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Funds Flood OZs As Program Faces Possible Rule Changes


Funds Flood OZs As Program Faces Possible Rule Changes
The tax policy adjustments proposed by President Joe Biden in April as part of the administration s $1.8 trillion spending package included plenty of potentially bad news for commercial real estate.
For now, the industry is most focused on changes like a hike in the effective tax rate for high earners, the end of tax breaks on carried interest, and curbing the benefits of 1031 exchanges.
But there was one remaining bright spot for CRE. The major tax break offered by opportunity zones still isn t slated for elimination or reduction. And while the administration is still mum on its plans for OZs, the program s exclusion from that list of tax adjustments has caught the attention of investors, according to OZ experts. ....

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Shopoff Realty Investments Acquires Three Manufactured Housing Communities with 611 Lots in North Central Illinois


Shopoff Realty Investments Acquires Three Manufactured Housing Communities with 611 Lots in North Central Illinois
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IRVINE, Calif., April 19, 2021 /PRNewswire/ Shopoff Realty Investments ( Shopoff ), a national manager of opportunistic and value-add real estate investments, announced today that the company has acquired a 611-lot, three property portfolio of manufactured housing communities in North Central Illinois. The three properties include Oak Creek Estates located in the City of Bourbonnais, Lincoln Terrace located in the City of Lincoln, and Belle Aire located in the City of Marseilles.
The large number of lots will allow immediate economies of scale for the operations of the communities, explained Shopoff Realty Investments President and Chief Executive Officer William Shopoff. This is Shopoff s second purchase of a mobile home community in recent years, and we have found this type of asset to o ....

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