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This article by Marc Stiles originally appeared in the Puget Sound Business Journal.
Pinnacle Partners Launches $100 Million Opportunity Zone Fund
A subsidiary of leading Opportunity Zone investment firm Pinnacle Partners, in partnership with Opportunity Zone advisory firm Javelin 19 Real Estate, has launched Pinnacle Partners Opportunity Zone Fund VIII, a highly curated multifamily Opportunity Zone (OZ) fund investing in a minimum of four (4) select real estate projects in Opportunity Zones in emerging U.S. markets, such as Denver, Bozeman, Nashville, Salt Lake City, Phoenix, Austin and Dallas. The Fund is targeting $100 million in investments.
Created with the Tax Cuts and Jobs Act of 2017, Opportunity Zone tax incentives spur economic growth and job creation in communities while providing investors with a series of tax incentives, including deferral of rollover of capital gains of any kind until 2026, a 10% discount on the capital gains tax due in 2026 if the investment is made by December 31, 2021, and elimination on post-investment gains if the investment in the fund is held for 10 years.
