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Caliber’s Opportunity Zone Funds – Helping Rebuild America’s Communities
Caliber’s CEO Chris Loeffler recently wrote a blog post titled, “How Opportunity Zone Funds Drive Our Nation Forward.” The post details the company’s strategy to rebuild communities and businesses in America with opportunity zone investing.
• What is Caliber? Caliber, a six-time honoree of the Inc. 500|5000 “Fastest Growing Private Companies in America,” is a full-service, vertically-integrated real estate investment company providing access to sophisticated, private real estate investments. Caliber’s clients can passively invest in real estate through the company’s funds, such as The Caliber Tax Advantaged Opportunity Zone Fund, LP.
• What are opportunity zone funds? Opportunity zones, which were first conceived in 2018, are defined as “economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment.” Caliber’s Opportunity Zone Fund not only provides diversified exposure to real estate and the potential for tax benefits, but it also helps invest in America’s local communities.
• How is this progressing in practice? For example, the Phoenix Medical-Behavioral Hospital, an abandoned assisted living facility, is now being transformed to a 96-bed, acute care behavioral health hospital. When complete, this will not only add healthcare jobs to the area, but also provide more accessible care to patients in need. This $22 million opportunity-zone funded project was recently featured in the White House OZ Best Practices Report.