Pinnacle Partners, Trilogy Investment Launch Build-to-Rent OZ Fund
Real estate investment management firm Pinnacle Partners and build-to-rent development company Trilogy Investment Company launched a new BTR opportunity zone fund intended to capitalize three shovel-ready BTR communities – two in Decatur and Augusta, Ga., and one in Huntsville, Ala. With nearly 500 homes planned across these qualified opportunity zone projects, the fund aims to dually bring needed housing to communities and offer substantial tax incentives to investors.
“This tax-advantaged real estate fund is targeting strong risk-adjusted returns, fueled by long-term positive trends in these markets with an exciting in-demand asset class,” said Jeff Feinstein, managing partner of Pinnacle Partners. “In fact, the fund’s launch is timely for investors looking for more tax-efficient strategies as they complete their year-end tax planning. We believe this is a great opportunity for investors who can manage the risk and liquidity.”
“The Pinnacle Trilogy BTR OZ Fund is a groundbreaking initiative that will channel significant investments into underserved areas, foster community development and seek to offer attractive returns to investors,” comments Jason Joseph, chief executive officer and managing partner of Trilogy.
The Pinnacle Trilogy BTR OZ Fund II, LP launch follows Pinnacle Partners’ successful closing of two BTR projects with Trilogy Investment Company through Pinnacle Partners OZ Fund VIII. This closing includes a townhome development in the NoDa submarket of Charlotte, N.C. – at least 75% leased, as previously reported by The DI Wire – and Avondale Station, a single-family home development in Avondale, Ariz., that is expected to go vertical in the first quarter of 2025.
“This growing relationship with Trilogy has allowed us to be their co-GP investment partner for their upcoming pipeline of BTR projects,” states Feinstein. “We collectively have such conviction of the BTR asset class; moving forward with three curated projects in a new opportunity zone fund is the perfect next step.”
The new fund is now open to accredited investors seeking to take advantage of tax benefits of investing in qualified opportunity zones while diversifying their investment portfolio.
Pinnacle Partners and its subsidiaries have invested approximately $270 million of equity across 17 projects that consist of more than 2,400 multifamily units, and two historic adaptive re-use office buildings. The company raises capital through the family office, high-net worth, and registered investment adviser channels.
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