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Formation of Opportunity Zone Fund for $500 Million Development

Community Developer

Representation of a community developer in the formation of a qualified opportunity zone fund, including preparation of fund documents and tax planning counsel, for its investment in the development of a mini-city in Melbourne, Florida. The $500 million project includes residential rental apartments, single family homes, a school, university dormitories, and office and retail shopping spaces.

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Richard M. Goldstein

Richard M. Goldstein

Partner, Private Wealth and Tax Team Chair
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Experience
Structured and negotiated acquisitions of Risk Retention Interests through a multi-billion dollar series of transactions subject to the U.S. Risk Retention Rule under Dodd-Frank, a new and complex securities rule developed to help reduce systemic financial risks. To finance certain of the acquisitio...
Experience

Representation of a real estate developer in the formation of three qualified opportunity zone funds for investment in a real estate project. Provided advice regarding opportunity fund loans and real estate investments.

Experience

Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Mi...

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