Opportunity Zones Podcast: Recent Episodes
OpportunityDb
Weekly show featuring interviews with opportunity zones professionals and experts. If it impacts opportunity zones or the opportunity funds industry, we cover it here.
The Tax Cuts and Jobs Act of 2017 contains a unique opportunity for investors to defer and eliminate tax on gains reinvested into a newly created vehicle called a Qualified Opportunity Fund. But what are the advantages to employing an Opportunity Zone investment strategy over other tax deferral techniques? And how do they compare? Gain a complete understanding of Opportunity Zones and Qualified Opportunity Fund investing in today's episode, which is a recording of a live webinar conducted in August 2023, co-hosted by Jimmy Atkinson of OpportunityDb and Kirk Walton of GPWM Funds. Show notes & transcripts: https://opportunitydb.com/2023/09/kirk-walton-279/
In 2022, the industrial real estate sector was one of the top-performing sectors, with e-commerce growth, supply chain diversification, and new inventory management strategies being key growth drivers. The Opportunity Zone tax incentive further boosts its attractiveness to investors. Today’s episode is a recording of a live segment from OZ Pitch Day on July 20, 2023, wherein panelists Peter Ciganik, Brian Duren, and Jim Lang discussed all things Opportunity Zones and industrial real estate. Show notes & transcript: https://opportunitydb.com/2023/08/industrial-panel-278/
Single-tenant net lease private equity real estate funds have many advantages. Hannah Kirby, principal managing partner of HHKirby Real Estate Ventures, joins the show to discuss the availability and benefits of investments in single-tenant net lease funds. Show notes & transcript: https://opportunitydb.com/2023/08/hannah-kirby-277/
The OZ Sherpa himself, Mr. Ashley Tison returned for another edition of "Ask The OZ Expert" at OZ Pitch Day on July 20, 2023. Today's episode is a recording of that live segment, wherein Ashley addressed several questions from the audience. Show notes & transcript: https://opportunitydb.com/2023/08/ashley-tison-276/
The demand for last-mile industrial space located in population centers is growing rapidly. Chris Powers, founder of real estate private equity firm Fort Capital, joins the show to discuss his success as a real estate entrepreneur and why he is bullish on infill Class B industrial real estate. Show notes & transcript: https://opportunitydb.com/2023/08/chris-powers-275/
The use of pre-manufactured building materials is growing rapidly on real estate development sites. John Wolfington at Exceler Building Solutions joins the show to discuss how his firm has has raised $5 million through an Opportunity Zone Fund, and why he's bullish on the future of pre-manufactured buildings. Show notes & transcript: https://opportunitydb.com/2023/07/john-wolfington-274/
The vast majority of Opportunity Zone projects are ground-up development deals. But in Cleveland, there are numerous opportunities to renovate underutilized historic buildings. Kevin Wojton, managing member at IOTA Development Group, joins the show to discuss how he is acquiring historic buildings in Cleveland's Opportunity Zones for pennies on the dollar, and giving them new life. Show notes & transcript: https://opportunitydb.com/2023/07/kevin-wojton-273/
Learn more about Opportunity Zone investments at OZ Pitch Day. Visit OZPitchDay.com to register today.
PACE financing is becoming a more important part of the capital stack as traditional lenders pull back in today's high interest rate environment. Alexandra Cooley, CIO of Nuveen Green Capital, joins the show to discuss commercial Property Assessed Clean Energy (C-PACE) financing, what it is, who's eligible to receive it, and how the loans can be securitized. Show notes & transcript: https://opportunitydb.com/2023/07/alexandra-cooley-271/
Origin Investments was one of the early adopters of Opportunity Zones in 2018. They have since raised $585 million across their first two Opportunity Zone funds. And now they are gearing up to launch OZ Fund III. Michael Episcope, principal co-founder at Origin investments, joins the show to discuss Origin's story, where investors can find value right now, and whether Opportunity Zones are still good deals, given current macroeconomic conditions. Show notes & transcript: https://opportunitydb.com/2023/06/michael-episcope-270/
Combining safer asset-backed real estate with high-multiple venture investments in untapped markets may be an optimal Opportunity Zone strategy for investors seeking risk diversification. Kelly Ann Winget of Alternative Wealth Partners and Rachel Vass of Syzygy Cities have teamed up to form the EPIC OZ Fund. They join the show to discuss how their fund is unique, and the importance of aligning incentives within public-private partnerships when developing venture real estate. Show notes & transcript: https://opportunitydb.com/2023/06/epic-oz-fund-269/
Capital markets have been volatile as of late. All forms of investment have been impacted, and Opportunity Zones are no exception. Ross Baird, founder of Blueprint Local, joins the show to discuss that impact, plus, some of the biggest lessons that he has learned after investing $200 million of OZ equity over the past four years. Show notes & transcript: https://opportunitydb.com/2023/06/ross-baird-268/
Limited partners (LPs) in private investment funds face many unique challenges when it comes to administration, portfolio management, and cash flow planning. Litan Yahav, founder and CEO of Vyzer, joins the show to discuss these challenges that High Net Worth investors face as LPs in multiple private placement offerings, and how his product can help address their investment management needs. Show notes & transcript: https://opportunitydb.com/2023/06/litan-yahav-267/
In October, GTIS Partners hosted their GTIS Investor Day at their headquarters in New York City, which included market insights panels, followed by an Opportunity Zone project tour in New Jersey. Today's podcast episode a recording of that event's Opportunity Zones panel, featuring Jimmy Atkinson from OpportunityDb, Peter Ciganik from GTIS Partners, Joseph Scalio from KPMG, and Kunal Shah from iCapital. Show notes: https://opportunitydb.com/2022/12/gtis-investor-day-233/
Opportunity Zones can be a powerful tool in wealth creation and wealth preservation. The tax benefit has the ability to compound, which not only preserves but creates wealth. Brian Duren, signing director at CliftonLarsonAllen (CLA), joins the show to discuss the Opportunity Zone lifecycle, and the role that the unique tax benefits of OZ investing can play in wealth planning. Show notes: https://opportunitydb.com/2022/11/brian-duren-232/
In this panel from OZ Pitch Day Fall 2022, Kirk Walton and Gordon Goldie review strategies for performing due diligence on OZ funds. Show notes: https://opportunitydb.com/2022/11/due-diligence-231/
In this panel from OZ Pitch Day Fall 2022, Paul Saint-Pierre and John Sciarretti discuss current trends in the OZ marketplace and what this means for OZ investors. Show notes: https://opportunitydb.com/2022/11/investing-trends-230/
In this keynote address from OZ Pitch Day Fall 2022, Shay Hawkins takes a look back at the first few years of the Opportunity Zone program and predicts what may lie ahead. Show notes: https://opportunitydb.com/2022/11/shay-hawkins-229/
In the wake of the midterm elections, how might the balance of power in the next session of Congress affect Opportunity Zones in 2023 and beyond? Also, potential legislative changes that could form a new "Version 2.0" of Opportunity Zones, and what the OZ industry can do to help its own cause. Alex Bhathal, managing partner at Revitate, and Brett Siglin, partner at Jennings Strouss Law Firm, join the show to discuss the impact of the 2022 midterm elections and the future of OZ tax policy.. Show notes: https://opportunitydb.com/2022/11/midterm-election-228/
How can the Opportunity Zone incentive catalyze community impact-oriented investing? Allivate Impact Capital's co-founders, Noelle St.Clair Lentz and Doug Schaeffer, join the show to discuss how investing for impact can catalyze positive community outcomes, and lead to lucrative financial returns for investors. Show notes: https://opportunitydb.com/2022/11/allivate-impact-capital-227/
Register now at OZPitchDay.com. (Plus, get your free bonus guides!) OZ Pitch Day is the biggest online Opportunity Zones event of the year. It's a free, one-day, live event that takes place via Zoom -- Wednesday, November 9th.
Four years into the launch of the first Qualified Opportunity Funds, how have expectations of the tax policy changed? And what types of success have some early adopters had so far? Stephanie Copeland, managing partner at Four Points Funding, joins the show to provide an update on her team's efforts to develop in Opportunity Zone communities in Colorado over the past four years. Show notes: https://opportunitydb.com/2022/11/stephanie-copeland-226/
The Opportunity Zones tax policy can be utilized as a tool to help revitalize urban neighborhoods. But getting the local communities involved can often be a challenge. Sherri Franklin, founder and CEO of Urban Design Center, and Delores Brown, CEO of Community Economic Development Corporation, join the show to discuss how they are working with investors and local residents to catalyze revitalization of urban communities in Los Angeles and Long Beach. Show notes: https://opportunitydb.com/2022/11/sherri-franklin-delores-brown-225/
Opportunity Zones have raised over $100 billion of capital. But what good is it doing? Blake Christian, CPA and tax partner at HCVT, joins the show to discuss the importance of advocacy on behalf of the Opportunity Zones policy. Show notes: https://opportunitydb.com/2022/10/blake-christian-224/
Four years into the Opportunity Zone program, success stories are abundant. Today's podcast episode is the first in a series of episodes that will highlight stories of true impact that the OZ program has helped to create. Roi Maufas, co-founder and lead designer at MIT Modular, joins the show to share the job creation success story of MIT Modular, a builder of affordable, sustainable housing. Show notes: https://opportunitydb.com/2022/10/roi-maufas-223/
Ashley Tison and I have been to nearly every Opportunity Zone Expo since the group began organizing conferences in early 2019. While the early Expos were focused on navigating the new legislation and regulations, this most recent Expo in Phoenix earlier this month served to highlight the need for the more mature industry -- now four years into the program -- to tell more Opportunity Zone success stories, in the hopes that the policy eventually gets reformed and extended. On today's episode, OZ Pros founder Ashley Tison joins to discuss this topic and recap some of the other big themes at the OZ Expo. Show notes: https://opportunitydb.com/2022/10/ashley-tison-222/
Opportunity Zones are helping drive capital into the revitalization of mobile home park communities in some of the country's poorest areas. Sam Hales, founder and CEO of Saratoga Group, joins the show to discuss how he has used Opportunity Zones over the past few years to revitalize poorly run mobile home communities, and why MHCs can be a good inflation-resistant asset class for investors. Show notes: https://opportunitydb.com/2022/10/sam-hales-221/
The stock market is down, inflation is at 40-year highs, and interest rates are on the rise. How are rising debt costs impacting the operations of Qualified Opportunity Fund operators? James Brunger, chief sales officer at Capital Square, joins the show to discuss Capital Square’s DST and Opportunity Zone programs, and how recent moves by the Fed are impacting where investors can still find value. Show notes and transcript: https://opportunitydb.com/2022/09/james-brunger-220/
The true potential of the Opportunity Zone program has largely been left unlocked. On today's episode, seven OZ insights that every investor should know. Today's episode is a re-post of an earlier episode of The Alternative Investment Podcast. Show notes: https://opportunitydb.com/2022/09/7-insights-219/
Which cities have the largest number of Opportunity Zones? The top three cities -- New York, Los Angeles, and Chicago -- are to be expected. But numbers 4 through 10 may be somewhat surprising. On today's episode, we review the top 25 cities with the highest amount of Opportunity Zones, and take a deep dive into the top 10 cities, walking through geographic maps and income data. Show notes: https://opportunitydb.com/2022/09/cities-218/
Is there a ticking time bomb that may disqualify more than $1.3 billion of funds raised by Qualified Opportunity Funds? Kirk Walton, co-founder and managing partner of GPWM Funds, joins the show to discuss potential solutions to QOF filing errors and his approach to Opportunity Zone investing. Show notes: https://opportunitydb.com/2022/09/kirk-walton-217/
