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EquityPlus, Lumbee Development Group, and President Street Development are co-developing a new student housing and retail project located directly across the street from the University of North Carolina at Pembroke (“UNCP”).  Demand for student housing already exceeds supply; as of Fall 2018, student beds in the Pembroke Market Area are 100% occupied. The development will ultimately provide 492 beds as well as 20,000 sq. ft of retail space. This funding round is for Phase I
So, you are considering an Opportunity Zone investment and you want to bolster your tax offset? Consider combining your investment with the New Markets Tax Credits scheme, which in some cases can cover the same project and allow you to double down on your investment. What Are New Markets Tax Credits? The New Markets Tax Credits, or NMTC, were established as part of the Community Renewal Tax Relief Act of 2000 to encourage investment in
ARIAM in partnership with The Reliance Solutions Group has the opportunity to acquire Hamilton Pines (“Hamilton”) in Chattanooga, TN for $2.75 million. The property was acquired for $1.7 million by the Seller in 2018, who has spent approximately $350k in capital renovating the property since acquisition. To date, the seller has renovated 31 of 56 units, replaced all roofs, mailboxes and renovated the onsite laundry facility. We’re budgeting $475,000 ($8,482/unit) to renovate the balance of the
With millions of dollars at stake, investors should understand Opportunity Zone tax benefits and multiple levels of regulation, and how they impact the tax benefits of investing in an Opportunity Zone. This blog covers the basics, including what capital gains can be invested and on what kinds of projects, plus the Treasury’s clarifications made in December 2019. What is an Opportunity Zone and How Does it Relate to Capital Gains Tax? There are 8,700 Opportunity
Acre Holdings, LLC, is arranging for the acquisition of undivided real estate interests in the above property by a limited number of investors. The property consists of 125 acres in Weedsport, NY, of which only 30% have been developed. There are 362 existing RV sites with expansion plans for more sites, a restaurant, and 24 boat/jet ski slips with room to add another 20. The listing price was $3,199,000 but purchase price was negotiated to