Derek UldricksThe floodgates opened when the US Treasury Department released long-awaited proposed rules regarding the Opportunity Zones established under last year's tax overhaul earlier this year.
“Investor interest has been, we'll call it insatiable,” says Derek Uldricks, president of Virtua Capital Management, which launched one of the first Opportunity Zone funds earlier this year, even before the proposed clarifications were released.
Since the proposed rules' release, there has been a massive uptick in investment, he reports. He breaks the investors into three groups, two of which are largely motivated by the Opportunity Zones' generous tax incentives.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
