Dear Friend of Duval & Stachenfeld:
Opportunity Zones continue to be hot, hot, hot, and getting even hotter in recent weeks. We are thrilled that so many of our clients are doing deals in Opportunity Zones, and many of our clients and other contacts in the real estate world are investing their eligible capital gains in Opportunity Zone transactions. And market travails – last year and likely this year as well – are giving rise to more capital gains available for investment.
Strangely – for the first time – we have more clients with OZ dollars than clients with OZ deals. Funny how things keep changing around.
For this reason, we are reminding everyone about our:
Opportunity Zone HUB
This is an informal value-add platform whereby we match our clients and friends of the firm with others in the following – super simple – manner:
For example, if you want to invest in Opportunity Zones – for yourself or your clients or friends or colleagues with eligible gains – we will refer you to clients trying to put together Opportunity Zone deals. Or, if you have an Opportunity Zone transaction, we will refer you to clients that have eligible gains to invest in Opportunity Zone deals.
In this regard, if you have interest, please reach out and let me know what type of OZ help you are looking for and copy Kristen McMaster on your response.
All of this is solely in keeping with our core mission, “To Help Our Clients Grow Their Businesses.”
Finally, I cannot end this without mentioning that our Wizard of OZ, Jessica Millett, continues to be a leader in the Opportunity Zone space and has been advising our clients in this space as the program enters its third year. To date, she has been quoted in Bloomberg, Real Estate Weekly, The Commercial Observer, Law360, Tax Notes, and The Wall Street Journal, and she has made numerous presentations to industry groups. Jessica has also been a guest on many opportunity zone podcasts, was a featured author in the book “How To OZ: A guide to Opportunity Zones for investors, developers, and industry professionals,” and was listed as one of the Top 25 Opportunity Zone Influencers by Opportunity Zone Magazine two years in a row.
Her latest Roadmap, Operating Businesses and Opportunity Zones, co-authored with tax associate Jonathan Hagler, is a summary of how operating businesses can be structured as qualifying investments for Qualified Opportunity Funds (QOFs). We are seeing increased interest in operating business investments, so reach out if you have questions or would like to discuss a possible investment.
Bruce Stachenfeld, Chairman | bstachenfeld@dsllp.com | 212-692-5550
Jessica Millett, Tax Chair | jmillett@dsllp.com | 212-692-5988
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