New Orlando OZ Fund Looks to Invest in CRE in Central Florida
Investments in Orange, Seminole, Lake, Osceola and Volusia counties will be given first priority; though other investments across Florida could also be considered.
ORLANDO, FL—An Opportunity Zone that is targeting investment in undervalued or underperforming commercial real estate and early stage technology in Central Florida was launched earlier this week.
Opportunity Fund Management, LLC launched the OZ fund on Nov. 18 at a press conference at the University Club in Orlando. The Orlando Opportunity Fund’s real estate investment strategy is focused on acquiring undervalued or underperforming commercial real estate properties “ripe for repositioning and located in Central Florida Opportunity Zones.” Those investments could be retail, office, warehouse, storage, or multi-family properties. Ground-up development will also be considered based on the deal and circumstance, the firm states.
Real estate investments will range generally from $1 million to $5 million, which are typically above the reach of most individual investors, but often below the size desired for institutional investors. Investments in Orange, Seminole, Lake, Osceola and Volusia counties will be given first priority; though other investments across Florida could also be considered.
In terms of tech startups, the fund will seek investments in scalable early stage technology, technology-enabled, or other companies in Central Florida. Specific interest areas include enterprise software, SaaS, healthcare IT, hospitality tech, EdTech, IoT and smart sensors, data & analytics, media, and FinTech. In order to be considered for the Orlando Opportunity Fund, businesses will need to be located within a designated Opportunity Zone or be willing to relocate to an OZ.
The Orlando Opportunity Fund Management’s leadership team includes: John A. “Coop” Cooper, president of Startup Investments, founder of Halestreet Investments, a Florida-based early stage investment enterprise, licensed investment banker and former managing director of Microsoft Corporation in corporate development and strategy group; Vince Wolle, president of real estate investments, an experienced commercial real estate executive, broker and investor with more than 23 years of experience, averaging more than $40 million in commercial real estate brokering volume annually over the past 10 years; Donna Mackenzie, chief financial and operating officer, who has been involved in more than $90 million in startup and early growth investments and David Brim, chief strategy officer, founder of Orlando Entrepreneurs and a marketing strategist and entrepreneur turned investor focused on funding early stage companies and commercial real estate.
“We recognized that Opportunity Zones have the potential to catalyze inclusive economic growth by leveraging these tax incentives. Our fund differentiates itself by focusing on both commercial real estate and tech startups with the goal of providing investors the returns they would expect from real estate investments and the potential upside that startups can bring to their portfolio,” says Mackenzie.