Cost segregation to achieve accelerated depreciation and can greatly improve after-tax returns for real estate investors. But it can be a an even more powerful tool for Opportunity Zone deals. Valerie Grunduski, partner and real estate tax specialist at Plante Moran, and Jeremy Sompels, principal and cost segregation senior manager at Plante Moran, join the show to discuss how the effect of cost segregation is particularly powerful for investors in Qualified Opportunity Funds. Show notes: https://opportunitydb.com/2022/08/plante-moran-216/
Passive real estate investing can bring cash flow and appreciation to investors who don't necessarily want to be actively hands-on. John Rubino, founder and COO of JID Investments, joins the show to discuss how High Net Worth investors should think about passive real estate investing with Qualified Opportunity Funds. Show notes: https://opportunitydb.com/2022/08/john-rubino-215/
The inefficient real estate marketplace in Puerto Rico can create compelling opportunities for investors seeking value. Local tax incentives layered in with Opportunity Zone benefits can drive highly attractive return projections. But investing on the island does not come without risk. Ari Kresch, strategic advisor for Island Paradise QOF, joins the show to discuss how he finds value in Puerto Rican real estate, the vast majority of which is located within an Opportunity Zone. Show notes: https://opportunitydb.com/2022/08/ari-kresh-214/
Ashley Tison of OZ Pros joined OZ Pitch Day last month to field live questions from our attendees. Over the past three years, Ashley has helped form well over 1,000 Opportunity Zone entities. On today's show, Ashley answers questions about rental properties, trusts, raw land, grants, and more. Show notes: https://opportunitydb.com/2022/08/ashley-tison-213/
In April, members of Congress in the House and Senate introduced bipartisan Opportunity Zone legislation that would extend and improve the four-year-old tax policy. In this panel from OZ Pitch Day Summer 2022, Blake Christian, partner at HCVT, and Reid Thomas, executive vice president at JTC Americas, discuss the new legislation and how it may impact investors and the OZ marketplace if enacted. Show notes: https://opportunitydb.com/2022/08/oz-reform-legislation-212/
Investing in Opportunity Zones can be an effective tax mitigation strategy for High Net Worth investors. But when are OZs the right investment structure to use when considering taxation and overall portfolio construction strategy? In this panel from OZ Pitch Day Summer 2022, Louis Reynolds, CEO of Synergistic Exchange Solutions, and Nick Rosenthal, managing director at Griffin Capital, discuss how Opportunity Zones compare to other tax mitigation strategies, including Section 1031 exchanges, Delaware statutory trusts (DSTs), and Section 721 UPREITs. Show notes: https://opportunitydb.com/2022/08/tax-mitigation-panel-211/
Debt is commonly used to amplify returns on real estate investments, and Opportunity Zone deals are no exception. But what is the proper amount of debt to appropriately leverage any given investment, and why might that target change for an OZ deal? Louis Dubin, principal and managing partner at Redbrick LMD, joins the show to discuss how he determines the optimal amount of debt to use in Opportunity Zone deals. Show notes: https://opportunitydb.com/2022/08/louis-dubin-210/
Inflation recently hit a four-decade high of 9.1%. The stock market is down double digits year to date. The U.S. economy is likely in a recession. What do investors need to know right now about Opportunity Zones and macroeconomic turbulence? Chris Loeffler, CEO and co-founder of Caliber, joins the show to discuss how investors should consider these issues, and whether there may be opportunities to take advantage of. Show notes: https://opportunitydb.com/2022/08/chris-loeffler-209/
While other major U.S. cities experienced a resurgence in the 1980s and 1990s, Detroit got left behind for several years. But now, the ongoing resurgence of Detroit may be creating a compelling investment opportunity for Opportunity Zone investors. Jed Howbert, partner at Greatwater Opportunity Capital, joins the show to discuss Detroit's bankruptcy and ensuing economic transformation, and the opportunity for real estate investors to capitalize. Show notes: https://opportunitydb.com/2022/07/jed-howbert-208/
The stock market is down more than 20% year to date. Interest rates are on the rise to tackle the highest inflation rate in 40 years, but this may inevitably lead to a recession. How are Opportunity Zones potentially being impacted by these turbulent macroeconomic conditions? Erik Hayden, founder and CEO of Urban Catalyst, joins the show to discuss inflation, the market downturn, cap rate compression, and rising interest rates, and what effect these trends are having on Opportunity Zone fundraising and capital deployment. Show notes: https://opportunitydb.com/2022/07/erik-hayden-207/
The Section 1031 exchange has been around for over 100 years. Much like Opportunity Zones, chaining together a series of 1031 exchanges can offer an incredible tax incentive for real estate investors. But when might an OZ investment be a better option? Lawrence Jatsek, managing partner at CRE Development Capital, joins the show to discuss how Opportunity Zones compare to 1031 exchanges, and when to make use of one or the other as a real estate investor. Show notes: https://opportunitydb.com/2022/07/lawrence-jatsek-206/
A housing affordability crisis currently plagues our nation. Can Opportunity Zones be utilized to effect real change that would bring more high density housing stock online? Brad Padden, founder and CEO of Housing Diversity Corporation, joins the show to discuss how Opportunity Zones can help fulfill housing abundance and job creation in economically distressed communities. Show notes: https://opportunitydb.com/2022/07/brad-padden-205/
Ultra High Net Worth investors and family offices are ideally suited for real estate investments in Opportunity Zones. The long holding period and strategic differences between OZs and other tax-advantaged investments can be complimentary in a large investment portfolio. Alex Bhathal, founder and executive chairman at Revitate, joins the show to discuss the evolution of Opportunity Zones and how family offices have come to better understand the incentive. Show notes: https://opportunitydb.com/2022/07/alex-bhathal-204/
Oregon has been scrutinized for some of the state's Opportunity Zone selections, particularly those in downtown Portland. Vanessa Sturgeon, founder of Sturgeon Development Partners, joins the show to discuss how the Opportunity Zone nominating process unfolded in Oregon, why it was so controversial, and where her firm is developing in the state. Show notes: https://opportunitydb.com/2022/06/vanessa-sturgeon-203/
When a High Net Worth investor triggers a capital gain, there are a few different tax mitigation options available, including the 1031 Exchange, a Delaware Statutory Trust (DST) investment, and Opportunity Zones. But when is each of these options appropriate? And how can advisors place their clients into the appropriate tax mitigating investment products? Louis Reynolds, CEO of Synergistic Exchange Solutions, joins the show to discuss real estate as an asset class, and when Opportunity Zones or other tax mitigation strategies are right for High Net Worth investors. Show notes: https://opportunitydb.com/2022/06/louis-reynolds-202/
Real estate securities laws that apply to Qualified Opportunity Funds can have a huge (and often times ignored) impact on OZ developers and project sponsors. Coni Rathbone, real estate and securities attorney at Dunn Carney, joins the show to discuss what real estate developers and fund operators need to be aware of before raising Opportunity Zone capital from investors. Show notes: https://opportunitydb.com/2022/06/coni-rathbone-201/
Community activation may be the key to long-term success of Opportunity Zones. Chris Cooley, CEO of OZworks Group, joins episode #200 of the Opportunity Zones Podcast to discuss OZ advocacy, why community-led OZ projects are crucial to the long-term success of the initiative, and updates on the progress of OZworks Group's online community. Show notes: https://opportunitydb.com/2022/06/chris-cooley-200/
It's incredibly easy for Qualified Opportunity Fund managers and limited partners who invest in such funds to get tripped up by many of the novel complexities that arise from the statute and regulations dictating Opportunity Zone investing. Andrew Gradman, a tax attorney who specializes in Opportunity Zone transactions, joins the show to discuss his recent article for California Tax Lawyer, titled "QOZ Planning When Penalties Are A Certainty." Show notes: https://opportunitydb.com/2022/06/andrew-gradman-199/
Multifamily is the most popular asset class for Opportunity Zone investors. According to the latest Qualified Opportunity Fund survey data from Novogradac, approximately 80% of all QOFs have exposure to residential real estate. Scott Hawksworth, co-founder of MultifamilyInvestor.com, joins the show to discuss multifamily real estate investing trends that are unfolding in 2022, how current macroeconomic conditions are affecting investors, and how Opportunity Zone investors are reacting to the asset class. Transcript and show notes: https://opportunitydb.com/2022/06/scott-hawksworth-198/
With stocks and bonds trending downward as of late, record amounts of money are pouring into alternative investments, including Qualified Opportunity Funds. Andy Hagans, co-founder of AltsDb, joins the show to discuss where Opportunity Zones fit into the broader alternative investments asset class and how financial repression is creating an opportunity for OZ investors. Transcript and show notes: https://opportunitydb.com/2022/06/andy-hagans-197/
Opportunity Zone reform legislation, social impact, and fundraising trends were hot topics at last month's Novogradac OZ Conference in Long Beach, California. Ashley Tison, co-founder of OZ Pros, joins the show live on-site to discuss where the Opportunity Zone program currently stands and what the future holds for OZ investments. Transcript and show notes: https://opportunitydb.com/2022/05/ashley-tison-196/
In today’s “man-on-the-street” style episode, Jimmy Atkinson conducts five rapid-fire live interviews at the ADISA 2022 Spring Conference, featuring OZ investing insights from Erik Hayden (Urban Catalyst), James Brunger (Capital Square), Jamie Nahon (Eagle OZ), Matt Iak (U.S. Energy Development Corporation), and Rob Johnson (Realized). ADISA’s Spring Conference is designed for all industry professionals who sponsor, analyze, market, distribute or sell alternative investments with several educational sessions offered, many of which qualify for Continuing Education credit. Transcript and show notes at OpportunityDb.com
Investing across different asset classes provides not only diversification benefits but alternative sources of growth and revenue. Opportunity zones can offer strong investment returns with an added social impact component in the United States and in Puerto Rico. Kira Golden is the CEO of Direct Source Wealth, a real estate development company out of Denver that does direct deals and serves as a platform for new and experienced investors. By the time she was 18, Kira had holdings in both the real estate and stock market. Transcript and show notes at OpportunityDb.com.
Learn how you can voice your support for the Opportunity Zones Improvement, Transparency, and Extension Act (H.R.7467 / S.4065). The panel was moderated by OpportunityDb founder Jimmy Atkinson. Panelists: Chris Cooley, Catherine Lyons, and Rachel Reilly. Transcript and show notes at OpportunityDb.com.
The hospitality industry has been one of the most watched trends in recent years, with boutique hotels at the forefront of the ever-evolving hospitality business. Smaller, less commercial hotels offer the safety and personalized service travelers seek in a post-pandemic world. Coupled with an Opportunity Zone incentive, investors are taking notice - and the result is as exciting as it is unique. David Kessler, founder and CEO of Sandstone Partners, shares his experiences in the boutique hotel industry, specific to projects in OZ communities. David has over 19 years of real estate investment and development experience. Sandstone Partners targets underperforming mixed-use, hospitality, and multifamily properties executing business plans ranging from value-add to ground-up development. Transcript and show notes at OpportunityDb.com.
Bipartisan and bicameral legislation was recently introduced that would improve Opportunity Zones and push back the tax incentive’s deferral date by two years, from 2026 to 2028. The extension will allow OZ investors to continue attracting capital for a program that both supports the local tax base and boosts job growth in these communities. Senator Tim Scott's former tax adviser, Shay Hawkins is founder and CEO of the Opportunity Funds Association (OFA) -- a Washington, DC-based advocacy, education, and communications group for the Qualified Opportunity Fund industry. Transcript and show notes at OpportunityDb.com.
