NES Financial has contracted to provide its purpose-built Opportunity Zone Fund Administration Suite to Veterans Investing — an Opportunity Zones Fund supported by a back-end educational platform that offers real estate training to disabled military veterans.
The tax incentives associated with the Opportunity Zones (OZ) program were created to encourage long-term investment into targeted economically distressed areas across the country, with tax benefits accruing to investors at 5-, 7- and 10-year milestones.
Veterans Investing is focused on developing residential properties within these Opportunity Zones — including low-income housing — supported by a network of military veterans trained by the organization to identify promising investments. Currently, Veterans Investing is working with a pilot group of just over 100 veterans.
The Fund’s first major investment agreement, on the order of a projected $50 million, was made in December with Cottage Home Communities, a Florida-based firm working to develop 500 live/work/play communities in 500 Opportunity Zones nationwide.
“When deciding who to trust with the Fund’s administrative requirements, NES Financial was the clear choice,” said Chris Fontaine, CEO of Veterans Investing. “In this new space, they’ve set the bar for OZ Fund best practices. Their comprehensive, transaction-level tracking and reporting capabilities are unmatched, and the security they provide is hugely important to our investors. Furthermore, they truly care about maximizing community impact.”
Read the full press release about Veterans Investing Opportunity Fund by clicking here.
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