Real estate investment management firm Pinnacle Partners has announced the closing of its 12th Qualified Opportunity Zone Fund (QOF), securing $90 million in investment.
The fund invested in four housing development projects. Two market-rate multifamily housing communities within the NFL Stadium District in Denver, Colorado and Nashville, Tennessee. 1 ready-to-use single-family home community in Avondale, Arizona. There is one build-to-rent townhome community in Charlotte, North Carolina.
“Although our 12th fund, this represents an entirely new chapter for Pinnacle Partners in that it is our first multi-asset fund,” said Leo Bakker, co-founder and managing partner of Pinnacle Partners. said. “On behalf of our investors, we identify what we believe to be institutional quality projects that are sourced through proprietary relationships and offer portfolio diversification in addition to substantial tax benefits. We are working to do so.”
The company is aggressively entering the market with its next QOF focused on build-to-rent opportunities in the Southeast, with three shovel-ready development projects as joint general partner with Trilogy Investment Company. It is specified.
