Canyon Partners Real Estate has provided $29.4 million of qualified opportunity zone equity under its new opportunity zone (OZ) strategy in a joint venture with Aspen Heights Partners.
The equity commitment will finance the ground-up development of a class A, midrise multifamily project in the rapidly growing Symphony Park district of downtown Las Vegas. The project will include 290 apartment units and approximately 4,300 square feet of retail space to be used as a full-service restaurant.
Canyon’s experience as a capital provider across asset classes includes a long history in multifamily investing. Over the past five years, Canyon has made more than $800 million of debt and equity investments in multifamily assets nationwide, supporting the financing of $2.5 billion of projects. With this investment, Canyon becomes one of the first institutional real estate investors to support the opportunity zone program.
The institutional-quality Symphony Park development
