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Riaz Capital launches new opportunity zone fund in San Francisco Bay Area
Real Estate - SEPTEMBER 1, 2021

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Riaz Capital launches new opportunity zone fund in San Francisco Bay Area

by Kali Persall

Riaz Capital, a San Francisco Bay Area–based real estate development and management company, is seeking to raise $100 million for its latest opportunity zone development fund, the Ozone III fund.

The strategy is focused on delivering cycle-resistant investor returns on housing for the Bay Area’s underserved urban workforce.

Riaz’s micro-studio strategy develops housing that is affordable for Bay Area renters earning between $50,000–$120,000. The Bay Area has an estimated 408,000-unit shortage of housing that is affordable for this group. Ozone Fund III is expected to create up to 1,600 workforce housing residences for this demographic.

Riaz Taplin, founder and principal of Riaz, said the strategy’s success under the worst economic conditions in recent memory underscores its stability as a long-term investment. The firm’s current 1,500-unit portfolio recorded 95 percent occupancy and 94 percent rent collections through the peak months of the pandemic.

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