Opportunity Zones

Fore recently secured a $49.6 million loan to develop the property from BBVA.

NAI Legacy partnered with Minneapolis-based The Beard Group as the developer, Minneapolis-based Steven Scott Management for day-to-day property management of the building and Minneapolis-based CliftonLarsonAllen Wealth Advisors who assisted in capital raising efforts.

Critics say the law should redefine distressed areas and prevent investments in casinos, stadiums, luxury hotels, student housing, storage facilities and high-end housing from qualifying for the tax breaks.

Stock market sellers might be realizing capital gains without having a specific tax plan for the increase they just realized.

The property, located in a qualified opportunity zone in the Bergen-Lafayette neighborhood, was sold by a partnership between Alpine Development, Fields Development Group and Grade Development Co.

Walker & Dunlop arranged the loan through the US Dept. of Housing & Urban Development's new construction program.