When combined with the opportunity zone incentive, can orchard farming be a compelling asset class for investors? What are the risks and benefits? Farming offers unique features compared to traditional real estate, but it's imperative to understanding these variables before diving in. Listen in to learn more from our guest Josh Guggenheim, the Director of Acquisitions at Gold Leaf Farming, a hybrid farming company and investment firm located in San Francisco, California.
In this panel from OZ Pitch Day Spring 2022, a trio of experts discuss the various strategies that investors can use to optimize the tax efficiency of their portfolios. This episode is the audio version of an OZ Pitch Day Spring 2022 panel titled, “Opportunity Zone Strategies for High Net Worth Investors.” The panel was moderated by OpportunityDb founder Jimmy Atkinson. Panelists: Jay Frank, Rob Johnson, and Scott Hawksworth. Recorded live on March 29, 2022. Transcript and show notes at OpportunityDb.com.
What are the differences between Opportunity Zones and 1031 Exchanges? And why might one be a good choice for your own investments? Listen as we discuss this topic and more with Jay Frank, the President of Cantor Fitzgerald Capital and Chief Operating Officer of Cantor Fitzgerald Investment Management. Cantor Fitzgerald is a global financial services and real estate investment management firm. Jay is involved in overseeing the day-to-day operations of the business, providing direction and implementing strategic initiatives. Transcript and show notes at OpportunityDb.com.
Find out how you can invest in distressed areas around the country while connecting with some of the brightest professionals in the opportunity zones (OZ) arena during this two-day conference sponsored by Novogradac, a national professional services organization that consists of affiliates and divisions in certified public accounting, valuation, and consulting. Transcript and show notes at OpportunityDb.com.
Erik Hayden, founder and CEO of Urban Catalyst, returns to the show to provide updates on Silicon Valley Opportunity Zones and what funds are currently proving attractive investment opportunities. Urban Catalyst is the largest developer of Opportunity Zone real estate in Silicon Valley. Transcript and show notes at OpportunityDb.com.
What does it mean to be vertically integrated in the opportunity zones investment process? And how might vertical integration increase profits and shareholder returns? Chris Loeffler is the CEO of Caliber and serves as Chairman of the Company’s Board of Directors. As CEO, Chris directs and executes global strategy, oversees investments and fund management, and contributes to private and public capital formation. Transcript and show notes at OpportunityDb.com.
Since its inception, opportunity funds have captured the attention of investors, asset managers, policymakers, community leaders, and financial institutions, with no sign of the trend abating. In fact, interest has been staggering due to the tax benefits, ranging from tax-free appreciation to capital gains deferral. But approach and fit are key components to scale and sustain an OZ investment strategy. And selecting the right fund and fund manager is critical to long-term success. Greg Genovese, CEO of USG Realty Capital and Investors Choice OZ Fund, shares his view on investor advocacy and how to ensure alignment among stakeholders within OZ. Transcript and show notes at OpportunityDb.com.
Misconceptions often cause investors to opt out of potentially profitable and viable investment opportunities. The Federal Opportunity Zone tax incentive program has had its fair share of uncertainties due to miseducation and confusion around alternative investments. But with the right fund manager and scheme in place, investors can feel good about helping underserved communities while experiencing significant tax breaks. Michael Episcope unpacks opportunity zone investing misconceptions and explores the potential benefits of adding alternative assets to a portfolio. Michael is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Transcript and show notes at OpportunityDb.com.
Taxpayers can defer taxes by reinvesting capital gains from an asset sale into a QOF. To do so, IRS Form 8996 must be filed by all taxpayers holding a QOF investment. Guidance on how to fill out this form will eliminate inconsistencies prior to submission. Ashley Tison is an Opportunity Zone consultant and attorney based in Charlotte, North Carolina. Along with Jimmy Atkinson, he is co-founder of OZ Pros, an Opportunity Zone advisory firm. Transcript and show notes at OpportunityDb.com.
Under the opportunity zones (OZ) incentive, taxpayers can defer taxes by reinvesting capital gains from an asset sale into a qualified opportunity fund. To do so, IRS Form 8997 must be filed by all taxpayers holding a QOF investment. Guidance on how to fill out this form will eliminate confusion and inconsistencies prior to submission. Ashley Tison is an Opportunity Zone consultant and attorney based in Charlotte, North Carolina. Along with Jimmy Atkinson, he is co-founder of OZ Pros, an Opportunity Zone advisory firm. Transcript and show notes at OpportunityDb.com.
How can the Ultra High Net Worths and family offices use Opportunity Zones as a strategy for social impact investing with great and tax savings? Bob Hutchins is the Managing Director of the Ellavoz Shared Values Opportunity Fund and President & CEO of Ellavoz Impact Capital. The company sponsors and manages the Ellavoz Shared Values Opportunity Fund and the Ellavoz Impact Angel Network. Transcript and show notes at OpportunityDb.com.
A diversified investment portfolio has the ability to weather volatility and improve profitability. Coupled with alternative investment opportunities (namely real estate acquisition), diversified portfolios can maximize investor chances of achieving their financial objectives. But to achieve true diversification, it's important to first understand the challenges and complexities of these real estate opportunities. Chad Debolt, Managing Director and Principal at Saxum Real Estate is an experienced investment professional with broad financial expertise from over a decade of experience in both the private equity real estate and fixed income trading markets. Transcript and show notes at OpportunityDb.com.
Opportunity Zones provide many benefits, including federal capital gains tax advantages for investments made in these areas. Socially conscious investors are also turning their attention to opportunity zones, as QOFs offer local communities housing and supportive services for residents. Kim Kuhle is the CEO of the Veterans Victory Opportunity Fund (VVOF), a private-equity real estate Qualified Opportunity Fund (QOF) designed as a vehicle for investors with capital gains equity. Transcript and show notes at OpportunityDb.com.
There are many Qualified Opportunity Funds that encompass multifamily real estate and are well worth any investor’s consideration. Investing in multifamily property offers a wide variety of advantages for investors, such as leverage, cash flow, equity growth, and, tax savings are all financial features of a sound multifamily real estate investment. Scott Hawksworth is a co-founder of MultifamilyInvestor.com and an entrepreneur based in Chicago. MultifamilyInvestor.com covers trends and opportunities in multifamily real estate investing and helps High Net Worth investors, family offices, RIAs & financial advisors, and industry service providers navigate the ins and outs of the multifamily landscape. Transcript and show notes at OpportunityDb.com.
.
ADUs (accessory dwelling units) have become more more prevalent in recent years. Also referred to as mother-in-law suites, multigenerational units, and in-law units, ADUs offer both environmental and financial benefits for investors and tenants alike. Paired with a Qualified Opportunity Zone project, the advantages of ADUs are even greater. Adam Stone is a licensed Real Estate Broker and member of the California Bar. He has expertise in various aspects of both residential and commercial real estate including acquisition, management, entitlements, litigation, joint ventures, municipal codes, and San Diego zoning and ordinances. Transcript and show notes at OpportunityDb.com.
Impact investing is an investment strategy that strives to generate social or environmental benefits in addition to financial gains. It also spans diverse range of assets, including bonds, public equity, and private equity, such as opportunity zones and New Market Tax Credits. But how does impact investing work, and how might one select a specific fund to invest in? Reid Thomas is Chief Revenue Officer and Managing Director of JTC Americas, the North American division of JTC Group, where he is responsible for overseeing the day-to-day operations of the Specialty Financial Administration business unit. Transcript and show notes at OpportunityDb.com.
Opportunity Zone investments come with inherent potential risk, but they also offer several key advantages. Before diving in, it's important to understand investment strategies specific to OZ assets and projects. This episode is the audio version of a live opportunity zones panel at the AnySizeDealsWeek Festival of Real Estate Innovation in Las Vegas, Nevada with a focus on successful opportunity zones investment strategies. The panel was moderated by OpportunityDb founder Jimmy Atkinson. Panelists: Ashley Tison, Bo Kemp, Peter Ciganik, and Jill Homan. Transcript and show notes at OpportunityDb.com.
What happens to opportunity zone capital if the qualified opportunity zones fund sells? And how does reinvestment of those proceeds from that sale occur before the end of a 10-year holding period? Transcript and show notes at OpportunityDb.com.
What are the investment due diligence considerations when evaluating Opportunity Zone business and real estate deals? This episode is the audio version of an OZ Pitch Day panel titled, “How to Evaluate Opportunity Zone Deals.” The panel was moderated by OpportunityDb founder Jimmy Atkinson. Panelists: Greg Genovese, Gordon Goldie, and Jill Homan. Recorded live on November 3, 2021. Transcript and show notes at OpportunityDb.com.
Why are cryptocurrency investors turning to opportunity zones for tax relief and social and economic good? Opportunity zone offer investors unprecedented tax incentives; combined with Bitcoin, investors can expect significant returns with a positive social impact. Tom Frazier is the CEO of Redivider Blockchain, an investment fund that brings together Opportunity Zones to create jobs, immersion and geothermal cooled edge data centers, and Bitcoin mining to help propel the future of humanity. Transcript and show notes at OpportunityDb.com.
When combined with the opportunity zone incentive, farmland can be a compelling asset class for investors. Farmland offers unique features compared to traditional real estate and often outperforms other investments during recessionary environments. But what makes agriculture a low-risk, high-return asset and how can investors capitalize on these opportunities? Paul Pittman is the Chairman and CEO of Farmland Partners Incorporated, and John Heneghan is the founder and manager of the Promised Land Opportunity Zone Fund. Transcript and show notes at OpportunityDb.com.
Opportunity zones can benefit multifamily investors in a range of ways. Multifamily investments offer several tax benefits, income appreciation, and are a hedge against inflation. Coupled with OZ funds, multifamily housing offers several more compelling advantages. In particular, the Southeast is an area with substantial growth potential for OZ fund investors in this particular real estate niche. James Brunger serves as executive vice president, national sales of Capital Square 1031, a national real estate investment and management company. Whitson Huffman oversees investment activity at Capital Square, which includes leadership of the firm’s real estate investments related to its Delaware statutory trust/Section 1031 exchanges, qualified opportunity zone funds and other private placement investment offerings. Transcript and show notes at OpportunityDb.com.
What does the future holds for the tax-incentivized Opportunity Zone investments? Will there be a reasonable expansion of the OZ policy in the coming years? While future legislation for OZs remains open to debate, this bipartisan investment program offers distinct financial benefits with social and economic impacts. Shay Hawkins is the co-founder of the Opportunity Funds Association, an organization that enables Opportunity Fund managers and investors to participate in public policy, share best practices, and communicate the industry’s contributions to distressed rural and urban communities across the country. Transcript and show notes at OpportunityDb.com.
When it comes to managing capital gains tax, are Opportunity Zones the solution? Are these funds, in fact, the quintessential hedge in an uncertain and rapidly-changing economy? As awareness increases, investors and advisors look to QOZ funds (and their deadlines) as a primary vehicle for their gains. Ashley Tison is founder and president of OZPros, a national leader in helping people with capital gains harness the generational wealth creation opportunity of Opportunity Zones. Transcript and show notes at OpportunityDb.com.
How has the Opportunity Zone marketplace evolved since 2018 and what changes may be forthcoming? This episode is the audio version of an OZ Pitch Day panel titled, "The State of the Opportunity Zone Marketplace." The panel was moderated by OpportunityDb founder Jimmy Atkinson. Panelists: Emily Lavery, Catherine Lyons, and Reid Thomas. Recorded live on November 3, 2021.
What are the current trends in alternative investments and how can investors take advantage of the growth to come? Transcript and show notes at OpportunityDb.com.
