Latest news with #OpportunityZone
Yahoo
3 days ago
- Business
- Yahoo
MHR Capital Group Breaks Ground on AC Hotels by Marriott in Kennewick, Washington
BELLEVUE, Wash., May 29, 2025 /PRNewswire/ -- MHR Capital Group, a Bellevue-based private investment firm focused on strategic real estate and private equity ventures, has announced the groundbreaking and commencement of construction on a new AC Hotels by Marriott in Kennewick, Washington. Developed in partnership with A1 Hospitality Group and Fowler Construction, this project represents a significant new hospitality asset in the Tri-Cities region. This project is a part of a public/private partnership in conjunction with the City of Kennewick's expansion of the Three Rivers Convention Center (TRCC). The new AC Hotel will be physically connected to the expansion, enhancing the area's ability to attract regional and national events and significantly boosting local economic activity. The project is structured as a Qualified Opportunity Zone Business, providing investors with significant long-term tax advantages under the Opportunity Zone program established by the 2017 Tax Cuts and Jobs Act. The debt portion was financed by Idaho Central Credit Union (ICCU) via Bellevue Capital Group (BCG). "This investment reflects our disciplined focus on high-quality developments in growth markets," said Kamran Hasan, Founder and CEO of MHR Capital Group. "By partnering with experienced operators and local stakeholders, we're able to deliver a differentiated hospitality experience while creating long-term value for our investors and the communities we serve." The AC Hotel brand, part of the Marriott International portfolio, is known for its modern design, upscale amenities, and appeal to both business and leisure travelers. The Kennewick property will provide a high-end hospitality option in a fast-growing region with strong demographic and economic fundamentals. In addition to the hotel, MHR Capital Group will soon be opening the investment opportunity for Phase 2 of the masterplan, which will include over 550 residential units and more than 200,000 square feet of retail space. These assets are also located within the Opportunity Zone and offer the same tax-advantaged structure for qualified investors. Founded in 2011, MHR Capital Group targets high-growth, undercapitalized markets across the U.S. through a disciplined, fundamentals-driven investment strategy. The firm focuses on generating risk-adjusted returns through value-add real estate and lower middle-market private equity transactions, often in partnership with best-in-class local operators. MHR Capital has a successful track record of identifying off-market opportunities and creating long-term value for investors by combining operational expertise with a deep understanding of local market dynamics. The Kennewick development highlights MHR Capital's ongoing commitment to driving meaningful economic impact while delivering strong financial outcomes for its investment partners. For more information, please visit or contact: Media Contact:Sofia De La CruzInvestor RelationsEmail: IR@ 425-800-6208 ext 102Website: View original content to download multimedia: SOURCE MHR Capital Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
MHR Capital Group Breaks Ground on AC Hotels by Marriott in Kennewick, Washington
BELLEVUE, Wash., May 29, 2025 /PRNewswire/ -- MHR Capital Group, a Bellevue-based private investment firm focused on strategic real estate and private equity ventures, has announced the groundbreaking and commencement of construction on a new AC Hotels by Marriott in Kennewick, Washington. Developed in partnership with A1 Hospitality Group and Fowler Construction, this project represents a significant new hospitality asset in the Tri-Cities region. This project is a part of a public/private partnership in conjunction with the City of Kennewick's expansion of the Three Rivers Convention Center (TRCC). The new AC Hotel will be physically connected to the expansion, enhancing the area's ability to attract regional and national events and significantly boosting local economic activity. The project is structured as a Qualified Opportunity Zone Business, providing investors with significant long-term tax advantages under the Opportunity Zone program established by the 2017 Tax Cuts and Jobs Act. The debt portion was financed by Idaho Central Credit Union (ICCU) via Bellevue Capital Group (BCG). "This investment reflects our disciplined focus on high-quality developments in growth markets," said Kamran Hasan, Founder and CEO of MHR Capital Group. "By partnering with experienced operators and local stakeholders, we're able to deliver a differentiated hospitality experience while creating long-term value for our investors and the communities we serve." The AC Hotel brand, part of the Marriott International portfolio, is known for its modern design, upscale amenities, and