Media Coverage 10.23.20
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Pillsbury’s Qualified Opportunity Zones team advises fund managers, investors, developers, lenders and business owners to realize the full benefits of the new program enacted in December of 2017 by the Tax Cuts and Jobs Act. Our team has advised on numerous Opportunity Zone funds and transactions, including the structuring of over $1 billion in equity investments in Qualified Opportunity Funds.
Qualified Opportunity Zones are designed to encourage long-term investment in economically distressed communities designated by the 50 states and the U.S. territories in return for very attractive tax incentives and economic benefits. The benefits include the deferral of gain from the disposition of any type of assets when reinvested within a specified time into newly formed entities called Qualified Opportunity Funds, and the avoidance of certain gain on investments in Qualified Opportunity Funds.
Our multidisciplinary team includes attorneys from our Tax, Real Estate, Construction, Corporate & Securities, Environmental, Finance, Trusts & Estates, and Public Policy sections. We have a unique national geographic footprint to serve our clients. Our attorneys have decades of experience representing fund sponsors, institutional investors, developers, special purpose entities, nonprofits and lenders in community redevelopment projects throughout the United States. We can also provide guidance on combining Qualified Opportunity Zone opportunities with other incentive programs, including the low-incoming housing, historic rehabilitation, new markets and renewable energy tax credit programs and local, state and federal subsidies, and on real estate investment trusts.
We have the necessary know-how in real estate, fund formation, syndications, startups, tax advantaged investing, asset acquisitions and dispositions, construction and land use, property operations and management, bond financing, commercial financing, affordable housing and tax credits, high-net-worth investment, fiduciaries, green energy, innovation centers and business formation to expertly assist all Qualified Opportunity Zone participants in every phase of structuring, investment, development and operation.
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