Viceroy Equities has formed the B’KOZ Opportunity Zone Fund. The B’KOZ Fund will invest exclusively in projects in Opportunity Zones in Brooklyn.
The fund will be limited to raising $75 million allowing the firm to deploy capital in a focused manner, ensuring that investors benefit not only from the tax incentives but also from the asset appreciation.
The Tax Cuts and Jobs Act of 2017 enacted by Congress set out the formation of Opportunity Zones throughout the United States with the intent of catalyzing growth in various census tracts. By investing in Opportunity Zones through designated opportunity funds, investors can garner substantial tax benefits. Opportunity funds allow investors to defer federal taxes on any recent capital gains until Dec. 31, 2026, reduce that tax payments by up to 15 percent, and pay as little as zero taxes on potential profits from an opportunity fund if the investment is held for 10 years.
