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Seattle & Northwest  + Seattle  + Apartments  |  February 14, 2023
Unique USG Fund Invests in Tacoma Multifamily Development
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By: Mark Nieto

Unique USG Fund Invests in Tacoma Multifamily Development

Opportunity zone investment specialist USG Realty Capital has added a ground-up project in Tacoma, WA as part of its Investors Choice OZ Fund. The 176-unit multifamily development with ground-floor retail and located in an opportunity zone, will be developed in partnership with Plus Capital Partners and is scheduled for a June 2024 delivery.

“When looking for our next qualified opportunity zone project to include in our portfolio, the Tacoma submarket stood out as an exceptional area that meets our standards,” said Greg Genovese, founder of USG Realty Capital. 

The development, Market Square Apartments, will be an eight-story building located adjacent to the Greater Tacoma Convention Center and will include a fitness center, bike storage, pet grooming area, two resident lounges and a pair of rooftop amenity decks.

The $50 million USG Realty Capital’s Investors Choice OZ Fund was launched in 2021 and has added four projects to its portfolio. The offering focuses on projects with investment equity targets between $5 and $10 million.

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Inside The Story

USG Realty CapitalPlus Capital Partners - Market Square ApartmentsGreg Genovese

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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