Latest Real Estate Opportunity Zone News - Connect CRE

MarcusMillichap-48-banner

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Classroom Links

Advertise, Promote, Attend, Create – Work with Connect.

A full service marketing and PR agency.

Meet the team behind the machine and taste a little of the secret sauce.

GTIS Partners Launch Tax Advantaged Opportunity Zone Fund II

GTIS Partners Launch Tax Advantaged Opportunity Zone Fund II

New York & Tri-State + Midtown New York + Opportunity Zones | June 29, 2022

AHRC Sells Former Weinberg Center in LIC

New York & Tri-State + Outer + Opportunity Zones | June 20, 2022

Spectrum and Pinnacle Partner in Spokane Apartment Project

Seattle & Northwest + Pacific Northwest + Opportunity Zones | July 7, 2022

Spectrum and Pinnacle Partner in Spokane Apartment Project

National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

More Opportunity Zones Stories

Companies achieve great success when aligned around a common goal and brand story. The experts integrated into our team at Connect Creative span every marketing and communications discipline and channel, encompassing skilled graphic designers, public relations leaders, copy writers, content producers, digital wizards, and website developers. A collaborative approach brings out your company’s stories that are shaped and crafted with the perfect visual, the right words and in the most dynamic way.

Connect with Creative

Latest Atlanta & Southeast Opportunity Zones Stories

Walker & Dunlop, Inc., has structured $47 million in financing for the development of The Line, an opportunity zone multifamily in Savannah, GA.

Walker & Dunlop Structures $47M for Community in Downtown Savannah OZ

Atlanta & Southeast + Southeast + Opportunity Zones | May 13, 2022

Bethesda, MD-based Walker & Dunlop, Inc., has structured $47 million in financing for the development of The Line, a 219-unit, Class A+ multifamily project in Savannah, GA. The property is located in downtown Savannah within an Economic Opportunity Zone census tract. Opportunity zones were established by Congress in the Tax Cuts and Jobs Act of …

City skyline view of downtown Raleigh high-rise buildings facing a park at twilight

Avanath Completes First OZ Fund Acquisition, Buys $19M Workforce Community in Cary

Atlanta & Southeast + Southeast + Opportunity Zones | February 2, 2022

Avanath Capital Management, LLC, has completed the $19.2-million acquisition of the Arbors at Cary, a 248-unit affordable housing community in the Raleigh metro area of Cary, NC. PGIM Real Estate served as Avanath’s equity partner and lender. The firm plans to redevelop the 1967- and 1971-constructed community under opportunity zone legislation, its first effort. “The …

Latest Boston & New England Opportunity Zones Stories

Historic Market Street in Woonsocket, RI

Bank RI Offers $8M to Refinance Woonsocket Affordable Housing Community

Boston & New England + New England + Opportunity Zones | October 28, 2021

Bank Rhode Island’s commercial real estate division has provided $7.9 million to Cathedral Development Group, Inc., to refinance the Hanora Lippitt Mills housing complex in Woonsocket, RI, according to published reports. Hanora Lippitt Mills features 117 affordable housing units dedicated for elderly and disabled residents. A historic textile mill whose oldest section was constructed in …

Affordable housing construction, generic

Bill to Enable Affordable Housing Development Draws New England Cosponsors

Boston & New England + New England + Opportunity Zones | October 25, 2021

More than 13 legislators from the New England region as of October 22, 202, have signed on as cosponsors of The Affordable Housing Credit Improvement Act of 2021: ConnecticutSen. Christopher Murphy (D)Rep. James Himes (D)Rep. John Larson (D) MaineSen. Susan Collins (R) MassachusettsRep. Jake Auchincloss (D)Rep. Katherine Clark (D)Rep. James McGovern (D)Rep. Ayanna Pressley (D)Rep. …

Latest California Opportunity Zones Stories

USC Gould School of Law to Hold Real Estate Law and Business Forum

California + Los Angeles + Opportunity Zones | April 6, 2022

USC Gould School of Law is holding its USC Gould 2022 Real Estate Law and Business Forum tomorrow. The event will be held at the Jonathan Club in downtown Los Angeles. It will include opportunities to meet industry experts, learn about current trends and network with other commercial real estate professionals. Some of the workshops …

Nobell Foods is relocating its headquarters to San Francisco

SF Housing Advocates Score with New, Affordable Projects

California + Bay Area + Opportunity Zones | February 17, 2022

The goal of increasing access to affordable housing is getting a boost in San Francisco with the city, developers, realtors and housing advocates all hoping for an all-around win on this front. Mayor London Breed’s office and the SF Board of Supervisors have closed a deal with Maximus Real Estate Partners and Crescent Heights, a …

