USG Realty Capital and OZI Group have partnered to launch a multi-asset opportunity zone fund. The fund is unique in that it is investor-drive with a focus on asset management, rather than a developer-directed fund, as most opportunity zone funds are. The innovative structure comes with a wealth of benefits for investors looking to gain exposure to opportunity zone investment, along with all of the tax perks.
"Ours is an asset management driven platform versus a developer driven platform. Most opportunity zone investing platforms have developers with projects they are trying to fund," Greg Genovese, founder & CEO of USG Realty Capital, tells GlobeSt.com. "Conversely, our platform employs a best-in-class project due diligence filter with our own proprietary protocols in place where candidate projects and potential development partners are extensively reviewed and only if they meet all strict criteria are the projects offered to investors."
As a result, the projects in the fund undergo a rigorous vetting process. "We start with the idea that a development project must fit within our protocols as asset managers," says Genovese. "We have a great number of development partners now and all have not only embraced this concept, but have seen the benefits of partnering with us at the project level, which in turn allows them to concentrate on the project development only, while we focus on the fund equity raising, compliance, and oversight of the project."
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