Starwood Capital’s Barry Sternlicht, Holland Partner Group CEO Clyde Holland, and a rendering of 550 Harborfront Starwood Capital Group is taking its Opportunity Zone fund to San Pedro. The Miami Beach-based firm has teamed up with Holland Partner Group on a 375-unit apartment building that Holland is developing at 550 S. Palos Verdes Street in […]
Will new Opportunity Zones rules propel an office boom?
Office building blueprints (Credit: iStock) When Michael Tillman’s PTM Partners bought property in Overtown in February to build an 18-story apartment complex, it became one of the first Miami-based real estate firms to utilize the Opportunity Zone program. The federal program is seen by many as the biggest economic boost to the real-estate industry since […]
LA’s Opportunity Zone market heats up with $58M in new deals
Mayer Separzadeh and Goodwin Gaw What do an ice cream maker and gun shop owner from Los Angeles have in common with an investor from Miami? All three recently cashed out of properties in Opportunity Zones in L.A. The deals closed in February and April but were just filed in public records. The three deals […]
How a $2B redevelopment site in Chicago landed in a federal Opportunity Zone: A TRD investigation
From left: A rendering of the Burnham Lakefront, Mayor Rahm Emanuel, former Governor Bruce Rauner, and a map of Opportunity Zones in Chicago (Credit: Getty Images; Map by Haru Coryne) Most of the 135 Opportunity Zone Census tracts in Chicago trace a familiar path through the city’s most economically distressed neighborhoods, highlighting sections of the […]
Brookfield is getting into the Opp Zone game
Brookfield Property Partners CEO Brian Kingston Brookfield Asset Management is the latest firm getting into Opportunity Zones. The firm’s New York real estate division, Brookfield Property Partners, is going to launch an Opportunity Zone fund, Bloomberg reported. “We are launching a fund in the next month or two,” Brookfield Property Partners’ CEO Brian Kingston said […]
New Opportunity Zones rules are released. Will developer money follow?
Steven Mnuchin (Credit: Getty Images) The government released its long-awaited and latest set of Opportunity Zone regulations Wednesday, hoping to provide investors who have been on the fence with the clarity needed to begin developing projects in distressed areas nationwide. Real estate developers have become enamored with Opportunity Zones, seeking to raise funds into the […]