Investment banking and securities firm makes equity investment in novel opportunity zone project
Clients Investment banking and securities firm
Jones Day advised an investment banking and securities firm in connection with an equity investment in a multifamily housing development. The property is located in a census tract designated as a "Qualified Opportunity Zone" under new tax code provisions, and the project is eligible for both Low Income Housing Tax Credits and Opportunity Zone benefits. This is one of the first Opportunity Zone investments under the new tax code and represents a novel combination of the new Opportunity Zone benefits and tax credits.