Readers of this blog have had the opportunity to see multiple posts on the subject of federal OZones time-and-time again. The clock is currently ticking on yet another fast-approaching deadline for investors wanting to fully use the benefit to shelter last year’s profits from hedge funds and other partnerships, the deadline is June 29.
There seems to be some urgency from Caliber to start a blitz in public relations that only gets a quick mention about "a passing window", despite a feverish push from developers, accountants and law firms, investors are hesitating before jumping into Opportunity Zone funds, according to wealth advisers. As we know now here in Downtown Mesa there wasn’t “much time” for “extra due diligence” on the Opportunity Zone funds, and unless someone else wants to state otherwise, the amount of capital closed so far is small.
Some are awaiting more guidance from the Treasury Department, which is expected to release rules this month, while others are heeding caution that some funds are riskier bets or aren’t yet up and running.
The Treasury Department is expected to issue a second round of regulations governing the provision sometime this month, fleshing out a first round last October.
Opportunity Zones Knocking, But Few Answering the Call So Far
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Caliber-The Wealth Development Company
Releases Q1 Update On Qualified Opportunity Zone Fund
April 10, 2019 8:01am
Leading the industry, the Caliber Tax Advantaged Opportunity Zone Fund, LP is one of only a few actively investing capital into opportunity zones
SCOTTSDALE, Ariz. (PRWEB) April 10, 2019
"Caliber-The Wealth Development Company has released a Q1 update focused on its growing Qualified Opportunity Zone Fund (QOF).
During the past year, Caliber has emerged as an early adopter and industry-leading expert in opportunity zones and is one of the only funds currently taking in capital.
The Caliber Tax Advantaged Opportunity Zone Fund, LP. has raised more than $30 million since its launch in Q4 2018 and it is expected to reach the $500 million goal within two years.
"There is a finite time limit for reinvesting capital into a qualified opportunity zone fund and our capital commitment pipeline is filling quickly," said Caliber co-founder and CEO Chris Loeffler.
"By launching our fund early, we've been able to offer more investors the chance to take advantage of the incredible tax incentives associated with this program before their window closes."
The fund invests directly into a diversified portfolio of assets located in qualified opportunity zones across the southwest.
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Blogger Note: Not mentioned in this press release is the Downtown Mesa OZone
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There are currently three projects being developed as part of the fund, with a combined worth of more than $65 million.
Caliber has an additional $250 million in projects under LOI/PSA and an additional $4 billion of projects in its growing diligence pipeline.
Some examples of owned or contracted projects include:
Headquartered in Scottsdale, Arizona with an investment focus in the Greater Southwest growth markets, Caliber leads the market in providing individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments.
> The Company offers an approachable, full-service investment experience with more than 1,500 team members working to care for over $750 million (assets under management & development) in commercial, residential, and hospitality real estate in AZ, CO, TX, NV, UT and AK.
> Caliber offers both asset management and real estate services to create a vertically integrated investment platform focused on middle-market investment transactions.
>The Company is currently offering four distinct private real estate funds, two focused on income and two focused on growth, with the most notable being a $500m equity offering in the Southwest as a qualified opportunity zone investment fund.
Learn more at Caliberco.com or follow Caliber on social @CaliberCo.
Note To Investors
This Press Release Is Provided Solely For Information Purposes And Does Not Constitute Legal Or Investment Advice.
This Is Neither An Offer To Sell Nor A Solicitation Of An Offer To Buy Securities.
While We Endeavor To Keep The Information Up To Date And Correct, We Make No Representations Or Warranties Of Any Kind, Express Or Implied, About The Completeness, Accuracy Or Reliability Of The Data And Summaries Contained In This Press Release Or The Suitability Of Any Separate Offering For Investors.
There Are Risks Associated With Any Investment.
In Making An Investment Decision, Investors Must Rely On Their Own Examination Of The Company They Wish To Invest In Including The Merits And Risk Involved.
Any Forward Looking Statement Speaks Only As Of The Date On Which Such Statement Is Made, And We Undertake No Obligation To Update Any Forward Looking Statement To Reflect Events Or Circumstances After The Date On Which Such Statement Is Made.
Please Contact Caliber Directly At 480-295-7600 For Further Information.
There seems to be some urgency from Caliber to start a blitz in public relations that only gets a quick mention about "a passing window", despite a feverish push from developers, accountants and law firms, investors are hesitating before jumping into Opportunity Zone funds, according to wealth advisers. As we know now here in Downtown Mesa there wasn’t “much time” for “extra due diligence” on the Opportunity Zone funds, and unless someone else wants to state otherwise, the amount of capital closed so far is small.Some are awaiting more guidance from the Treasury Department, which is expected to release rules this month, while others are heeding caution that some funds are riskier bets or aren’t yet up and running.
The Treasury Department is expected to issue a second round of regulations governing the provision sometime this month, fleshing out a first round last October.
