Avanath and Opportunity Assets Group launch $300m opportunity zone fund
Avanath Development and Opportunity Assets Group have launched a qualified opportunity zone fund with a target raise of up to $300 million.
In addition to improving low-income communities in designated opportunity zones, the fund is designed to defer and reduce current taxes and provide long-term tax-free investment gains for qualified investors, according to Daryl J. Carter, chairman of Avanath Development.
“This fund has been created for long-term investors looking to invest in affordable/workforce housing with a proven sponsor and designated, actionable assets,” said Carter. “It will acquire a targeted portfolio of quality affordable/workforce housing which are mostly cash-flowing properties in need of expansion and/or renovation to be managed by Avanath Development’s affiliate, Avanath Realty.”