Opportunity Zones

There are 8,764 Opportunity Zones in the United States, many of which have experienced a lack of investment for decades. The Opportunity Zones initiative is not a top-down government program from Washington, but an incentive to spur private and public investment in America’s underserved communities by providing tax benefits to investors.

Opportunity Zones are economically distressed communities, defined by individual census tract, nominated by America’s governors, and certified by the U.S. Secretary of the Treasury via his delegation of that authority to the Internal Revenue Service.

Under certain conditions, new investments in Opportunity Zones may be eligible for preferential tax treatment. Opportunity Zones offer tax benefits to investors who elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund (QOF). Investors can defer tax on the invested gain amounts until there is an event that reduces or terminates the qualifying investment in the QOF (an “inclusion event”), or December 31, 2026, whichever is earlier.

Below are the current projects in our pipeline:

The Beam (Fort Trumbull)

• 203-unit multifamily development in New London, CT

• 100% Opportunity Zone qualified real estate

• Resilient demand due to long term Government manufacturing contract

• Superior location with harbor views

• Significant employment growth from adjacent General Dynamics Corp

Cadence on Canal (Canal Place)

• 176-unit multifamily development in New Haven, CT

• 100% Opportunity Zone qualified real estate

• Resilient demand due to Yale University and Science Park activity

• Superior location on Farmingham Heritage Trail through Yale campus

• Nearby employment at Science Park Innovation Hub and Labs

Albert Lea VA Clinic

• Veterans Clinic in Albert Lea, MN

• 100% Opportunity Zone qualified real estate

• Located in a busy section of Albert Lea along U.S. Route 65 – only 1 mile southwest of crossroads I-90 and I-35

• Largest employment sector in the area is health care followed by food service/agriculture

• Albert Lea is also known for its lakes which surround the city, and recreation including Myre-Big Island State Park

South Park Industrial, San Antonio, TX

• San Antonio region well suited to capture trade business directly on the primary route to Laredo and Mexico

• “Port of Laredo” approached the trade volume of Los Angeles and even surpassed it for the month back in March 2019

• New trucking laws passed boosting San Antonio as a prime location for US Distribution from Mexico

• South San Antonio is home to Toyota, who has a manufacturing plant which builds Tacoma and Tundra trucks, in the process of a $17 million upgrade

• Approval was also recently received for an additional $400 million expansion of this manufacturing center

• Building development/acquisition portfolio totaling 250,000 SF

Owens Las Vegas Self Storage

A new Class A, 158,000+ sq ft self-storage facility is under construction at 120 W Owens Ave, Las Vegas, NV 89106, developed in partnership with YourSpace America. Located in an Opportunity Zone near I-15, this state-of-the-art facility will feature approximately 1,189 units, addressing a high-demand area with limited, aging alternatives.

Key Details About 120 W Owens Ave Development:

Location: 120 W. Owens Avenue, Las Vegas, NV 89106.

Size: 158,783 Gross Building Area (GBA) / 116,255 Net Rentable Area (NRA).

Units: Approximately 1,189 units, featuring a Generation V design.

Visibility: Situated adjacent to I-15 with over 190,000 cars passing daily.

Status: Under construction with ARCO/Murray and YourSpace America.

Jackson Street Self Storage

Phoenix, AZ

±166,376 Self-Storage Facility

±1,299 SF Office Space

Four-story, podium-style, masonry and steel frame construction

Facade includes a mix of CMU, EIFS and Metal Panels

Exterior loading docks

Located in Downtown Phoenix with close proximity to Chase Field

Tucson Arizona Self Storage

Ground-up development of a 958-unit self-storage facility (to be managed by Public Storage) in Tucson, Arizona.

This new facility will be a state-of-the-art Generation V self-storage facility of institutional quality. The subject property in addition to being climate controlled, will offer a state-of-the-art security system that is professionally monitored for immediate video verification of the alarm and priority police response to any unauthorized intrusion.

The subject property is located in an Opportunity Zone at 980 W. Irvington Road, Tucson, Arizona 85714. This is in the heart of the SW Tucson trade area with excellent freeway frontage and visibility. When complete, the property will feature 130,249 GSF, a 958 SF office and 96,968 Net Rentable Area. Building permits and groundbreaking are anticipated in Q2 2025.

Upon completion, the subject property will be the most prominently located, and highest quality self-storage facility in the market. The superb freeway and retail shopping center location, combined with the under-supply in the existing market, and the growing population make the subject property an extremely compelling self-storage investment opportunity.