appeal to both business and leisure travelers. The Kennewick property will provide a high-end hospitality option in a fast-growing region with strong demographic and economic fundamentals. In addition to the hotel, MHR Capital Group will soon be opening the investment opportunity for Phase 2 of the masterplan, which will include over 550 residential units and more than 200,000 square feet of retail space. These assets are also located within the Opportunity Zone and offer the same tax-advantaged structure for qualified investors. Founded in 2011, MHR Capital Group targets high-growth, undercapitalized markets across the U.S. through a disciplined, fundamentals-driven investment strategy. The firm focuses on generating risk-adjusted returns through value-add real estate and lower middle-market private equity transactions, often in partnership with best-in-class local operators. MHR Capital has a successful track record of identifying off-market opportunities and creating long-term value for investors by combining operational expertise with a deep understanding of local market dynamics. The Kennewick development highlights MHR Capital's ongoing commitment to driving meaningful economic impact while delivering strong financial outcomes for its investment partners. For more information, please visit or contact: Media Contact:Sofia De La CruzInvestor RelationsEmail: IR@ 425-800-6208 ext 102Website: View original content to download multimedia: SOURCE MHR Capital Group Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
U.S. HUD Secretary views Opportunity Zones, partnering with Rep. Kelly for legislation
Opportunity Zones have become a significant tool for economic development in financially distressed areas across the United States, with Erie, Pennsylvania, emerging as a leader in this initiative. Introduced in the Tax Cuts and Jobs Act, Opportunity Zones provide capital gains tax incentives to investors who support projects in economically disadvantaged regions. Erie has attracted nearly $400 million in investments, showcasing its success as a model city for this program. Erie Co. Veteran Memorial Park construction will soon be complete U.S. Secretary of Housing and Urban Development Scott Turner highlighted Erie's community spirit as a key factor in its success, stating, 'Whenever you talk to the people of Erie, there's always a spirit of team.' U.S. Representative Mike Kelly emphasized the program's potential to create jobs and lift communities out of poverty, saying, 'This is going to create job after job after job which will create revenue that lift our communities out of the poverty that we're in.' Secretary Turner and Representative Kelly visited Erie to assess the progress of Opportunity Zone projects, touring sites like the 12th Street Corridor, Renaissance Center and Frontier Park. Secretary Turner emphasized the potential of Opportunity Zones to foster innovation and skill development, contributing to economic growth in distressed areas. PennDOT planning to demolish Girard bridge over I-90 Congress is considering extending and expanding Opportunity Zone legislation, which could further enhance its impact on communities like Erie. As Erie continues to lead in Opportunity Zone development, the city exemplifies how strategic investment can drive economic growth and community revitalization. All facts in this report were gathered by journalists employed by WJET/WFXP. Artificial intelligence tools were used to reformat from a broadcast script into a news article for our website. This report was edited and fact-checked by WJET/WFXP staff before being published. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
22-05-2025
- Business
- Yahoo
HOME-PRICE TRENDS IN OPPORTUNITY ZONES STILL FOLLOWING NATIONAL PATTERNS DURING FIRST QUARTER OF 2025
Price Gains Inside Opportunity Zones Targeted for Economic Redevelopment Settle Down Along with Broader U.S. Housing Market During Slow Winter Period IRVINE, Calif., May 22, 2025 /PRNewswire/ -- ATTOM, a leading curator of land, property data, and real estate analytics, today released its first-quarter 2025 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 3,558 zones around the United States with sufficient data to analyze, meaning they had at least five home sales in the first quarter of 2025. The report found that median single-family home and condo prices increased from the fourth quarter of 2024 to the first quarter of 2025 in 48 percent of Opportunity Zones around the country with enough data to measure. That happened as the national median price remained the same. Medians were up annually in 59 percent of Opportunity Zones during a time when the typical nationwide price went up 8 percent. As the U.S. housing market boom continued into in its 14th year, median prices grew more than 10 percent annually in close to half the Opportunity Zones analyzed. Those trends, in and around low-income neighborhoods