How can investors execute long-term investments in low-income urban and rural communities via qualified Opportunity Zones funds? Chris Knoppe owns and operates CBUS OZ Funds with his brothers, Sean and Brian. The fund specializes in urban redevelopment in Columbus, Ohio with a long-term focus on delivering value to investors by providing affordable and attainable housing solutions throughout the urban core of Columbus. Show notes and transcript at OpportunityDb.com
Time is running out on the December 31, 2021 Opportunity Zone deadline. If you’re an investor with capital gains, how can you find a suitable Opportunity Zone investment before the end of this year? On today’s episode, you’ll learn more about the OpportunityDb OZ Pitch Day Fall 2021 Online Event. OZ Pitch Day will take place on Wednesday, November 3 and Thursday, November 4. The event will feature educational content and pitches from over a dozen different Qualified Opportunity Funds. Learn more at OZPitchDay.com
Multifamily investment opportunities can have various structures, risks, and return profiles. But what makes this what makes this investment option compelling and potentially actionable? And how can Opportunity Zones play a role in that? Neil Sherlock is the Vice President Capital Markets at Starpoint Properties, LLC, a private real estate firm with over 25 years of delivering market-leading returns throughout the United States. Transcript and show notes at OpportunityDb.com
How will the first publicly traded Opportunity Zone fund impact the industry? Show notes and transcript at OpportunityDb.com
Are tertiary markets in the Southeast U.S. a prime opportunity for real estate investors? Transcript and show notes at OpportunityDb.com
A new book that offers a critical view of opportunity zones just hit bookshelves. What are some of the biggest shortcomings of the tax policy, and how can it be improved? David Wessel is a senior fellow in Economic Studies at Brookings and director of the Hutchins Center on Fiscal and Monetary Policy, the mission of which is to improve the quality of fiscal and monetary policies and public understanding of them. He joined Brookings in December 2013 after 30 years on the staff of The Wall Street Journal. Show notes and transcript at OpportunityDb.com
What tax policy changes may unfold soon, and how might Opportunity Zones be reformed later this year or in 2022? Transcript and show notes at OpportunityDb.com.
What are some of the key similarities and differences between Sun Belt Opportunity Zone deals and Midwest Opportunity Zone deals? Transcript and show notes at OpportunityDb.com
What are some of the biggest lessons learned from the first three years of the Opportunity Zones program? Transcript and show notes at OpportunityDb.com
How can Opportunity Zone be leveraged to create more affordable housing that has a commitment to sustainability? Transcript and show notes at OpportunityDb.com
Can opportunity zones be leveraged for historic renovation projects? How does the combination of historic tax credits and the opportunity zone incentive improve investment returns? John Blatchford is Owner and Founder of Kunst, a real estate company that buys and renovates vacant historic buildings in Cincinnati, Ohio. Transcript and show notes at OpportunityDb.com
How can non-accredited investors with smaller capital gains participate in Opportunity Zone investing? Transcript and show notes at OpportunityDb.com
How does real estate innovation intersect with Opportunity Zones? How can Opportunity Zones catalyze business development and business investment in low income communities? Transcript and show notes at OpportunityDb.com
Dave Kunz is managing partner and general manager of Hall Labs. Will Walker is a private equity veteran and advisor to Hall Labs. Transcript and show notes at OpportunityDb.com
What changes to tax policy are likely coming under the Biden administration? If enacted, how will these changes impact the appeal of Opportunity Zone funds and the returns available to investors? Several Opportunity Zone experts provided their insights on a live panel recorded on July 27, 2021 during OZ Pitch Day, titled "Tax Policy Changes & Opportunity Zones." Today's podcast episode is the audio version of that panel. Moderated by OpportunityDb founder Jimmy Atkinson, the panel featured Shay Hawkins of the Opportunity Funds Association, Kunal Merchant of CalOZ, and John Sciarretti of Novogradac. Show notes and transcript at OpportunityDb.com
What are the advantages of a Qualified Opportunity Fund that is structured as a REIT instead of a partnership? How does the level of diversification in a fund impact its risk/return profile? Peter Ciganik is Managing Director at GTIS Partners, a global real estate investment firm based in New York. Transcript and show notes at OpportunityDb.com
Do record stock market levels, the high inflation environment, and the new economy pose an opportunity for Opportunity Zone investors? Are there silver linings in rising prices? Greg Genovese is CEO of USG Realty Capital and Investors Choice OZ Fund, a new Qualified Opportunity Fund offered by USG/OZI. Transcript and show notes at OpportunityDb.com
Are there misperceptions in the market? Do investors overreact to sentiment? And is there an opportunity for level-headed contrarian view Opportunity Zone investors? Riaz Taplin is principal and founder of Riaz Capital, an Oakland, California based real estate management firm focused on developing workforce housing in California's urban Opportunity Zones. Transcript and show notes at OpportunityDb.com
How much success have some Opportunity Zone investors had in deploying capital into early stage venture companies? Leonard Mills is CEO of Verte OZ, an Opportunity Zone fund that invests in high-growth disruptive businesses. Transcript and show notes on OpportunityDb.com
With impending tax policy changes and upcoming investing deadlines, is the Opportunity Zones marketplace nearing a critical inflection point? Nick Parrish is managing director and head of business development at Cresset Partners. Transcript and show notes on OpportunityDb.com
Are Opportunity Zones being underutilized? And what's in store for the Opportunity Zone marketplace as we come out of the pandemic and head into the second half of 2021? This episode is the audio recording of a live panel from the ADISA 2021 Spring Conference. Erik Hayden (Urban Catalyst), Matt Iak (U.S. Energy Development Corporation), and Greg Genovese (USG Realty Capital) were the expert panelists. The panel was moderated by Jimmy Atkinson (OpportunityDb). Transcript and show notes at OpportunityDb.com
Puerto Rico is in dire need of redevelopment. How can Opportunity Zones and other tax incentives help to create a more resilient Puerto Rico? Jose Torres is managing partner and founder of Monllor Capital Partners and the Puerto Rico Opportunity Zone (PROZ) Fund. Transcript and show notes at OpportunityDb.com
Why might an investor consider an Opportunity Zone hotel investment on the Las Vegas Strip? Bill Shopoff is president and CEO of Shopoff Realty Investments, a national, multi-disciplinary real estate investment firm founded in 1992. Transcript and show notes at OpportunityDb.com
Who is the prototypical direct retail Opportunity Zone investor? Erik Hayden is founder and CEO of Urban Catalyst, the largest developer of Opportunity Zone real estate in Silicon Valley. Transcript and show notes at OpportunityDb.com
How can the Opportunity Zone incentive be applied to energy investments in the oil and gas sector? Matthew Iak is executive vice president of U.S. Energy Development Corporation and has overseen the capital raise of $1.5 billion since 2005. Transcript and show notes at OpportunityDb.com
Why is Opportunity Zone deal flow increasing, and by how much? Chris Loeffler is co-founder and CEO of Caliber, an asset management and real estate services firm headquartered in Scottsdale, Arizona. Caliber Funds is currently offering a $500 million mixed-asset Qualified Opportunity Fund geographically focused in the greater southwest region of the United States. Transcript and show notes on OpportunityDb.com
Terrica Lynn Smith grew up broke and homeless on the streets of New Orleans. But now, she is developing new affordable housing in an OZ in Lafayette, Louisiana. Terrica is managing partner of SALT Capital Equity Group, real estate developer of Madeline Cove, a housing development located in an Opportunity Zone on the north side of Lafayette, Louisiana. Transcript and show notes at OpportunityDb.com
Tax rates could be on the rise under the Biden administration. What impact would a huge capital gains tax increase have on the Opportunity Zone marketplace? Alex Bhathal is co-owner of the Sacramento Kings and managing partner at RevOZ Capital, a large Opportunity Zone developer headquartered in Newport Beach, California. Transcript and show notes on OpportunityDb.com
Panama City, Florida suffered massive damage from Hurricane Michael in 2018. How is the city using Opportunity Zones to rebuild? Mark McQueen is a former two-star general of the U.S. Army and current city manager for the City of Panama City. Transcript and show notes at OpportunityDb.com
What should an investor consider before investing in a Qualified Opportunity Fund? Several Opportunity Zone experts provided their insights on a live panel recorded on March 9, 2021 during OZ Pitch Day, titled "How to Invest in Opportunity Zones." Today's podcast episode is the audio version of that panel. Moderated by OpportunityDb founder Jimmy Atkinson, the panel featured Greg Genovese of USG Realty Capital, Dave Kunz of Hall Venture Partners, Clark Spencer of Grubb Properties, Will Walker of Hall Labs, and Dana Woodbury of Buttonwood Due Diligence. Transcript and show notes at OpportunityDb.com
Jackson Dearborn Partners is on their eighth Opportunity Zone deal in less than three years. What were some of the biggest challenges that they've faced and biggest lessons learned during their first seven OZ deals? Ryan Tobias is partner and co-founder of JDP and has worked on over $1 billion of real estate transactions. Transcript and show notes at OpportunityDb.com
How is a former NBA player leveraging Opportunity Zones to create impactful change? Josh Childress is CEO of LandSpire Group and a member of the RevOZ Capital Social Impact Council. RevOZ Capital earlier this year launched a new social impact initiative with a commitment to invest $1 billion in Opportunity Zone projects over the next three years. Transcript and show notes at OpportunityDb.com
What can Opportunity Zone investors expect from post-COVID market conditions? And how have Qualified Opportunity Funds evolved since program inception? Greg Genovese is CEO of USG Realty Capital and Investors Choice OZ Fund, a new Qualified Opportunity Fund offered by USG/OZI. Show notes and transcript at OpportunityDb.com
With Joe Biden in the White House, how might Opportunity Zone policy evolve over the coming years? Steve Glickman recently joined me during a fireside chat at OZ Pitch Day to discuss this topic and more. Steve is founder and CEO of Develop Advisors, a consulting firm for Qualified Opportunity Funds. He previously co-founded the Economic Innovation Group. Show notes and transcript at OpportunityDb.com
Why are shovel-ready projects so crucial to a multi-asset Qualified Opportunity Fund strategy? And how can a fund be structured in order to allow investment from self-directed QOFs at the project level? Jon White is president and managing director at Larson Capital, a real estate-focused private equity firm headquartered in St. Louis. Transcript and show notes at OpportunityDb.com
Can an online membership platform bring different Opportunity Zone stakeholders together and help make the OZ initiative a bigger success? Chris Cooley is director and lead connector at OZworks Group. He has extensive experience consulting in the collaborative workspace industry, both nationally and internationally. Show notes and transcript on OpportunityDb.com
What are the three different classes of investors that are the most likely capital sources for Opportunity Zone funds or deals? And what are some tips for approaching and pitching to them? Dave Kunz is managing partner and general manager of Hall Venture Partners. Will Walker is a private equity veteran and advisor to Hall Labs and HVP. Transcript and show notes at OpportunityDb.com
What are some of the factors that may make Puerto Rico a compelling destination for Opportunity Zone investment, particularly in a post-COVID world? Eric Berman is chief investment officer and Adrian Beales is director of sales at Lifeafar Capital, a boutique private equity real estate firm with two OZ projects in Puerto Rico. Transcript and show notes available at OpportunityDb.com
How has the Opportunity Zone marketplace evolved over the past 2+ years and how will it continue to evolve going forward? Peter Truog is founder of The Opportunity Exchange, a marketplace that connects impactful Opportunity Zone projects to capital sources. The Opportunity Exchange is a key partner in OZ Pitch Day. Transcript and show notes at OpportunityDb.com
After raising over $200 million for Qualified Opportunity Zone investment, how is one OZ fund creating impact with essential housing? Clark Spencer is senior vice president at Grubb Properties, a vertically integrated real estate operating company founded in 1963. Transcript and show notes available at OpportunityDb.com
If you’re an investor with capital gains, how can you find your Opportunity Zone investment and get invested before the newly extended deadline of March 31, 2021? OpportunityDb's OZ Pitch Day 2021 online event is coming to help. OZ Pitch Day 2021 will take place on Tuesday, March 9, 2021 and will feature educational content and pitches from roughly one dozen Qualified Opportunity Funds. Visit OZPitchDay.com to learn more and register today.
