Investment activity in qualified opportunity zones (QOZ) rebounded in the aftermath of the pandemic's initial impact on the commercial real estate market, according to BBG, a due diligence commercial real estate firm.
Activity in investment and ongoing projects in opportunity zones, along with other commercial real estate investments, declined following the stock market's plunge in March, triggered by investor concerns over the spreading COVID-19's impact on the economy.
However, activity picked up again later in the spring largely due to investors taking capital gains from money pulled from the stock market and funneling it into QOZ funds. According to industry sources, when investors and developers returned to closing deals and beginning new projects, it made the program the most active in the commercial real estate market.
In other COVID-related news impacting opportunity zones, the Internal Revenue Service announced earlier this month that it extended the de
