A rendering of the planned 218-key dual branded hotel Home 2/Tru by Hilton in Fort Lauderdale. A rendering of the planned 218-keydual branded hotel Home 2/Tru by Hilton in FortLauderdale.

MIAMI—Locally-based Driftwood Acquisitions and Developmentreports it has launched its initial opportunity zone fund with atarget raise of $50 million.

The new fund Driftwood QOF has already secured two opportunityzone investments—a joint venture for the development of a 218-keydual branded hotel Home 2/Tru by Hilton in Fort Lauderdale and theredevelopment of a 10-story office building in Wilmington, DE intoa 136-room IHG-branded urban hotel.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.