How can five different groups of Opportunity Zone stakeholders come together to make the program a success? And what can we expect the Biden administration to do with Opportunity Zones? Steve Glickman is founder and CEO of Develop LLC, an Opportunity Zones advisory firm, and was previously co-founder and CEO of the Economic Innovation Group. Ira Weinstein is managing principal and Opportunity Zones practice leader at CohnReznick, a professional services firm. Transcript and show notes on OpportunityDb.com
Why is 2021 expected to be a big year for Opportunity Zones and what are some of the key deadlines that investors and fund issuers should be aware of? Ashley Tison is an Opportunity Zone consultant and attorney based in Charlotte, North Carolina. Along with Jimmy Atkinson, he is co-founder of OZ Pros, an Opportunity Zone advisory firm. Transcript and show notes available at OpportunityDb.com
What are some of the best ways to find Opportunity Zone investors in 2021? Jeffrey Maganis is co-founder of Crowdcreate, a digital marketing company that focuses on investor outreach for private equity funds. Will Walker is Crowdcreate's director of business development. Transcript and show notes at OpportunityDb.com
What does it take to be a shrewd Opportunity Zone investor? Several Opportunity Zone experts provided their insights on a live panel recorded on November 17, 2020 during OZ Pitch Day, titled "Being a Shrewd Opportunity Zone Investor." Today's podcast episode is the audio version of that panel. Moderated by OpportunityDb founder Jimmy Atkinson, the panel featured Dave Kunz of Hall Venture Partners, Rocco Forino of DealConnectHub, Jeffrey Maganis of Crowdcreate, Chris Cooley of OZworks Group, and Gerry Reihsen of Coasis Coalition. Transcript and show notes on OpportunityDb.com
Why should investors consider workforce housing as a stable Opportunity Zone investment strategy? Riaz Taplin is principal and founder of Riaz Capital, an Oakland-based developer and operator of workforce housing specifically focusing on how to address the changing housing need of the millennial generation. Show notes and transcript on OpportunityDb.com
With just a few weeks left in the year, what are some last-minute strategies and options to keep in mind for Opportunity Zone investors? Ashley Tison is an Opportunity Zone consultant and attorney based in Charlotte, North Carolina. Along with Jimmy Atkinson, he is co-founder of OZ Pros, an Opportunity Zone advisory firm. Transcript and show notes on OpportunityDb.com
With a new President taking office next month, what does the future hold for Opportunity Zones? And what policy reforms under a Biden-Harris administration would improve the policy such that it more closely adheres to legislative intent? Rachel Reilly is former director of impact strategy at Economic Innovation Group, a bipartisan public policy organization that helped to create the Opportunity Zone legislation. Transcript and show notes at OpportunityDb.com
What are the biggest questions you should ask before investing in an Opportunity Zone fund? With many investors facing a year-end deadline for rolling over their capital gains into an Opportunity Zone investment, know which questions to ask any fund manager before writing that big check. Transcript and show notes on OpportunityDb.com
What are the biggest questions on the minds of Opportunity Zone investors? And what have been some of the most surprising real estate market outcomes from the coronavirus pandemic? Pete LaMassa is Opportunity Zone deal captain and managing director at Bridge Investment Group, a vertically integrated real estate private equity firm with a $1 billion Opportunity Zone strategy. Transcript and show notes at OpportunityDb.com
What impact will the 2020 election have on the Opportunity Zones incentive? Expect major changes if Joe Biden is elected, and potential expansion of the program if Donald Trump wins reelection. The balance of power in the Senate should have an impact as well. Mike Novogradac is the managing partner of Novogradac, a top 50 accounting firm founded in 1989. John Sciarretti is chair of the Novogradac Opportunity Zones conferences and leader of the Novogradac Opportunity Zones Working Group. Transcript and show notes at OpportunityDb.com
How can a regional economic development planning commission help their communities leverage their Opportunity Zone designations? Invest Acadiana serves as a perfect example. Chad LaComb is the economic development planner for the Acadiana Planning Commission. Transcript and show notes at OpportunityDb.com
Can university research parks, incubators, and accelerators catalyze innovation in Opportunity Zones? Brian Darmody is CEO of the Association of University Research Parks (AURP). Many of AURP's member institutions are located in Opportunity Zones. Transcript and show notes at OpportunityDb.com
If you’re an investor with capital gains, how can you find your Opportunity Zone investment and get invested before the end of this year? Today I’m officially launching the OpportunityDb OZ Pitch Day 2020 Online Event. OZ Pitch Day will take place on Tuesday, November 17, 2020 and will feature roughly one dozen Qualified Opportunity Funds. Transcript and show notes at OpportunityDb.com
What securities laws should Qualified Opportunity Fund issuers be aware of before they start raising capital from investors? And what are the major differences between the different types of private placement offerings? Clem Turner is a New York-based corporate and securities attorney for CSG and leads the firm's alternative capital practice. Transcript and show notes at OpportunityDb.com
As we approach the fourth quarter of 2020, what are some of the most important timing considerations for Opportunity Zone investors and Qualified Opportunity Fund issuers? Ashley Tison is an Opportunity Zone consultant and attorney based in Charlotte, North Carolina. Along with Jimmy Atkinson, he is co-founder of OZ Pros, an Opportunity Zone advisory firm. Transcript and show notes available at OpportunityDb.com
What are the strategic advantages to investing in early growth, patent-protected technology companies located in Opportunity Zones? Matt Van Dyke and David Kunz are managing partners at Hall Labs, a Provo, UT-based family office and tech accelerator located in an Opportunity Zone. Transcript and show notes available at OpportunityDb.com
Does the Silicon Valley tech migration create a unique investment case for ground-up development in fast-growing downtown San Jose's Opportunity Zones? Erik Hayden is founder and managing partner at Urban Catalyst, a Silicon Valley-based real estate developer and Opportunity Zone fund manager. Transcript and show notes at OpportunityDb.com
What are some challenges that smaller Opportunity Zone project developers face? And are there benefits to investing in a smaller OZ fund? Garth Everhart is president of The Everhart Company and the developer and promoter of the Ceeley Opportunity Fund, a small, single-asset, project-specific fund located in greater Portland, Oregon. Transcript and show notes at OpportunityDb.com
Why are Opportunity Zones more important now than ever before, and what legislative changes are being considered to improve the impact of the policy initiative? Emily Lavery is a legislative analyst for Senator Tim Scott (R-SC), one of the original co-sponsors of the Opportunity Zones legislation. Transcript and show notes at OpportunityDb.com
Do Opportunity Zones have the potential to create a more optimistic and hopeful outlook, and to help build national recovery and resilience in the wake of the COVID-19 pandemic and economic crisis? On August 5, a live national webinar briefing was hosted by OZ Accelerator, ASTRA, and OpportunityDb. The webinar featured Senator Tim Scott (R-SC), plus expert panelists from Senator Scott's office, Urban Institute, Sorenson Impact Foundation, Emsi, EIG, and SBA. Show notes and transcript at OpportunityDb.com
What are some of the economic advantages of rural multi-asset multifamily and outdoor-focused hospitality Opportunity Zone fund investing? Chris Montgomery and Stephanie Copeland are partners at Four Points Funding, who earlier this year was awarded the Forbes OZ 20 Grand Prize for Top Rural Opportunity Zone Fund Catalyst. Transcript and show notes at OpportunityDb.com
In its early days, how effective has the Opportunity Zone incentive been for equitable development projects? Brett Theodos is senior fellow at the Urban Institute, where he recently co-authored a research report titled, "An Early Assessment of Opportunity Zones for Equitable Development Projects." Transcript and show notes at OpportunityDb.com
What were the biggest highlights from last week's Novogradac Opportunity Zones Virtual Conference? Mike Novogradac is the managing partner of Novogradac, a top 50 accounting firm founded in 1989. John Sciarretti is chair of the Novogradac Opportunity Zones conferences and leader of the Novogradac Opportunity Zones Working Group. Transcript and show notes at OpportunityDb.com
What is conscious capitalism and how can choosing to adhere to this concept create positive social impact in Opportunity Zones? Travis Steffens is founder and CEO of Denver-based R Investments, a real estate firm focused on full cycle wealth generation through planning, development, construction, rehabilitation, leasing, property management, and brokerage. Transcript and show notes at OpportunityDb.com
How can built-to-own single family rentals be incorporated into an Opportunity Zone investment portfolio? Jeff Pintar is founder and CEO of Pintar Investment Company, a real estate development firm headquartered in San Juan Capistrano, California. Transcript and show notes at OpportunityDb.com
Could mobile home parks be the perfect (recession-resistant) Opportunity Zone investment? Sam Hales is CEO of Saratoga Group, a real estate investment firm focused on investing in affordable housing, specifically through mobile home communities located in Opportunity Zones. On May 27, he presented his MHP investment thesis to the OpportunityDb network. Transcript and show notes at OpportunityDb.com
Opportunity Zones may just be the perfect vehicle to deliver economic relief to the areas hardest hit by the coronavirus pandemic. How can the incentive be expanded to further catalyze the recovery effort? Blake Christian is a tax CPA for Holthouse Carlin & Van Trigt (HCVT), a regional accounting firm with offices across the western United States. Transcript and show notes at OpportunityDb.com
What is the state of Opportunity Zones from the perspective of the White House Opportunity and Revitalization Council, now one year into its mission? Scott Turner is executive director of the Council -- a collaboration of 17 Federal agencies and Federal-State partnerships with a mandate to identify and disseminate best practices for utilizing the Opportunity Zones tax incentive and existing Federal resources to stimulate economic growth and revitalization. Transcript and show notes at OpportunityDb.com
Last year, the Opportunity Zone Expo hosted six live, in-person events. But due to the ongoing coronavirus pandemic, their 2020 conference will be entirely online. Learn how you can still benefit from attending, who you will meet, and how you can save 20 percent on last-minute tickets. Rich Zhang is brand manager for the Opportunity Zone Expo. Transcript and show notes at OpportunityDb.com
On June 4, the IRS issued a new notice that provides a lot of additional coronavirus relief for Opportunity Zone investors and Opportunity Zone funds. Will this relief pose short-term challenges for Opportunity Zone capital raising? And might it cause a tsunami wave of investment toward the end of this year? Transcript and show notes at OpportunityDb.com
During this current economic crisis that has resulted from our response to COVID-19, how can Opportunity Zone funds serve as alternatives for 1031 exchange investors? Erik Hayden is founder of Urban Catalyst, a San Jose-based real estate Opportunity Zone fund focused on ground-up development. Transcript and show notes at OpportunityDb.com
What Opportunity Zone fundraising trends can be gleaned after raising $465 million? And what's next for Opportunity Zones in the midst of the coronavirus pandemic? Nick Parrish is managing director and head of business development at Cresset Partners, a multifamily office that specializes in alternative investments in real estate, private capital, and Opportunity Zones. Their first QOZ fund closed earlier this year after raising $465 million. Transcript and show notes at OpportunityDb.com
In April, the IRS published correcting amendments to the final regulations on Qualified Opportunity Funds. What are the key changes that Opportunity Zone participants need to be aware of? Jessica Millett is partner and chair of Duval & Stachenfeld's tax practice group. Ashley Tison is co-founder at OZ Pros. Transcript and show notes at OpportunityDb.com
The Sacramento Kings ownership group successfully spearheaded downtown Sacramento's revitalization, which by the end of 2018 had resulted in a hugely positive community impact and a downtown job increase of 38 percent. Now can they leverage the Opportunity Zone incentive to replicate this success in similar markets across the country? Alex Bhathal and his family are principal co-owners of the Sacramento Kings NBA franchise and managing partner of RevOZ Capital, an Opportunity Zone fund that focuses on urban core development. Transcript and show notes at OpportunityDb.com
Are you ready to attract investors for your Opportunity Zone deals? Learn how to form an Opportunity Zone fund and raise capital for your OZ deals. Receive valuable information on legal structuring, compiling a pitchbook, and crafting the perfect pitch email. This episode is a condensed version of the audio portion of the webinar, which includes the presentations by Jimmy Atkinson & Ashley Tison (OZ Pros) and Jeffrey Maganis (Crowdcreate), as well as a selection of the Q&A portion. Visit OZPros.com/webinar for the complete video version and slide decks.
