Frenzy pace of fundraising continues
Youngwoo & Associates is looking to raise an opportunity zones fund. The developer joins RXR and Shorewood Real Estate Group as they seek to take advantage of the new tax law.
What it means: Opportunity zones are designed to encourage investments in low-income communities (8,700) throughout the U.S.
The play: The opportunity zone provision allows people to defer paying capital gains taxes until 2026 if they roll their investment gains into such funds. If they hold their new assets for at least a decade, investors will avoid paying taxes on any further appreciation.