Latest Chicago & Midwest Opportunity Zones Stories

Cresset Real Estate Partners is developing the Whiteland 65 logistics project in partnership with Hines

Cresset Closes Funds for Logistics, QOZ; Immediately Launches Follow-Ups

Chicago & Midwest + Downtown + Opportunity Zones | June 1, 2022

Cresset Partners said Wednesday it had closed its first industrial-focused fund, the Cresset Real Estate Logistics Fund I at more than $250 million, which will finance the development of nine state-of-the-art warehouse facilities. To meet ongoing demand for warehouse space, Chicago-based Cresset has launched its second industrial fund. In addition, Cresset has closed its second …

Bankruptcy Auction Offers 50 Properties in Manhattan, Kansas

Bankruptcy Auction Offers 50 Properties in Manhattan, KS

Chicago & Midwest + Midwest + Opportunity Zones | May 6, 2022

A&G Real Estate Partners is now accepting bids for its June 14 bankruptcy auction of more than 50 properties in and around Manhattan, KS. The assets include several development sites and multi-unit buildings in a federal Opportunity Zone adjacent to Kansas State University. “This bankruptcy auction features assets that will be of interest to a wide array of …

Latest Florida & Gulf Coast Opportunity Zones Stories

Edge Collective in St. Petersburg, FL

PTM and DoveHill Form JV for St. Petersburg Hotel-Based Mixed-Use Project

Florida & Gulf Coast + Central Florida + Opportunity Zones | January 11, 2022

PTM Partners and DoveHill Capital Management have formed a joint venture partnership on the Edge Collective, a mixed-use, qualified opportunity zone development located on Central Avenue in St. Petersburg, FL. PTM Partners acquired the development’s 1.6-acre parcel site (currently a parking lot and vacant commercial building) in October 2019 for $13 million. Edge Collective will …

Circa at Fishhawk Ranch in Lithia, FL

JBM Closes on Three W FL Existing Multifams Plus Acreage for $119M

Florida & Gulf Coast + Central Florida + Opportunity Zones | October 19, 2021

JBM Institutional Multifamily Advisors has completed $119 million worth of closings on four separate west Florida properties. Circa at Fishhawk Ranch, a 260-unit Class-A asset in Lithia, was acquired by GMF Capital from Inland Real Estate Group for $66.2 million. According to JBM, at closing the price was the highest per-unit paid for a 2015 …

Latest Global Opportunity Zones Stories

Latest Lenders Opportunity Zones Stories

Latest National Opportunity Zones Stories

Blackstone Mortgage Trust Offers $300M of Convertible Notes

QOFs Continue Raising Capital, Despite Basis Step-Up Expiration

National + Opportunity Zones | April 21, 2022

December 31, 2021 marked the end of the 10% basis step-up benefit for investments in Qualified Opportunity Funds (QOFs), which invest in Qualified Opportunity Zones, or QOZs. Yet according to a report issued by Novogradac, $28.4 billion in equity was raised by QOFs in Q1 2022, a 16.3% increase over the $24.4 billion reported at …

Legislation Introduced to Extend OZ Incentives, Add Reporting Requirements

National + Opportunity Zones | April 7, 2022

When the Opportunity Zones tax incentive was established under the Tax Cuts and Jobs Act of 2017, the goal was to help direct capital to federally designated, lower-income areas to help spur economic revitalization. Now some members of the Senate and House of Representatives want to extend the federal opportunity zones (OZ) incentive, ensure reporting …

Latest New York & Tri-State Opportunity Zones Stories

GTIS Partners Launch Tax Advantaged Opportunity Zone Fund II

GTIS Partners Launch Tax Advantaged Opportunity Zone Fund II

New York & Tri-State + Midtown New York + Opportunity Zones | June 29, 2022

GTIS Partners, a global real estate investment firm with $4.7 billion in gross assets under management focused on residential and industrial real estate investments, is launching its GTIS Qualified Opportunity Zone Fund II on July 1. Fund II is a continuation of the strategy employed by its predecessor GTIS Qualified Opportunity Zone Fund I, which raised …

AHRC Sells Former Weinberg Center in LIC

New York & Tri-State + Outer + Opportunity Zones | June 20, 2022

Nonprofit AHRC New York City and its broker Denham Wolf Real Estate Services have sold 32-03 and 31-17 39th Ave., a combination of two highly visible corner lots in Long Island City, Queens for $28,625,000. The buyer was 39th Ave Equity, LLC. Located in a Qualified Opportunity Zone, just outside the core area of Queens …

