benefits to investors that make long-term investments in these areas.
