Opportunity Zones

NES Financial to Administer Salt Lake City Opportunity Zone Fund for Hatteras Sky

Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to Hatteras Sky — an experienced commercial real estate development firm specializing in Opportunity Zone, affordable, historic and conventional real estate development. The proposed development will feature the conversion of the Union Pacific train depot, [...]

The Long Game: Opportunity Zone Fund Formation Considerations and Planning for Success from Start to Finish

When forming an Opportunity Fund, from the very beginning, you need to be planning for each stage in an OZ investment’s life cycle: the capital raise, how and where to hold the invested capital, timely deployment, managing the assets, maintaining Opportunity Fund status by satisfying the various regulatory tests, and the exit — which for [...]

Why the Latest Opportunity Zone Reporting Bill Introduced is Another Win for Transparency

U.S. Senator Tim Scott introduced the IMPACT Act today, an expanded bill that would establish reporting requirements for the Opportunity Zones incentive. “It’s loud and clear that legislative momentum and interest around reporting requirements continues to grow by all sides of the aisle,” said Reid Thomas, EVP of NES Financial’s Specialty Financial Administration Business, which [...]

2019-12-10T13:54:20-08:00December 6th, 2019|Categories: Blog, Opportunity Zones|Tags: , , , , |

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 [...]

NES Financial to Administer New Mexico–Based Opportunity Zone Fund

Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to InvestNewMexico.us (INM), an Albuquerque/Santa Fe–based partnership focused on affordable and sustainable housing, agriculture, film, technology transfer and emerging media industries. “New Mexico is a very poor state, and our mission is to inspire New [...]

2019-12-10T13:57:32-08:00November 14th, 2019|Categories: Opportunity Zones, Press Release|

Why the Newly Introduced Opportunity Zone Reporting Bills are a Win for Transparency

Senator Ron Wyden introduced the “Opportunity Zone Reporting and Reform Act” this week, which would amend the Internal Revenue Code of 1986 to require to increase reporting for qualified opportunity funds. “Legislative momentum around reporting requirements continues to increase,” said Reid Thomas, EVP of NES Financial’s Specialty Financial Administration Business, which includes Opportunity Zone [...]

NES Financial Signs 50th Opportunity Zone Fund

NES Financial, a fintech company providing technology-enabled solutions for the efficient back- and middle-office administration of complex financial transactions, announced today that it has contracted to provide its 50th Opportunity Zone client with its purpose-built Opportunity Zone Fund Administration Solution. “NES Financial is a pioneer in the Opportunity Zone space, growing significantly since signing our first [...]

NES Financial to Administer Clean Energy Opportunity Zone Fund

Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to Greenwave, a collaboration and energy solutions service platform centered around energy conservation, renewable, and smart energy. Greenwave Opportunity Zone Fund seeks to help ensure clean water to residents in Opportunity Zones throughout the country. [...]

2019-12-13T13:44:18-08:00November 6th, 2019|Categories: Opportunity Zones, Press Release|

Insider Insights Series: The Real World Impact of Opportunity Zones

An NES Financial Opportunity Zones Webinar Wednesday, November 20, 2019 | 11:00 am PT It’s almost the end of 2019, and the Opportunity Zones initiative is thriving. How is your fund performing and what are the latest trends to help your business grow in 2020? In this free Opportunity Zones webinar, NES Financial and OZ [...]

Fund Administration and Technology: Continuing the Conversation From the Novogradac Opportunity Zones Fall Conference

Novogradac’s 2019 Opportunity Zones Conference in Chicago is one of the largest OZ events in the country where fund sponsors, developers, investors, accountants, lawyers and stakeholders attend to discuss and learn how to effectively invest in qualified opportunity zone funds. Our EVP Reid Thomas spoke about fund administration at this conference and one of the [...]