Why is social impact crucial to the long-term success of the Opportunity Zone initiative? Hear from the top urban Opportunity Zone fund, as awarded by the Forbes OZ 20, and the positive story of the impact that they are delivering in South Central Los Angeles. Martin Muoto is founder and managing partner of SoLa Impact, a $115 million Opportunity Zone real estate impact investment fund located in South Los Angeles, and recent winner of the Forbes OZ 20 Grand Prize for best urban Opportunity Zone fund. Reid Thomas is executive vice president and general manager of NES Financial's specialty fund administration technology platform. Transcript and show notes on OpportunityDb.com
How has the Opportunity Zone marketplace matured over the past 12 months? What has the investor response been? And is the current pandemic-instigated economic downturn threatening to change everything? Jill Homan is founder and president of Javelin 19 Investments, a Washington DC-based commercial real estate investor, developer, and Opportunity Zones advisor. Transcript and show notes on OpportunityDb.com
What insights can be gleaned from the newest book on Opportunity Zone investing? Jim White, PhD is chairman and CEO of Post Harvest Technologies and founder of the PHT Opportunity Fund. He is also a best-selling author; his latest book is Opportunity Investing: How To Revitalize Urban And Rural Communities With Opportunity Funds. Transcript and show notes on OpportunityDb.com
How are Opportunity Zone funds responding to the ongoing coronavirus pandemic? Find out why one Opportunity Zone fund walked away from $500 million worth of real estate deals last month. And could the current economic climate present some unique opportunities for investors? Chris Loeffler is co-founder and CEO of Caliber, a private equity real estate investment firm whose Opportunity Zone fund has thus far raised $70 million. Transcript and show notes on OpportunityDb.com
How can investors, financial institutions, and other local stakeholders leverage the Opportunity Zone incentive to improve community development results? Jeanne Bonds is a professor of the Practice of Impact Investment and Sustainable Finance at UNC's Kenan-Flagler Business School in Chapel Hill. She was formerly director of community economic development for the Federal Reserve Bank of Richmond. Show notes and transcript on OpportunityDb.com
Congress has passed three phases of coronavirus relief packages, with a fourth potentially on the way soon. How can Opportunity Zone businesses seek relief? And how can Opportunity Zones assist with economic recovery? OZ Pros hosted a Zoom meeting with 80 of the most engaged Opportunity Zones participants in our network. The Zoom meeting included presentations from Ashley Tison (OZ Pros), Howard Matalon (OlenderFeldman), and Reid Thomas (NES Financial). Show notes and transcript on OpportunityDb.com
What is an OZ fund on Colorado's western slope doing to spark catalytic impact and serve the long-term needs of rural communities? Chris Montgomery is partner at Four Points Funding, whose Opportunity Zone fund was recently awarded the Grand Prize as the Forbes OZ 20's Top Rural Opportunity Zone Fund Catalyst by Forbes and the Sorenson Impact Foundation. Show notes and transcript on OpportunityDb.com
How will the ongoing coronavirus pandemic affect financial markets and Opportunity Zones? Craig Bernstein is principal of OPZ Capital, which launched the OPZ Capital Opportunity Zone Fund in 2018. Craig has over 20 years of real estate experience, and is a prominent thought leader in the Opportunity Zones industry. Show notes and transcript on OpportunityDb.com
What is the capital raising and investment portfolio strategy for the first Opportunity Zone Fund to deploy capital to business ventures? Len Mills is CEO of Verte OZ, a venture capital Opportunity Zone fund launched in September 2019 that invests in high-growth disruptive businesses. Natalie Elder is Verte's head of investor relations. Show notes and transcript on OpportunityDb.com
What are the biggest Opportunity Zone lessons we've discovered and Qualified Opportunity Fund best practices we've formed after our first 100 Opportunity Strategy Calls at OZ Pros? And how can they apply to you? Opportunity Zones Podcast host Jimmy Atkinson and OZ Consultants CEO Ashley Tison are co-founders of OZ Pros -- Qualified Opportunity Fund and Qualified Opportunity Zone Business entity formation made easy. Show notes and transcript on OpportunityDb.com
What Opportunity Zones regulatory issues does the Novogradac Working Group address in their recent comment letter to the IRS? And what can you expect at the upcoming Novogradac OZ conference? John Sciarretti is a partner at Novogradac, a top 50 accounting firm and national thought leader in the Opportunity Zone industry. Show notes and transcript at OpportunityDb.com
What level of transparency does your Opportunity Zone fund provide? Is it verified by a third-party fund custodian? Jeremy Christensen is director of fund custody at Millennium Trust Company. Show notes and transcript at OpportunityDb.com
How can real estate technology, or property technology, benefit Opportunity Zone marketplace participants? Steve Nson is founder of AnySizeDeals, a matchmaking platform for real estate investors that also organizes live events. Their upcoming AnySizeDeals Week event will focus on how real estate interacts with AI and robotics, innovation, Opportunity Zones, and blockchain. Transcript and show notes on OpportunityDb.com
What are students learning in the nation's first LLM-level tax course on Opportunity Zones? Joseph "Jay" Darby is a partner in Sullivan & Worcester's tax group in Boston and has been a member of the adjunct faculty at Boston University School of Law since 2003. This semester, he is teaching an LLM course at BU Law titled, "No Gain No Pain? Opportunity Zones, Like Kind Exchanges and QSBS Strategies." Show notes and transcript on OpportunityDb.com
How does impact investing pioneer Jim Sorenson invest for impact in Opportunity Zones? Can Catalyst Opportunity Funds serve as both a counterexample to the wave of negative OZ publicity and a model for OZ fund investing? Impact investing pioneer Jim Sorenson and tech entrepreneur Patrick McKenna are co-founders of Catalyst. Jim is also founder of the Sorenson Impact Foundation, and funding partner at the University of Utah's Sorenson Impact Center. Show notes and transcript at OpportunityDb.com
Why might indoor vertical farming be ideally suited for Opportunity Zones? Zale Tabakman is founder and president of Baltimore-based Local Grown Salads, an indoor vertical farming company that has its own Opportunity Zone fund. Show notes and transcript on OpportunityDb.com
What are the five most impactful changes in the final IRS regulations on Opportunity Zones? And what’s the true story behind the Opportunity Zone designation in Storey County, NV? Daniel Kowalski is counselor to Treasury Secretary Steven Mnuchin and led the Treasury Department’s efforts in issuing regulations on Qualified Opportunity Funds. Show notes and transcript on OpportunityDb.com
What types of foreign investors may be ideal candidates for Opportunity Zone investing? And is there an opportunity for OZ fund sponsors to raise capital overseas? Stephen Christiano is an associate tax director of Frank Hirth's business tax group, specializing in U.S. business taxation and Opportunity Zones. Show notes and transcript on OpportunityDb.com
What is a Community Development Financial Institution, or CDFI? And how can Opportunity Zone fund sponsors, real estate developers, and QOZB business owners leverage their local CDFIs as a capital raising resource? Ruben Alonso is president of AltCap, a CDFI headquartered in Kansas City. Emily Lecuyer is managing director of Equity Squared, a subsidiary of AltCap. Show notes and transcript on OpportunityDb.com
Final regulations on Opportunity Zones have been issued by the IRS. What are the most meaningful changes and additions to be aware of? Tony Nitti is an Aspen-based real estate tax law expert, CPA, and tax services partner at RubinBrown. He serves on the editorial advisory board for The Tax Adviser. He’s also a regular contributor at Forbes.com, where his latest article breaks down Opportunity Zones law and regulations. Show notes and transcript on OpportunityDb.com
Does the climate change mitigation industry pose a huge OZ business opportunity? Jack Sullivan is founder and CEO of RedCarbon, a Qualified Opportunity Zone Business that focuses on carbon sequestration technologies and processes. Transcript and show notes at OpportunityDb.com
How did Origin Investments line up over $100 million for their Opportunity Zone fund in less than 24 hours? And what are some of the biggest challenges and complexities of managing an OZ fund? Michael Episcope is co-founder and principal of Origin Investments, a private equity real estate firm founded in 2007. Show notes and transcript at OpportunityDb.com
Are Opportunity Zone funds living up to the spirit and intent of the initiative? And how should social impact reporting be conducted? Greg Genovese is president of Sound West Realty Capital, a real estate development group based in the Seattle area. Steve Sego is president of the Waterman Group, a community redevelopment, investment, and mitigation company. Show notes and transcript on OpportunityDb.com
How can different real estate tax credits (New Markets, Low Income Housing, Renewable Energy, and Historic) be paired with the Opportunity Zones tax incentive? This is Part 2 of my two-part conversation with Michael Novogradac. Michael Novogradac is managing partner of Novogradac, a top 50 accounting firm and thought leader in the Opportunity Zone industry. Show notes and transcript on OpportunityDb.com
Are Opportunity Zone funds having success raising enough capital? Will capital raising reach federal government estimates? Find out why one prominent tax accountant thinks so. This is Part 1 of my two-part conversation with Michael Novogradac. Michael Novogradac is managing partner of Novogradac, a top 50 accounting firm and thought leader in the Opportunity Zone industry. Show notes and transcript on OpportunityDb.com
What are some of the biggest misconceptions and inconsistencies surrounding the Opportunity Zone tax incentive? Bob Richardson is managing partner of Blue Cardinal Capital, a real estate private equity firm with Opportunity Zone projects in upstate New York. Show notes and transcript at OpportunityDb.com
Can an Opportunity Zone marketplace connect communities, OZ project sponsors, and investors to advance capital deployment and community impact? Peter Truog is founder of The Opportunity Exchange — a marketplace that connects impactful Opportunity Zone projects to capital sources. Also joining today’s podcast episode from The Opportunity Exchange are Leo Peña and Ayat Amin. Show notes and transcript on OpportunityDb.com
For business owners, what are some tips for approaching investors and raising Opportunity Zone capital? Len Mills is CEO of Verte OZ, a venture capital Opportunity Zone fund launched in September 2019 that invests in high-growth disruptive businesses. Show notes and transcript at OpportunityDb.com
Are you considering starting your own Qualified Opportunity Zone Business or converting an existing business into a QOZB? Or perhaps you need a QOZB for your Qualified Opportunity Fund? This episode is for you. What are the most important considerations when structuring your entity, and what are some best practices for regulatory compliance? Opportunity Zones Podcast host Jimmy Atkinson and OZ Consultants CEO Ashley Tison have teamed up to create OZ Pros -- Qualified Opportunity Fund and Qualified Opportunity Zone Business entity formation made easy. Transcript and show notes on OpportunityDb.com
How can you form your own Opportunity Zone fund? What are the most important considerations when structuring your entity, and what are some best practices for regulatory compliance? Opportunity Zones Podcast host Jimmy Atkinson and OZ Consultants CEO Ashley Tison have teamed up to create OZ Pros, a document generation tool for quick and easy OZ fund and OZ business formation. Show notes and transcript on OpportunityDb.com
Philanthropic capital will be crucial to achieving large-scale success in Opportunity Zones nationwide. So why has the philanthropic community's response been tepid thus far? John Lettieri is co-founder, president, and CEO of the Economic Innovation Group (EIG), a Washington DC-based policy group that helped create the Opportunity Zone tax policy. Show notes and transcript at OpportunityDb.com
How can Opportunity Zones ignite a place-based economic development revolution in one of the nation's poorest states? Alex Flachsbart is president and CEO of Opportunity Alabama, the nation's first nonprofit organization to create a marketplace for Opportunity Zone investment in a particular state. Show notes and transcript at OpportunityDb.com