Bloomberg News had this to say two days ago:
Lack of Treasury rules and vetting of funds are slowing buy-ins. . . Investors eyeing President Donald Trump’s Opportunity Zones face a ticking clock if they want to fully capture one of the biggest tax breaks in decades.
But few so far seem ready to make the leap
"Tucked into the 2017 tax overhaul, Opportunity Zones let investors reduce and postpone taxes on profits from stocks, businesses and investment partnerships provided the money is reinvested in one of more than 8,700 low-income communities across America. Investors can also avoid tax on future profits from those investments, on which they must make “substantial improvements.”
"Tucked into the 2017 tax overhaul, Opportunity Zones let investors reduce and postpone taxes on profits from stocks, businesses and investment partnerships provided the money is reinvested in one of more than 8,700 low-income communities across America. Investors can also avoid tax on future profits from those investments, on which they must make “substantial improvements.”
- To reap the entire tax bounty, investors have to buy into eligible projects by the end of this year.
- For investors wanting to fully use the benefit to shelter last year’s profits from hedge funds and other partnerships, the deadline is even sooner -- June 29. . .
Releases Q1 Update On Qualified Opportunity Zone Fund
April 10, 2019 8:01am
Leading the industry, the Caliber Tax Advantaged Opportunity Zone Fund, LP is one of only a few actively investing capital into opportunity zones
SCOTTSDALE, Ariz. (PRWEB) April 10, 2019
"Caliber-The Wealth Development Company has released a Q1 update focused on its growing Qualified Opportunity Zone Fund (QOF).
During the past year, Caliber has emerged as an early adopter and industry-leading expert in opportunity zones and is one of the only funds currently taking in capital.
The Caliber Tax Advantaged Opportunity Zone Fund, LP. has raised more than $30 million since its launch in Q4 2018 and it is expected to reach the $500 million goal within two years.
"By launching our fund early, we've been able to offer more investors the chance to take advantage of the incredible tax incentives associated with this program before their window closes."
The fund invests directly into a diversified portfolio of assets located in qualified opportunity zones across the southwest.
_________________________________________________________________________
Blogger Note: Not mentioned in this press release is the Downtown Mesa OZone
_________________________________________________________________________
There are currently three projects being developed as part of the fund, with a combined worth of more than $65 million.
Caliber has an additional $250 million in projects under LOI/PSA and an additional $4 billion of projects in its growing diligence pipeline.
Some examples of owned or contracted projects include:
Tucson Convention Center Hotel: a 170 room Doubletree by Hilton property with 4,000 square feet of meeting space and multiple bar/dining options
Roosevelt Townhome Community: 42 units in downtown Tempe, Arizona - within walking distance to Arizona State University - complete with integrated smart home technology and sustainable features
Pre-Leased Medical Office: offers 10% cap rate on investment basis and 20-year, guaranteed lease term - the property is located within 10 miles of 25+ other medical facilities
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Caliber provides individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments.
- In addition to Opportunity Zones, the company builds wealth by forming and managing real estate private equity investments, either through individual assets or multi-asset funds. Caliber will be hosting its annual summit – focused on access to alternative investments – in Phoenix, May 2-4.
- The company is also a sponsor of the upcoming SALT conference in Las Vegas May 7-10, and Loeffler will host a keynote and fireside chat focused on opportunity zones.
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About Caliber Headquartered in Scottsdale, Arizona with an investment focus in the Greater Southwest growth markets, Caliber leads the market in providing individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments.
> The Company offers an approachable, full-service investment experience with more than 1,500 team members working to care for over $750 million (assets under management & development) in commercial, residential, and hospitality real estate in AZ, CO, TX, NV, UT and AK.
> Caliber offers both asset management and real estate services to create a vertically integrated investment platform focused on middle-market investment transactions.
>The Company is currently offering four distinct private real estate funds, two focused on income and two focused on growth, with the most notable being a $500m equity offering in the Southwest as a qualified opportunity zone investment fund.
Learn more at Caliberco.com or follow Caliber on social @CaliberCo.
Note To Investors
This Press Release Is Provided Solely For Information Purposes And Does Not Constitute Legal Or Investment Advice.
This Is Neither An Offer To Sell Nor A Solicitation Of An Offer To Buy Securities.
While We Endeavor To Keep The Information Up To Date And Correct, We Make No Representations Or Warranties Of Any Kind, Express Or Implied, About The Completeness, Accuracy Or Reliability Of The Data And Summaries Contained In This Press Release Or The Suitability Of Any Separate Offering For Investors.
There Are Risks Associated With Any Investment.
In Making An Investment Decision, Investors Must Rely On Their Own Examination Of The Company They Wish To Invest In Including The Merits And Risk Involved.
Any Forward Looking Statement Speaks Only As Of The Date On Which Such Statement Is Made, And We Undertake No Obligation To Update Any Forward Looking Statement To Reflect Events Or Circumstances After The Date On Which Such Statement Is Made.
Please Contact Caliber Directly At 480-295-7600 For Further Information.