Latest Phoenix & Southwest Opportunity Zones Stories

First and Only Hotel Connected to Tucson Convention Center Opens its Doors

Phoenix & Southwest + New Mexico + Opportunity Zones | March 25, 2021

The first and only hotel connected to the Tucson Convention Center, DoubleTree by Hilton Tucson Downtown, opened its doors this week, according to CaliberCos Inc. and Ryan Companies US Inc. The project broke ground in May 2019 and was the first Opportunity Zone project in Arizona for Caliber and Ryan Companies. This new hotel supports …

Pintar and Suncrest Partnership Acquire OZ Land in Phoenix

Phoenix & Southwest + Phoenix + Opportunity Zones | March 10, 2021

Pintar Investment Company and Suncrest Real Estate & Land recently acquired an 8.68-acre Opportunity Zone parcel in Phoenix. The partnership identified the land parcel opportunity for a 109-unit build-to-rent community called Zora Encanto as an investment within the PICOZ Fund I L.P. This is the fourth asset in this investment vehicle. “We have been actively …

Latest Seattle & Northwest Opportunity Zones Stories

Spectrum and Pinnacle Partner in Spokane Apartment Project

Spectrum and Pinnacle Partner in Spokane Apartment Project

Seattle & Northwest + Pacific Northwest + Opportunity Zones | July 7, 2022

Seattle-based Spectrum Development Solutions and investment firm Pinnacle Partners have acquired a 5.75-acre site and will develop a 160-unit Class A multifamily project in the University District of Spokane, WA. The development is located within an opportunity zone, providing economic incentives for Spokane and the real estate investment community. “This is a terrific opportunity for …

Nearly $40M in Sales for 3 Buildings in Olympia’s Downtown Core

Nearly $40M in Sales for 3 Buildings in Olympia’s Downtown Core

Seattle & Northwest + Opportunity Zones | February 28, 2022

Kidder Mathews brokered three building sales in Olympia’s downtown core, totaling nearly $40 million. This demonstrates the increasing interest from investors and developers in the Thurston County suburban market, due largely to the attractive pricing in the market, the Opportunity Zone in downtown Olympia, and great access to Olympic Peninsula and Puget Sound. As workers …

Latest Texas Opportunity Zones Stories

The Alora is a 400-unit low-density garden-style community

Indus Management Scores Two Workforce Multifamily Properties in QOZ

Texas + Houston-Galveston + Opportunity Zones | January 25, 2022

Two workforce multifamily properties in a Houston Qualified Opportunity Zone recently sold for an undisclosed purchase price. Indus Management, a multifamily management company also based in Houston, acquired the properties for a combined total of 687 units. Joey Rippel, Chris Young, Jeffrey Skipworth, Kyle Whitney, Todd Marix and Chris Curry of Berkadia Houston marketed The …

Lone Star Fund

$100M LoneStar Life Sciences OZ Fund Seeks Accredited Investors

Texas + State of Texas + Opportunity Zones | August 5, 2021

The $100 million LoneStar Life Sciences OZ Fund LLC recently launched, seeking accredited investors for an investment in indoor growing facilities. These facilities will house hops and other crops along with sales of related products from rural agricultural opportunity zones near Lockhart and San Marcos, TX. The fund will invest all of the net proceeds …

Latest Washington DC Opportunity Zones Stories

Zero Energy North Avenue Affordable Housing project in West Baltimore's Penn North neighborhood

Investors Launch $5M Zero Energy Affordable Housing Initiative in Baltimore

Washington DC + Baltimore + Opportunity Zones | November 17, 2021

The Woodforest CEI-Boulos Opportunity Fund, a high-impact commercial real estate Opportunity Zone fund established by Woodforest National Bank and CEI-Boulos Capital Management, has placed a $1.1 million equity investment in the Zero Energy North Avenue Affordable Housing initiative. The project is located in the “Black Arts District” in West Baltimore’s Penn North neighborhood. The fund …

Quantum Park Data Center in Northern VA

Landmark Dividend Acquires Portfolio of Assets in N VA Quantum Park Data Center

Washington DC + DC Metro + Opportunity Zones | October 13, 2021

Landmark Dividend, LLC, has acquired approximately 1.2 million square feet of data center space within Loudoun County’s historic Quantum Park development located in the heart of Northern Virginia’s Data Center Alley. The acquisition marks Landmark’s 35th data center transaction; digital infrastructure assets now comprise more than $1 billion of the company’s assets under management. Featuring …