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Fundraising - NOVEMBER 14, 2018

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Grubb Properties launches $200m affordable housing real estate fund

by Jody Barhanovich

Grubb Properties has plans to launch the Qualified Opportunity Fund, a $200 million fund aimed at creating more affordable housing with real estate investments across the southeastern and mid-Atlantic United States.

“The Qualified Opportunity Fund will help generate a positive impact on underserved areas in the Southeast and serve as an important tool in creating more housing affordability,” said Clay Grubb, CEO of Grubb Properties.

The Qualified Opportunity Fund is part of a program established in last year’s federal tax overhaul, which gives tax breaks to spur investments in low-income areas. State governors identified more than 8,700 low-income census tracts that were then approved by the federal government as Qualified Opportunity Zones. The tax law allows investors to defer paying taxes on capital gains invested in the fund, pay reduced capital gains tax on those existing gains after certain holding periods, and eventually pay no capital gains tax on the app

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