Shopoff Realty Investments has entered the opportunity zone game with the launch of its first opportunity zone fund. Launched earlier this month, Shopoff DLV QOZ has a capital raise goal of $200 million. While the opportunity zone fund will support the development of the $545 million Dream Las Vegas hotel on the Las Vegas Strip, the impetus was to support the firm's long-term outlook and growth strategy.

"Our purpose in bringing this opportunity to market was that it was an exceptional and unique investment that fit very well into our corporate strategy and long-term outlook, with the opportunity zone designation being an added benefit, but not the core reason," Bill Shopoff, president and CEO of Shopoff Realty Investments, tells GlobeSt.com. "We believe strongly that an investment must intrinsically be a good economic investment regardless of tax benefits, and only then, if it is a quality investment, should the tax benefits be considered."

The Dream Hotel in Las Vegas fit that bill. "The Dream Las Vegas development is in our opinion a remarkable project on many levels, including its location (on Las Vegas Blvd, 0.7 miles and an easy walk to Allegiant Stadium), operator (Dream, the premier lifestyle and entertainment brand), and design (at the forefront of a new wave of more intimate and personalized experiences in Las Vegas)," says Shopoff.