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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 Buys Illinois MHC Portfolio


Shopoff Realty Investments Buys Illinois MHC Portfolio
Totaling 611 lots, this is the company s second manufactured housing acquisition in recent years.
Apr192021
Photo courtesy of Shopoff Realty Investments
Shopoff Realty Investments has acquired a 611-lot manufactured housing community portfolio in Illinois. The collection comprises Oak Creek Estates in Bourbonnais, Ill., Lincoln Terrace in Lincoln, Ill., and Belle Aire in Marseilles, Ill. The new owner intends to implement improvements at the assets, streamline operations and address the 112 lots currently vacant across the portfolio.
Oak Creek Estates is located at 1317 N. Arthur Burch Drive, roughly 4 miles from Interstate 57 and 56 miles from downtown Chicago. Completed in 1950, the 345-lot asset is the largest of the three communities. Roughly 30 percent of the homes are community-owned. ....

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