Trepp data shows that approximately $65 billion of CMBS loans have underlying collateral (5,842 properties) located in opportunity zones.
States with the greatest number of CMBS properties located in opportunity zones include:
- California – 887 properties
- New York – 506 properties
- Florida – 403 properties
- Texas – 372 properties
- Illinois – 294 properties
The multifamily CMBS space will receive the greatest benefits from the new tax law since the number of apartments in eligible opportunity zones far exceeds all other property types. Eligible opportunity zone properties for the five major property types are as follows:
- Multifamily – 2,803 properties
- Retail – 749 properties
- Lodging – 484 properties
- Office – 416 properties
- Industrial – 307 properties
To read more of the data, click here.