It's been nearly six months since the IRS issued its second tranche of regulatory guidance on Qualified Opportunity Funds. How are business Opportunity Zone funds proceeding? Brian Phillips is managing partner of The Pearl Fund, the first Opportunity Zone fund to focus exclusively on business, using a venture capital model. Show notes and transcript on OpportunityDb.com
Erie, Pennsylvania is home to the nation's poorest ZIP code, and the nation's first organization dedicated to promoting a municipality's Opportunity Zones. Erie Downtown Development Corporation is led by CEO John Persinger and VP for finance and development Matt Wachter. Show notes and transcript on OpportunityDb.com
You've got Opportunity Zone questions. We've got Opportunity Zone answers. This is the inaugural edition of Opportunity Zones Podcast Listener Questions. Today's listener questions deal with options for existing Opportunity Zone property owners, incentives for Opportunity Zone businesses, and more. If you'd like to submit your own question or comment, leave a voicemail on the Opportunity Zones Podcast hotline. -- call (682) 800-1505. Show notes and transcript on OpportunityDb.com
What are some best practices for packaging an Opportunity Zone real estate deal and raising capital from investors? What are some examples of good deals and bad deals? Gabriel Fernandez is a real estate investment manager in Brooklyn, NY. Show notes and transcript on OpportunityDb.com
Is there a big problem with the Opportunity Zones program? Thomas Morgan is a real estate developer, broker, and investor who specializes in impact investing and 1031 exchange strategies. On today's episode, we discuss the recent New York Times article and the challenges of raising Opportunity Zone capital for projects in blighted locations. Show notes and transcript on OpportunityDb.com
Is the development of owner occupied housing on a massive scale achievable in blighted Opportunity Zone neighborhoods? First, you have to shock the system. Daniel Edwards and Ebony Edwards are founders of Kansas City-based Opportunity Zone development firm NeighborBuilt. Show notes and transcript on OpportunityDb.com
How can real estate and a unique entertainment product combine into a Qualified Opportunity Zone Business to deliver long-lasting social impact and job creation? Todd Perlmutter is CEO of Hotbed Entertainment Group. He previously spent 19 years at Blue Man Group as senior music director. Seth Dunlap is HEG's real estate and portfolio manager. Show notes and transcript on OpportunityDb
How can agribusiness capitalize on the Opportunity Zones program? Chris Rawley is founder and CEO of Fort Worth, TX-based Harvest Returns, an investment firm that facilitates capital raises for small- to medium-sized farmers. They launched the Sustainable Agriculture Opportunity Zone Fund earlier this summer. Show notes and transcript on OpportunityDb.com
Can Opportunity Zones be leveraged for biorefinery development and renewable fuel production? Nick Andrews is founder and CEO of Scottsdale, AZ-based USA BioEnergy, a multi-disciplinary company with experience in real estate development and renewable diesel biofuel production. Transcript and show notes at OpportunityDb.com
What are some of the most important tax accounting considerations when forming an Opportunity Zone Fund? Valerie Grunduski is a real estate tax accounting specialist and leads Plante Moran's Opportunity Zones practice. Show notes and transcript on OpportunityDb.com
What are the different layers of fees that Opportunity Zone investors should be aware of? And how much can investors expect to pay in fees to Qualified Opportunity Funds? Jonathan Miller is president and CEO of Parsonex Enterprises, a financial services firm, SEC registered investment adviser, and advisory group and asset manager that manages alternative assets in real estate, including in Opportunity Zones. Show notes and transcript on OpportunityDb.com
Much of rural America has been left behind in the economic recovery that has transpired since the Great Recession. Can Opportunity Zone investing reverse that trend? The Emerald Coast Opportunity Zone in northwest Washington state is a unique group of rural municipalities and tribal nations that has collaborated on producing a portfolio of rural Opportunity Zone projects with scale. What have been some of their biggest challenges so far? Show notes and transcript at OpportunityDb.com
Can Opportunity Zones address the nation's housing crisis? Taylor Lembi is founder and CEO at San Francisco-based real estate developer M31 Capital. Their Morpheus 1 Qualified Opportunity Zone Fund, launched earlier this year, invests in multi-family housing redevelopments in the Bay Area. Show notes and transcript at OpportunityDb.com
Are colleges and universities an untapped resource for Opportunity Zone development? Plus, what can we expect to learn from the census tract level sales transaction data that the Mastercard Center for Inclusive Growth is releasing later this month? Anu Varadharajan is a tax professor at Tulane University. Dr. Michelle Thompson is a planning and urban studies professor at the University of New Orleans and data fellow at the Mastercard Center for Inclusive Growth. Show notes and transcript at OpportunityDb.com
On Tuesday, July 9, the IRS held a public hearing on Qualified Opportunity Funds. Who spoke at the hearing and what are some of the biggest issues that the IRS needs to clarify? Full recap available at OpportunityDb.com
Full audio recording of the July 9 IRS public hearing on proposed regulations: "Investing in Qualified Opportunity Funds" [REG-120186-18]. Recorded live on site at the IRS New Carrollton Federal Building Auditorium on July 9, 2019, beginning at 10:00 a.m. EDT. Timestamps and recap at OpportunityDb.com/hearing
What are some strategies for maximizing Opportunity Zone investment returns? What should investors be aware of and what pitfalls should they avoid? Kevin Shields is founder, chairman, and CEO of Griffin Capital, an alternative investment firm with over $17 billion in assets under management. Show notes and transcript on OpportunityDb.com
It's been one year since Virtua Partners launched the very first Qualified Opportunity Fund. Since then, they have raised $100 million, roughly half of which has already been deployed; they've broken ground on numerous projects, and have a pipeline of about 100 more. Quinn Palomino is principal at Virtua Partners, a global private equity firm that specializes in commercial real estate, and manager of four Opportunity Zone funds. Show notes and transcript on OpportunityDb.com
Should Qualified Opportunity Funds best practices include third-party administration? And what are some Opportunity Zone trends being noticed by the industry's largest service provider? Reid Thomas is executive vice president and general manager of NES Financial, a Silicon Valley-based fintech company that provides a purpose-built administration solution for Qualified Opportunity Funds. Show notes and transcript on OpportunityDb.com
What is the biggest problem in the Opportunity Zone space today? And why is there pushback from potential investors with capital gains? Justin Wolk is a capital advisor for StackSource, a New York City-based real estate technology company that connects commercial real estate developers with lenders. Show notes and transcript on OpportunityDb.com
What are some of the most important legal considerations when forming an Opportunity Zone Fund? What are some of the pros and cons of corporation, partnership, REIT, and synthetic fund structures? Jessica Millett is partner, chair, and "Wizard of OZ" of the tax practice group at Duval & Stachenfeld, a real estate law firm headquartered in New York City. Show notes and transcript on OpportunityDb.com
The second tranche of regulations that were published two months ago clarified many questions regarding opportunity zone businesses. What are some strategies for operating business investment that OZ funds should consider? M&A attorney Ashley Tison is founder and CEO of the Charlotte, NC-based Ōz group of companies (pronounced OHz). Ōz is an opportunity zone consulting group and manager of a qualified opportunity fund that invests in operating business. Show notes and transcript on OpportunityDb.com
Why does a trade association for Qualified Opportunity Funds want more data collection and reporting? And could the Opportunity Zone program be renewed at some point in the future? Senator Tim Scott's former tax adviser, Shay Hawkins is founder and president of the Opportunity Funds Association (OFA) -- a Washington, DC-based advocacy, education, and communications group for the Qualified Opportunity Fund industry. Show notes and transcript on OpportunityDb.com
How can incubating local businesses in shipping containers achieve Opportunity Zone community activation and gentrification without displacement? Sasha Favelukis is founder of CoPlace, a San Diego-based investment and advisory firm that specializes in community activation. Show notes and transcript on OpportunityDb.com
Will office real estate be the driver for much of the economic growth across the nation's Opportunity Zones? Clint Myers is partner at Revolution's Rise of the Rest, a seed fund that invests in startups located outside of locations that traditionally receive startup funding -- an approach that has a lot of overlap with the Opportunity Zones policy. Show notes and transcript on OpportunityDb.com
Are Opportunity Zone Funds actually raising any money yet? Chris Loeffler is co-founder and CEO of Caliber, an Arizona-based alternatives investment management firm that was among the first to launch a Qualified Opportunity Fund last year, a fund which has already raised $40 million, is actively deploying capital to Opportunity Zones, and is expected to hit their $500 million raise target within two years. Show notes and transcript on OpportunityDb.com
How can the resources of the Federal government be leveraged to help deliver generational impact to Opportunity Zone communities? Scott Turner is the newly appointed executive director of the White House Opportunity and Revitalization Council -- a group of cabinet members and White House officials charged with coordinating Federal agency efforts to magnify the impact of investments in Opportunity Zones. Show notes and transcript at OpportunityDb.com
How was the Opportunity Zones initiative created in the first place? And why is this program so radically different from previous place-based policies? John Lettieri is co-founder and president of the Economic Innovation Group, a Washington, DC-based public policy organization that created the Opportunity Zones legislation and continues to inform the rulemaking process. Show notes and transcript on OpportunityDb.com
How can retail investors access alternative investments typically reserved for institutional investors? And where do Opportunity Zones fit into the universe of portfolio alternatives? Washington, DC-based Tony Chereso is president and CEO of the Institute for Portfolio Alternatives, a trade group tasked with advocating for awareness of portfolio diversifying investments (PDIs). Show notes and transcript on OpportunityDb.com
Part 2 of 2 with Lennox Jackson: Which neighborhoods on Chicago’s West and South Sides have the greatest levels of redevelopment need? Chicago is home to 133 opportunity zones. But which neighborhoods on Chicago’s West and South Sides have the greatest levels of redevelopment need? And what are some of the challenges of acquiring capital for building in low-income communities? Lennox Jackson is founder and CEO of Urban Equities, a Chicago-based real estate developer and advisor that specializes in residential, retail, and commercial projects. Note: this is Part 2 of my conversation with Lennox. If you missed it, go to the previous episode for Part 1, where we discuss why gentrification may be a good thing. Show notes and transcript on OpportunityDb.com
Part 1 of 2 with Lennox Jackson: Is Opportunity Zone gentrification a good thing? And why might affordable rate housing not be the best solution in certain low-income neighborhoods? Lennox Jackson is founder and CEO of Urban Equities, a Chicago-based real estate developer and advisor that specializes in residential, retail, and commercial projects. Note: this is Part 1 of my conversation with Lennox. Listen to the next episode for Part 2, where we discuss Chicago's Opportunity Zone neighborhoods. Show notes and transcript on OpportunityDb.com
What are some of the most common Opportunity Zones legal questions and issues when it comes to starting or investing in a Qualified Opportunity Fund? Attorney and accountant Steve Schneider is the head of the passthroughs law group at Baker McKenzie, the largest tax law firm in the United States. Show notes and transcript at OpportunityDb.com
What can the public sector do to magnify the impact of private investment in Opportunity Zones? And specifically, what policy levers is the Department of Housing and Urban Development able to pull? Beth Van Duyne is a former mayor of Irving, TX and currently serves as the regional administrator of HUD Region VI, which encompasses Arkansas, Louisiana, New Mexico, Oklahoma, and Texas. Show notes and transcript on OpportunityDb.com
