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Opportunity Zone Fundraising Continues Decline

Fundraising for securitized opportunity zone fund offerings tracked by investment bank Robert A. Stanger & Co. totaled $76.4 million through the first two months of 2023.

On an annualized basis, assuming no significant increase or decrease in equity flow, opportunity zone offerings tracked by Stanger are projected to raise approximately $458.4 million in 2023, a notable decline from 2022’s record fundraising of $763.1 million. Such offerings raised approximately $2.3 billion in 2021.

Top sponsors through the end of February include:

Griffin Capital Company led sales with a total equity raise of $26.1 million with a market share of 34.2%.

Cantor Fitzgerald Investors totaled $20.1 million and a market share of 26.3%.

Origin Investment’s raised $13.8 million for a market share of 18.1%.

Inland Real Estate Investment Corp.’s sales reached $12.8 million at a market share of 16.8%.

Capital Square Realty Advisors sales reached $2.2 million, capturing 2.8% market share.

As The DI Wire previously reported, Stanger announced that fundraising for Delaware statutory trust offerings, typically used to facilitate securitized 1031 exchanges, totaled just over $1.0 billion through February 2023, while non-traded REIT offerings have raised an aggregate total of $5.1 billion during the same timespan (versus cumulative redemptions of $3.4 billion).

Robert A. Stanger & Co. Inc., founded in 1978, is an investment banking firm specializing in providing investment banking, financial advisory, fairness opinion and asset and securities valuation services to partnerships, real estate investment trusts and real estate advisory and management companies in support of strategic planning and execution, capital formation and financings, mergers, acquisitions, reorganizations, and consolidations.

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