NES Financial announced today that it has been contracted to provide its purpose-built Opportunity Zone Fund Administration Suite to Griffin Capital Company, a leading alternative investment asset manager with more than two decades of investment and real estate experience. Griffin Capital’s alternative investment solutions include non-listed real estate investment trusts (REITs), actively managed interval funds, tax-advantaged Delaware statutory trusts (DSTs), and an Opportunity Zone Fund.
The tax incentives associated with the Opportunity Zones (OZ) program are designed to encourage long-term investment into economically distressed areas across the country. Opportunity Fund investors receive immediate deferral of taxes on invested capital gains. Additional tax benefits accrue at 5-, 7- and 10-year milestones.
NES Financial will provide its award-winning administration solution to Griffin Capital Company in connection with its Opportunity Zone Fund and 1031 DST programs.
“NES Financial is the only administrator we’ve found with the broad specialty fund administration platform and expertise to support our many business lines. This made NES the clear choice when it came to Griffin’s third-party administration,” said Kevin Shields, Chairman and CEO of Griffin Capital.
Read the full press release by clicking here.
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