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It's important that opportunity zone investments are fully vetted to identify risk factors, structured in ways that advance community development and quality of life, while providing an overall benefit to investors.
The respective properties were acquired through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding company, and a global institutional asset management firm. The properties will be leased back to the seller on a triple-net basis.
Located adjacent to the University of Texas campus in the center of the West Campus, the 18-story 674 bed class-A building was sold to Nelson Partners Student Housing at an undisclosed acquisition price.
Princeton Crossroads is the city's first mixed-use development, featuring future retail and restaurant locations, multifamily communities, offices and a city park, all promoting rare walkability in the area.
Fosun Hive Holdings completed its renovations of a 200,000-square-foot retail destination, where a new cinema and another fine dining venue are coming to the Financial District.