After over a year of waiting on IRS guidance and preparing, it's truly exciting to make our first Opportunity Zone investments.
We are currently finalizing our first 4 investments worth over $8M in equity and expect to double this investment amount by the end of the year. Even though this is our first Opportunity Zone fund, we have been making investments with strong returns for years in what are now Colorado Opportunity Zones before they were designated.
We will raise a new fund every 6 months and are currently halfway through Fund 1. This both enables investor liquidity as soon as possible at the end of each fund's 10 year hold requirement and simplifies investor timelines as a capital gains tax must be placed in an OZ fund within 180 days of realizing it. Now that we are far along in the process of securing our first investments, we are spending a lot of our time fundraising and welcome conversations with you or people you know that have realized capital gains or will sometime in the near future.
Our approach to due diligence and commitment to high quality investments has been made possible by our ability to access significant bridge capital. This allows us to find and commit to high quality investments quickly and provide the diversity of a pooled fund with the investor clarity of knowing which investments the fund will be making. We continue to find high value opportunities in growing areas of the state and are partnering with experienced teams around each investment to ensure strong management and execution.
If you have or plan to have capital gains, we recommend having a conversation with us sooner than later. We too like to wait to the last minute to deal with taxes... but with the Opportunity Zone incentive, we expect there to be questions.
Our First Four Committed Investments:
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