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NES Financial to Administer Funds for Synergy Investment’s First Opportunity Zone Fund

Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration Solution to Synergy Investments. Synergy Investments is a full-service real estate investment firm based in Boston that has delivered a total weighted average IRR of 32% to institutional investors over the last 15 years.

The newly formed Synergy Investments Opportunity Zone Fund will invest in urban communities in the greater Boston area with access to major lines of transportation and in close proximity to amenities.

The Synergy Opportunity Zone Fund recently launched, and it is now accepting subscriptions from accredited investors. The significant tax incentives associated with the Opportunity Zones legislation are designed to encourage long-term investment into targeted economically distressed areas across the country. The benefits include: deferral of federal capital gains tax until the end of 2026, a reduction of up to 15% of the tax burden if held for 7 years, and the elimination of any capital gains tax on subsequent appreciation of the investment in the fund if held for 10 years.

“Synergy selected NES Financial as the independent third-party administrator for the fund in part because the solution will help us define, measure and report on the social and economic impact our investments are making in the community,” said David Greaney, President of Synergy Investments. “We were impressed with NES Financial’s professionalism and their knowledge of the OZ space —additionally, their investor portal creates a seamless and secure way to communicate with our investors.”

To learn more about Synergy’s first Opportunity Zone Fund, please read the full press release here.

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