NES Financial has contracted to provide its purpose-built fund administration suite for Gateway Opportunity Funds’ first fund — a St. Louis-based Qualified Opportunity Fund that is making its first investment in the shovel-ready Lighthouse Landing on the banks of the Mississippi River in St. Louis, MO.
The tax incentives associated with the Opportunity Zones program were created to encourage long-term investment into targeted economically distressed areas across the country. Opportunity Fund investments offer investors temporary tax deferral, partial reduction of taxes on an investor’s realized capital gains, and total elimination of taxes on all capital gains due to the appreciation of the OZ investment. As a result, the OZ program has opened up enormous potential for developers and real estate investors looking to raise capital at attractive rates and deploy it to underserved communities across the country.
Gateway Opportunity Funds’ management plans to run an investor-focused and streamlined operation, with low costs/overhead and forecasted above-average investor return — while also achieving significant job creation and community improvement. The fund is now open and accepting investment.
Read the full press release by clicking here.
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