where the federal government offers tax breaks to spur economic revival, extended a long-term pattern of home values inside Opportunity Zones closely tracking broader nationwide price shifts for at least the last four years. That scenario has held regardless of whether the housing market has seen small, moderate or robust gains. Despite prices continuing to rise in a majority of Opportunity Zone markets when measured year over year, the first-quarter trends again were mixed, with typical values again rising far more often in higher-priced zones than in the very lowest-priced neighborhoods. That continued to show more significant weakness at the very bottom of the U.S. housing market, suggesting that those areas are reaping the fewest benefits from rising home values and could be more vulnerable if the broader market surge stalls. Nevertheless, the latest patterns mark yet another sign that some of the most distressed communities in the nation are showing economic strength, or limited weakness, compared to other markets around the country. By several important measures, Opportunity Zones continued to enjoy even better price trends than the nation as a whole during the first quarter of 2025. For example, annual median price increases bested typical nationwide gains in a slightly larger portion of Opportunity Zones than elsewhere. "Home-value patterns inside Opportunity Zones remain pretty much in lock-step with the rest of the country, just as we've seen ever since we started looking at this niche of the market. From one to another, those very local markets remain volatile, with troubling signs in the very lowest-priced areas. But the big picture shows remarkable, and mostly positive, consistency," said Rob Barber, CEO for ATTOM. "This likely reflects the ongoing short supply of homes for sale across the country and rising prices, which pushes marginal buyers to roll the dice on locations with varying levels of economic distress." Barber added that "the home-buyer money flowing into these communities shows enduring potential for them to turn around, providing solid foundations for investors looking to use the Opportunity Zone incentives." Opportunity Zones are defined in the Tax Act legislation as census tracts in or alongside low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas that have 1,200 to 8,000 residents, with an average of about 4,000 people. Amid varying levels of economic challenges, typical home values across wide swaths of Opportunity Zones remained far below those around most of the nation in the early months of 2025. Median first-quarter prices inside 80 percent of the zones with enough data to measure stood below the U.S. median of $355,000. That was about the same portion as in other time periods since 2020. In addition, median prices remained less than $200,000 in almost half the zones. Considerable price volatility also continued inside Opportunity Zones, with median values either dropping or increasing by at least 5 percent in nearly three-quarters those locations from late 2023 to early 2024. That again likely reflected small numbers of sales in many zones. Still, when taken as a whole, the latest overall trends in Opportunity Zones still generally matched the nationwide path of home prices during the first few months of 2025. High-level findings from the report: Median prices of single-family homes and condos increased from the fourth quarter of 2024 to the first quarter of 2025 in 1,491 (48 percent) of the Opportunity Zones around the U.S. with sufficient data to analyze, while staying the same or decreasing in 52 percent. Measured annually, medians remained up from the first quarter of 2024 to same period this year in 1,762 (59 percent) of those zones. (Among the 3,558 Opportunity Zones included in the report, 3,120 had enough data to generate usable median-price comparisons from the fourth quarter of 2024 to the first quarter of 2025; 3,004 had enough data to make comparisons between the first quarter of 2024 and the first quarter of 2025). Both the quarterly and annual trends in Opportunity Zones matched patterns in other areas: median prices rose quarterly and annually in the same portion of census tracts outside of Opportunity Zones - 48 percent and 59 percent. Typical values were up more than 10 percent annually in 42 percent of Opportunity Zones, compared to 37 percent of neighborhoods outside the zones. However, in a continuing potential sign of trouble, median prices were up annually in only 47 percent of Opportunity Zones where homes commonly sold for less than $125,000 during the first quarter of 2025. Among states that had at least 25 Opportunity Zones with enough data to analyze during the first quarter of 2025, the largest portions of zones where median prices increased annually were in Indiana (medians up from the first quarter of 2024 to the first quarter of 2025 in 75 percent of zones), New York (72 