Eagle OZ launches Eagle OZ Fund II and partners with Peak Capital Solutions
CHICAGO, April 26, 2022 /PRNewswire/ — OZ Eaglea Chicagoreal estate investment group, today announced the launch of Eagle OZ Fund II (the Fund), an opportunity fund that offers investors the opportunity to invest in a qualified opportunity area focused on building 444 multi-family apartments in Bronzeville area Chicago. Additionally, Eagle OZ announced its new partnership with Peak Capital Solutions.
“Following the success of our Eagle OZ Fund I, we are excited to launch Eagle OZ Fund II,” said Jamie Nahon, founder and president of Eagle OZ. “We believe the Fund is not only a means to positively impact and support the revitalization of Bronzeville, but also has the potential to provide investors with significant upside, as well as the benefit additional tax incentives from an Opportunity Zone. Additionally, we are excited 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 ChicagoBronzeville is a historically significant neighborhood that is currently experiencing massive revitalization efforts with over $10 billion in economic development and 55,000 new jobs are expected to be created in 2022. According to Crain’s company in ChicagoThe area’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 homeland of Nat King Cole, Gwendolyn Brooks and many more.
The Fund itself seeks to raise $50 million of equity for new construction of 444 multi-family rental units in Qualified Opportunity Zone tracks located throughout Bronzeville. An Opportunity Zone offers several potential tax benefits to investors, including the elimination of capital gains taxes and zero clawback.
“We are very pleased to partner with Eagle OZ,” said Brian Conneely, President, Peak Capital Solutions. “We look forward to supporting Eagle OZ with our full suite of services to maximize their fundraising efforts for Eagle OZ Fund II.”
Peak Capital Solutions is a third-party sales and distribution company that offers multiple solutions for sponsors looking to complement their capital raising efforts. Peak Capital structures its model to provide efficient use of resources to maximize fundraising efforts and minimize operating costs.
Brokers and Registered Investment Advisors can submit trades electronically through 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 one of two Most Impactful Project winners – a designation given to a project that focused on the greatest positive social impact – at the Opportunity Zone Expo in denver.
About Eagle OZ
Eagle OZ is led by a seasoned team of real estate professionals with a track record of successful residential real estate investments in the Chicago region. Eagle OZ directors have over 20 years of combined industry experience, including property procurement, construction, stabilization and management. Eagle OZ won the most impactful project at the Opportunity Zone Expo in 2021.
Contact:
Rebecca Cleary
Featured marketing communications
949.427.1462
[email protected]
SOURCE Eagle OZ