Nearly the entire island of Puerto Rico lies in an opportunity zone. But what are some additional taxpayer benefits to investing in Puerto Rico, now a year and a half removed from the destruction of Hurricane Maria? María de los Angeles Rivera is head of tax and international business center director at Kevane Grant Thornton in San Juan, Puerto Rico. Show notes and transcript on OpportunityDb.com
The long-awaited second tranche of IRS regulatory guidance on Qualified Opportunity Funds has finally arrived. Tony Nitti is an Aspen-based real estate tax law expert, CPA, and tax services partner at RubinBrown. Additionally, he serves on the editorial advisory board for The Tax Adviser. And he’s also a regular contributor at Forbes.com, where his latest article addresses the 10 biggest questions that the second tranche of OZ guidance answers. Show notes and transcript on OpportunityDb.com
What are some due diligence best practices that every investor should undertake before investing in a Qualified Opportunity Fund? Chris Paganelli is a San Francisco Bay Area-based financial advisor at wealth management firm Stifel. He advises high net worth clients on tax strategy, wealth preservation, and portfolio management. Stifel launched a qualified opportunity fund earlier this month. Show notes and transcript on OpportunityDb.com
The long awaited second tranche of IRS regulatory guidance on Qualified Opportunity Funds will produce a set of principles and safe harbors that will give investors the ability to move forward. The best part? One senior Treasury official has said that they want qualified opportunity zone businesses "to sell to the world." Daniel Kowalski is Counselor to the Secretary of the Treasury. He speaks regularly at Opportunity Zones conferences on behalf of the Treasury Department and is one of the key figures in the Opportunity Zones regulatory process. Show notes and transcript on OpportunityDb.com
How has the Opportunity Zones program opened up community development to a different class of investors? And how will revitalization projects impact OZ communities? Jill Homan is founder and president of Javelin 19 Investments, a Washington DC-based commercial real estate investor, developer, and Opportunity Zones advisor. She testified at the IRS hearing on Qualified Opportunity Funds in Washington earlier this year. Show notes and transcript on OpportunityDb.com
How can AI be leveraged to improve Opportunity Zone investing? Former AirBNB executive Stefan Schimenes founded InvestReal last month with a mission to create the first data-driven real estate marketplace for Opportunity Zones, using AI to support investment decisions with data from numerous sources. Show notes and transcript on OpportunityDb.com
Should the Treasury Department impose a community impact reporting requirement on Opportunity Zone investing? And what would a reporting framework even look like? John Cochrane is senior associate at the U.S. Impact Investing Alliance, which recently created the Opportunity Zones Reporting Framework in partnership with the Beeck Center for Social Impact + Innovation. Show notes and transcript on OpportunityDb.com
Can blockchain technology revolutionize Opportunity Zones real estate investing? Josh Burrell and Lane Campbell at Activated Capital have an opportunity zone fund that may become one of the first to make use of a security token offering utilizing blockchain technology. Show notes and transcript on OpportunityDb.com
How can real estate investing in Opportunity Zones create triple bottom line returns? Loren Schirber is project pipeline manager for Minnesota Opportunity Zone Advisors, which recently started raising capital for their DREAM Fund. DREAM stands for “Developing Real Estate in Emerging Areas of Minnesota.” The fund is a Qualified Opportunity Fund that targets community-driven economic, social, and environmental impact. Show notes and transcript on OpportunityDb.com
What will business investing in Opportunity Zones look like? Coworking hub and startup incubator Launch Pad may offer the best example I've seen so far. The husband-wife team of CEO Chris Schultz and president Anne Driscoll are on a mission to create the world's strongest community of entrepreneurial workers. Show notes and transcript on OpportunityDb.com
What types of opportunity zone investments are community leaders looking for? And what can local communities do to incentivize investment in their opportunity zones? Erin Gillespie is principal at economic development consulting firm Madison Street Strategies and former deputy chief of staff for Florida’s Department of Economic Development Opportunity. Show notes and transcript at OpportunityDb.com
Last Thursday, February 14, the IRS Auditorium in Washington DC was packed to capacity with over 200 attendees as stakeholders spoke during the public hearing on proposed regulations: “Investing in Qualified Opportunity Funds” (REG-115420-18). For the most part, hearing participants requested additional clarification on several aspects of proposed regulations and suggested improvements to the regulations that would allow for more flexibility. Full hearing recap on OpportunityDb.com Show notes and transcript on OpportunityDb.com
What does Opportunity Zone deal flow actually look like at the deal level, fund level, and investor level? And which Opportunity Zones are seeing the greatest amount of deal flow? Craig Bernstein is principal at OPZ Bernstein, which recently launched the OPZ Bernstein Opportunity Zone Fund. Craig has over 20 years of real estate experience, and is one of the leaders in the Opportunity Zones industry. Show notes and transcript on OpportunityDb.com
Part 2 of 2 with Thomas Morgan: How is the Opportunity Zones program stimulating more impact investing across the United States? Real estate broker, developer, investor, and impact investing expert Thomas Morgan joins me today to discuss this topic and more. Note: this is Part 2 of my conversation with Thomas. If you missed it, go to the previous episode for Part 1, where we discuss the key similarities and differences between 1031 exchanges and Opportunity Zones. Show notes and transcript on OpportunityDb.com
Part 1 of 2 with Thomas Morgan: What are some of the key similarities and differences between a 1031 exchange and an Opportunity Zones investment? And how do the investor profiles of the two programs differ? Real estate broker, developer, investor, and 1031 expert Thomas Morgan joins me today to discuss these topics and more. Note: this is Part 1 of my conversation with Thomas. Go to the next episode for Part 2, where we discuss impact investing in opportunity zones. Show notes and transcript on OpportunityDb.com
Are two tax incentives better than one? Stacking, or twinning, multiple tax credits can oftentimes help bridge a funding gap on certain real estate projects. The Opportunity Zones program can be paired with a variety of other tax credits, including the Historic Tax Credit. The place-based nature of the Opportunity Zones program makes it ideally suited to be paired with the Historic Tax Credit. The HTC is a 40+ year old tax policy that encourages private sector investment in the rehabilitation and re-use of historic buildings. Rich Rogers is a land use law and economic development planning attorney at Borrelli & Yots. Show notes and transcript on OpportunityDb.com
How do we prevent the Opportunity Zones program from becoming merely a subsidy for gentrification? How can we instead ensure that opportunity zone investments actually benefit the people who live in the designated zones so that they can participate in any subsequent economic upturn? Dallas-based entrepreneurial business attorney Gerry Reihsen is out to answer those questions (and more) with his new endeavor — Coasis Coalition, an organization that will offer solutions and create community among those interested in participating in opportunity zone investing. Show notes and transcript on OpportunityDb.com
What does a rural opportunity zone revitalization project look like? And how can public-private partnerships help to accelerate a community’s renewal? The Colorado Outdoors project in Montrose County offers an excellent case study to answer these questions. Montrose, Colorado is home to 20,000 people. Although it has struggled since the economic downturn of the last decade, Montrose is one of the better up-and-coming communities in the western Colorado region. Located within 2 hours of every major outdoor activity you can possible imagine, it is truly an outdoor mecca. Led by real estate developers David Dragoo and John Renfrow, the 164-acre Colorado Outdoors project is a mixed-use development that aims to transform Montrose and provide a positive social impact for the community. Show notes and transcript on OpportunityDb.com
Will the opportunity zone initiative accelerate the nation’s transition to renewable energy? Find out why solar energy development and opportunity zone investing may be ideally suited for each other. Allen Alley is a technology investor, former Republican candidate for governor of Oregon, and co-founder of the Obsidian Opportunity Fund. Obsidian’s fund applies opportunity fund investing to renewable energy, and solar in particular. Allen has a vision for ubiquitous, low-cost, CO2-free power, and he believes opportunity zones may help make his vision a reality sooner than you think. Show notes and transcript on OpportunityDb.com
What does a project-driven opportunity zone fund actually look like? Where do investor dollars go? What's the fee structure? And what kind of positive social impact does it have on the community? Greg Genovese is president of Seattle-based Sound West Realty Capital, a full-service real estate firm raising funds for a re-development project in Bremerton, Washington. Greg and I discuss what investors should look for in any opportunity zone investment, the business case for opportunity zone investing west of Seattle, and why he thinks shovel-ready, project-driven OZ funds excel, compared to blind-pool OZ funds. Show notes and transcript on OpportunityDb.com
Nearly every opportunity zone fund in existence today invests primarily in real estate development. But what about investing in business? Vijar Kohli is co-founder and portfolio manager at Golden Door Asset Management, a micro private equity firm that recently started an opportunity zone fund focused on recapitalizing small businesses in the northeast corridor between Baltimore and Boston. Show notes and transcript on OpportunityDb.com
Family offices and high net worth individuals: if you have questions about investing in opportunity zones, this is the episode for you. Joining me is DJ Van Keuren -- a top 10 U.S. family office real estate professional. DJ Van Keuren literally wrote the book on family office real estate investing. He is also a member of the Forbes Real Estate Council, founder of the Family Office Real Estate Institute, and vice president of family office capital for the Hayman Family Office. Show notes and transcript on OpportunityDb.com
Opportunity fund consultant David Sillaman and host Jimmy Atkinson discuss the potential of the opportunity zone incentive to transform America and then dive into some tips for creating an opportunity fund, including the benefits and drawbacks of structuring as a corporation versus a partnership. David Sillaman is an expert business consultant who knows how to sweat the details when it comes to creating a new opportunity zone fund. He has a ton of tips to share. And while the majority new OZ funds have so far focused on real estate, David sees promise in a variety of sectors — business, franchise investing, residential investing, biotech, cannabis, and solar, just to name a few. Show notes and transcript on OpportunityDb.com
Real estate tax law expert Tony Nitti and host Jimmy Atkinson discuss the basics of the Opportunity Zones tax incentive and then dive into some unintended consequences introduced by the proposed IRS regulations. Self-described “codehead” Tony Nitti is a real estate tax law expert, CPA, and partner at WithumSmith+Brown. He also serves on the editorial advisory board for The Tax Adviser. And he’s a contributor at Forbes.com, where he recently published a thorough primer on the opportunity zones tax incentive. Show notes and transcript on OpportunityDb.com
How much do you know about opportunity zones? Maybe you know the basics — that the opportunity zones program is an economic policy intended to revitalize some of the most economically distressed areas of the country, and that to encourage investment in such communities, huge tax benefits await investors. Capital gains deferral on the front end, as well as capital gains exclusion on the back end. But if you’re like most people, you only have a rough grasp of how it all works. On this podcast, I want to transform you into an opportunity zone expert… or at least give you a better understanding of how you can become a more savvy OZ investor. Show notes and transcript on OpportunityDb.com