Baxon Capital Launches Opportunity Zone Fund for Southwest Florida
The Opportunity Zone program was created in 2017 and has been the subject of criticism that wealthy investors have benefited from the program.
A Florida-headquartered real estate investment management firm says it’s launching an investment fund exclusively committed to Opportunity Zone investments in the southwest part of the state.
Baxon Capital, a firm headquartered in Fort Myers and focused on commercial, residential and opportunity zone investments, made the announcement this week.
The fund will take advantage of the federal Opportunity Zone program, which gives tax incentives with the goal of bringing private investment to support development in lower income zones.
“With the establishment of its Opportunity Zone fund, Baxon aims to contribute to the region through investments that positively impact local communities while providing favorable investor returns,” the firm said when it announced the fund.
Jason Schwartz, CEO of the firm, says southwest Florida is a “highly attractive” area when it comes to real estate investment.
”This is our backyard, so we are particularly excited about the significant impact that Opportunity Zone investing with the right expertise can have in the region,” he said in prepared remarks.
Daniel Barres, CIO at the firm, issued a statement saying the firm’s Opportunity Zone fund should be the “perfect vehicle” to make good investments and give back to their community.
“We will fully leverage our already strong footprint and market expertise in the region to identify and develop the right opportunities,” he said in a statement.