BBG Launches Due Diligence Services For Opportunity Zone Projects

DALLAS, June 5, 2019 /PRNewswire/ -- BBG, one of the nation's largest and fastest growing commercial real estate due diligence firms, today announced that it has developed special expertise providing due diligence services for Qualified Opportunity Zone projects.

Opportunity Zones, created by the Tax Cuts and Jobs Acts of 2017, allow investors to defer federal tax payments on capital gains, which could result in billions of dollars in tax breaks for commercial real estate investment projects across the country.

The program, which is designed to spur redevelopment in decaying areas, has roughly 8,700 census tracts in designated Opportunity Zones.

While Opportunity Zones offer significant tax incentives for those investing in eligible properties, they also have unique due diligence requirements. BBG offers services for Opportunity Zones across all property types, such as:

Appraisal

• IRS-compliant appraisals forming opinions of fair market value, as is, on an annual, semi-annual or quarterly basis
• IRS-compliant appraisals of land (required for substantial improvement calculation for existing developments)
• IRS-compliant fair market rent opinions for businesses located in Opportunity Zones  

Assessment

• Environmental site assessments
• Property condition assessments for improved properties
• Zoning compliance

Advisory

• Funds holding these assets that should explore cost segmentation for accelerated depreciation
• Accounting-related valuation services, such as purchase price allocations

For more details on BBG services for Opportunity Zones, please contact Senior Managing Director C. Grant Griffin, MAI, at [email protected] or call (770) 777-6128.

About BBG
BBG offers comprehensive due diligence services including valuation, advisory, property assessment, energy services, and zoning. Headquartered in Dallas, the firm has 34 offices in key US markets and more than 2,700 clients. BBG has achieved a reputation for personal attention, on-time delivery and deep expertise in multi-family, office, retail and industrial sectors. For more information about BBG, please visit www.bbgres.com.

Media Contact
Marc Weinstein
Ascent Communications
(908) 967-9958
[email protected]

SOURCE BBG

Related Links

http://www.bbgres.com