News May 29, 2019
Lenders Don't Care If Your Project Is In An Opportunity Zone
Madison Realty Capital’s Managing Principal & Co-Founder Josh Zegen sat down with Bisnow to talk about opportunity zone-related investments. Created by the Tax Cuts and Jobs Act of 2017, opportunity zones provide incentives for real estate investment in certain underserved neighborhoods, which Zegen says tends to bring “non-real estate investors to the mix,” making such investments attractive to private debt funds like MRC thanks to the wide pool of potential investors. Zegen calls Opportunity Zones an “added benefit” that might help tip MRC in favor of investing if the project “is on the line”, and points out that many projects already underway when the program began have recapitalized thanks to falling within an opportunity zone.