HAUPPAUGE, N.Y.—April 4, 2019—Ultimus Fund Solutions® (Ultimus®), today shares insights from a panel of private equity real estate subject matter experts held during a recent industry event they hosted. The panel, “An Introduction to Opportunity Zones,” was moderated by Susan Barreto, Editor at Large, HFM Global, and featured pertinent industry perspectives from Kurt Koegl, Partner, Marcum LLP; Joseph B. Darby III, Esq., Partner, Sullivan & Worcester LLP; Ben Armour, Partner, Sullivan & Worcester LLP; and Skyler Steinke, Senior Vice President of Business Development, Ultimus. The panel members discussed the investment implications of the latest IRS announcements about tax advantages, and outlined some of the ways fund managers are entering the opportunity zone space.
“The real estate market is getting more and more excited about the tax incentives provided by the new opportunity zone tax provisions,” said Mr. Darby. “However, there are many moving parts to structure an opportunity zone investment, and the IRS regulations and guidance continue to evolve. As a result, working with a team of advisors who are committed to these initiatives and work seamlessly together is crucial.”
Mr. Koegl added, “Timing is key for investors and funds. From the day an investor earns a capital gain, they have 180 days to contribute cash to a fund, and then the fund has to acquire an investment property and has 31 months to deploy capital for required improvements. Roundtable discussions like this one are vital for educating investors and managers alike on how to succeed in this area of the market.”
From an investor perspective, the positive attributes of opportunity zone investing outlined during the event included the ability to effect social growth while deferring tax liabilities. The panel also covered some benefits that fund managers and real estate developers can receive, such as greater interest from investors and an ability to make an impact on their communities.
Mr. Steinke commented, “Crafting a go-to-market plan will be essential for managers, as the appetite from investors is heightened and the competition for their attention is intense. We are pleased to provide fund managers a roadmap they can use to navigate the qualified opportunity fund space.”
VIEW the video of the panel conversation, as well as videos of panel discussions on other relevant industry topics held during the same event, such as “What Will Allocators Focus on in 2019” and “How Funds are Leveraging Data-Driven Insights for Growth.”
READ the recent report from Private Equity Wire discussing a roadmap to setting up and operating a Qualified Opportunity Fund.
Ultimus Fund Solutions provides a highly customized and comprehensive suite of fund administration services for investment advisers. Our high-quality services include integrated solutions that support the launching and servicing of mutual funds, hedge funds, ETFs, private equity funds, real estate funds, venture capital funds, variable annuity trusts, state-sponsored 529 plans plus the unique needs of pensions, endowments, and foundations.
Our offering comes with a deep commitment to excellence, achieved through investments in both talent and technology, with constant focus on maintaining our consultative approach and boutique service culture. Ultimus stands out as an award-winning, trusted business partner by helping investment advisers and fund families navigate and flourish in today’s increasingly sophisticated and dynamic industry landscape. Ultimus’ comprehensive service solutions are provided by seasoned teams of professionals with a wealth of financial services experience. For more information, visit www.ultimusfundsolutions.com.
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