Eagle OZ Launches Eagle OZ Fund II, Partners with Peak Capital Solutions
CHICAGO, April 26, 2022 /PRNewswire/ -- Eagle OZ, a Chicago-based real estate investment group, announced today the launch of Eagle OZ Fund II (the Fund), an Opportunity Fund that provides investors with the chance to invest in a Qualified Opportunity Zone focused on the construction of 444-multifamily apartment rentals in the Bronzeville region of Chicago. Additionally, Eagle OZ announced its new partnership with Peak Capital Solutions.
"After the success of our Eagle OZ Fund I, we are very excited to launch Eagle OZ Fund II," said Jamie Nahon, Eagle OZ's founder and president. "We believe that the Fund is not only a way to positively impact and support Bronzeville's revitalization, but it also has the potential to provide investors with great upside, along with the added benefit of an Opportunity Zone's tax incentives. Additionally, we are thrilled to have the opportunity to work with industry leaders like Peak Capital Solutions. This new partnership will allow us to support more investors than ever before."
Located in the heart of Chicago, Bronzeville is a historically significant neighborhood which is currently experiencing massive revitalization efforts with more than $10 billion in economic development and 55,000 new jobs expected to form in 2022. According to Crain's Chicago Business, the region's recent five-year streak of new home sales is "unmatched", in a city where the average home price is nearly half of what it is in New York or Los Angeles. Additionally, Bronzeville plays an important role in African-American history as the birthplace of Black History Month and the one-time home of Nat King Cole, Gwendolyn Brooks and many others.
The Fund itself seeks to raise $50 million of equity for the new construction of 444-multifamily rental units in the Qualified Opportunity Zone tracks located across Bronzeville. An Opportunity Zone offers several potential tax benefits for investors, including the elimination of capital gains taxes and zero recapture.
"We are very excited to partner with Eagle OZ," said Brian Conneely, president, Peak Capital Solutions. "We look forward to supporting Eagle OZ with our full selection of services in order to maximize their fund-raising efforts for Eagle OZ Fund II."
Peak Capital Solutions is a third-party sales and distribution firm which provides multiple solutions for sponsors seeking to supplement their capital raising efforts. Peak Capital structures its model to offer an efficient use of resources in order to maximize fund-raising efforts and minimize operating costs.
Broker-dealers and registered investment advisors can submit electronic business through either the Altigo or 1776ing online platforms.
Eagle OZ's first Qualified Opportunity Fund, Eagle OZ I, is fully subscribed and currently has 24-units under construction. In 2021, Eagle OZ was named as one of two winners of the Most Impactful Project – a designation awarded to a project that emphasized the greatest amount of positive social impact – at the Opportunity Zone Expo in Denver.
Eagle OZ is led by a seasoned team of real estate professionals with a track record of successful residential property investments in the Chicago area. The principals of Eagle OZ have more than 20 years of combined industry experience, including the sourcing of property, construction, stabilization and management. Eagle OZ was the winner of the most impactful project at the Opportunity Zone Expo in 2021.
Contact:
Rebecca Cleary
Spotlight Marketing Communications
949.427.1462
[email protected]
SOURCE Eagle OZ
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