Madison Capital Group, a Charlotte, N.C.–based vertically integrated real estate investment firm, has announced the launch of Madison Reno Hotel QOF, a qualified opportunity fund (QOF) focused on the redevelopment of a landmark hospitality asset located in downtown Reno, Nev.
Madison Reno Hotel QOF is focused on the repositioning of the original, landmark Harrah’s Resort and Casino property into a premium class A hospitality destination featuring approximately 292 guestrooms and full-service amenities. The property is located within Reno Revival, a 1.3 million-square-foot mixed-use redevelopment project in the heart of downtown Reno that includes multifamily, retail, office and entertainment components.
The fund is targeting approximately $36.2 million in capital commitments from accredited investors and is structured to provide eligible investors with the potential tax advantages associated with qualified opportunity zone investing, including deferral of eligible
