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Seattle & Northwest  + Seattle  + Apartments  |  October 21, 2024
Jasmine Kilman
By: Jasmine Kilman

Pinnacle Partners Raises $90M for Multi-Asset Opportunity Zone Fund

Real Estate investment management firm Pinnacle Partners announced the closure of its twelfth Qualified Opportunity Zone Fund (QOF), securing $90 million in investments.

The Fund invested in four residential development projects: two market-rate multifamily communities within NFL stadium districts in Denver, CO and Nashville, TN; one build-to-rent single-family home community in Avondale, AZ; and one build-to-rent townhome community in Charlotte, NC.

“Though our twelfth fund, this represents an entirely new chapter for Pinnacle Partners in this being our first multi-asset fund,” said Pinnacle Partners Co-Founder and Managing Partner Leo Backer. “We work on behalf of our investors to identify what we believe to be institutional-quality projects, sourced through exclusive relationships, that offer portfolio diversification in addition to substantial tax advantages.” 

The company is actively in the market with its next QOF focused on build-to-rent opportunities in the Southeast, which has identified three shovel-ready development projects with Trilogy Investment Co. as co-general partners.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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