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Normandy raising $250M ‘Opportunity Zones’ fund

Hottest way to raise money nowadays

Normandy’s President David Welsh (Credit: Normandy)

Normandy Real Estate Partners is joining the ‘Opportunity Zones’ real estate frenzy. The firm is raising a $250 million fund for the strategy, according to Bloomberg.  

What it means: Opportunity zones are designed to encourage investments in low-income communities (8,700) throughout the U.S. Firms like Goldman Sachs, EJF Capital, and RXR Realty are also raising funds of their own. 

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.

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