The Opportunity Zone program has the potential to substantially alter the U.S. investment landscape over the coming years.
SAN JOSE, Calif. (PRWEB) September 13, 2018
Last month, NES Financial introduced a purpose-built Opportunity Zone Fund Administration Solution to its lineup of award-winning financial administration services. Following this new service offering, the innovative fund administrator has now announced that it will host a webinar intended to address the game-changing nature of the Opportunity Zone program for investors, fund managers, issuers, developers, entrepreneurs and communities.
The Opportunity Zone (OZ) program was created last year under the umbrella of the Investing in Opportunity Act, which established capital gains tax incentives for long-term investments into economically distressed areas across the U.S. With over $6 trillion in unrealized gains held by U.S. taxpayers, the program opens up enormous potential for developers looking to raise capital at attractive rates and use it to acquire or improve business properties within the qualified zones.
The one-hour webinar, titled “Qualified Opportunity Zones: A New Economic Driver and Potential Source of Capital,” will be held on September 20, 2018, at 11 a.m. Pacific Time, and will be hosted by Reid Thomas, Executive Vice President at NES Financial. Registration is free of charge. In addition to providing a valuable overview of the program, this timely webinar will drill down to examine how Opportunity Zone Funds can serve as a potential new source of capital for EB-5 issuers.
“The recent changes in EB-5 funding velocity have put pressure on the traditional EB-5 issuer business model,” Mr. Thomas said. “In this new financial landscape, and given the similarities between the two programs — the overlap of Opportunity Zones with EB-5 Targeted Employment Areas, for example — we believe that OZ investment may present a welcome alternative source of development capital to EB-5 issuers.”
Thought leaders from across the industry will join Mr. Thomas in giving an overview of the Opportunity Zone program and explaining how it may benefit project developers looking to raise capital. They will present: the basics of the Opportunity Zone program (Novogradac); how to set up an Opportunity Zone Fund (Sadis & Goldberg); real-world case studies of OZ Funds (Community Development Corporation of Oregon and Sikari Luxe); and how EB-5 projects specifically can take advantage of the Opportunity Zone program (Jeffer Mangels Butler & Mitchell).
“The Opportunity Zone program has the potential to substantially alter the U.S. investment landscape over the coming years,” said Nicolo Pinoli, Partner at Novogradac and Company. “The program will likely open up significant funding streams to the designated zones, and in addition to local businesses, it has the potential to benefit qualifying developers.”
During the webinar, NES Financial will also showcase its new Opportunity Zone Fund Administration Solution, which is purpose-built to efficiently handle the complex tracking and reporting requirements of OZ funds. This Solution carries forward the best practice, long established in other industries, of enlisting an independent third-party fund administrator to ensure transparency, accountability and compliance in complicated financial markets.
About NES Financial
NES Financial is a Silicon Valley financial technology (FinTech) company providing technology-enabled solutions and services for the efficient back- and middle-office administration of complex financial transactions. Serving private equity, commercial real estate, and Fortune 1000 clientele, NES Financial offers industry-leading private equity fund administration, loan servicing, specialized EB-5 and Opportunity Zone Fund Administration, and 1031 tax-deferred exchange services. Our unwavering commitment to data security, operational redundancy, and compliance reporting is evidenced by 12 consecutive years of successful independent audits of our technology, processes, and financial controls. Today, NES Financial services over 190 funds, administers over $20B annually, and has worked with more than 675 EB-5 projects. For more information, visit nesfinancial.com.