PTM Partners completes first closing of second qualified opportunity zone fund

PTM Partners, a real estate investment and development firm focused on qualified opportunity zones, has completed the first close of its second qualified opportunity zone fund, PTM Partners Opportunity Zone Fund II, with $40 million in capital commitments.

PTM is targeting $250 million of capital for opportunity zone developments across the United States.

“We decided to launch Fund II to capitalize on attractive opportunities that we have sourced in our pipeline of projects that is north of $2 billion,” said Michael Tillman, co-founder and CEO of PTM. “PTM continues to execute on our hybrid opportunity zone strategy, focusing on fostering positive community impact while solidifying long-term profitability for our investors and partners.”

PTM Partners Opportunity Zone Fund II will focus on developing residential projects that are price accessible by large portions of the population. PTM said it plans to increase its position as an institutional leader w