percent), Missouri (70 percent), Colorado (69 percent) and New Jersey (65 percent). States where prices were up annually in the smallest portion of zones included Nevada (median prices up in 44 percent of zones), Washington (49 percent), Florida (49 percent), Iowa (52 percent) and Tennessee (52 percent). Of the 3,558 zones in the report, 1,097 (31 percent) had median prices below $150,000 in the first quarter of 2025. That was down from 34 percent of zones with sufficient data a year earlier and 57 percent five years ago. Another 556 zones (16 percent) had medians in the first quarter of this year ranging from $150,000 to $199,999. Median values in the first quarter of 2025 ranged from $200,000 to $299,999 in 24 percent of Opportunity Zones while they topped the nationwide first-quarter national median of $355,000 in just 20 percent. The Midwest continued in the first quarter of 2025 to have larger portions of the lowest-priced Opportunity Zone tracts. Median home values were less than $175,000 in 61 percent of zones in the Midwest, followed by the Northeast (42 percent), the South (39 percent) and the West (6 percent). Report methodologyThe ATTOM Opportunity Zones analysis is based on home sales price data derived from recorded sales deeds. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. ATTOM's analysis compared median home prices in census tracts designated as Opportunity Zones by the Internal Revenue Service. Except where noted, tracts were used for the analysis if they had at least five sales in the first quarter of 2025. Median household income data for tracts and counties comes from surveys taken by the U.S. Census Bureau ( from 2019 through 2023. The list of designated Qualified Opportunity Zones is located at U.S. Department of the Treasury. Regions are based on designations by the Census Bureau. Hawaii and Alaska, which the bureau designates as part of the Pacific region, were included in the West region for this report. About ATTOMATTOM powers innovation across industries with premium property data and analytics covering 158 million U.S. properties—99% of the population. Our multi-sourced real estate data includes property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, neighborhood and geospatial boundary information, all validated through a rigorous 20-step process and linked by a unique ATTOM ID. From flexible delivery solutions—such as Property Data APIs, Bulk File Licenses, ATTOM Cloud, Real Estate Market Trends—to AI-Ready datasets, ATTOM fuels smarter decision-making across industries including real estate, mortgage, insurance, government, and more. Media Contact:Megan Data and Report Licensing:949.502.8313datareports@ View original content to download multimedia: SOURCE ATTOM
Associated Press
06-05-2025
- Business
- Associated Press
The Pearl Fund Launches $500M Bitcoin Investment Fund with Zero Capital Gains Tax
NEW YORK--(BUSINESS WIRE)--May 6, 2025-- The Pearl Fund, a pioneering investment firm that launched the nation's first Opportunity Zone Business (OZB) fund and remains the industry leader in OZB investing, today announced the launch of the Pearl Bitcoin Fund (Pearl BTC)—a $500 million investment vehicle that eliminates capital gains tax on Bitcoin investments. This press release features multimedia. View the full release here: Brian P. Phillips, Managing Partner of The Pearl Fund and Forbes-ranked top 10 Opportunity Zone investor, leads the Pearl Bitcoin Fund's innovative approach to tax-free Bitcoin investing. With early adoption of Bitcoin dating back to 2013 and extensive expertise in OZ regulations, Phillips has created the nation's first zero capital gains tax Bitcoin investment vehicle. Led by Managing Partner Brian P. Phillips, a Forbes-ranked top 10 Opportunity Zone investor, the Pearl Bitcoin Fund combines the proven tax advantages of OZ investing with the significant growth potential of Bitcoin, enabling accredited, patient investors to eliminate long-term capital gains taxes on what has been the best-performing asset class of the past decade. 'One of Bitcoin's biggest problems is capital gains tax. We've solved that,' said Phillips. 'By applying our expertise in OZ regulations to Bitcoin investing, we've created a solution that lets investors harvest tax-free Bitcoin growth after a 10-year hold period.' Pearl BTC solves a major problem for Bitcoin investors: the tax burden when selling appreciated Bitcoin. With the Fund, investors who have recently realized capital gains can invest those gains into the Fund and defer taxes until 2026. The key benefit comes after holding for 10 years—investors can then withdraw their investment growth completely tax-free, something no other Bitcoin investment option offers, including the new Bitcoin ETFs. 'Pearl Bitcoin Fund creates access to attractive tax benefits while maximizing investment exit controls in the hands of its investors rather than the Fund manager,' added Paul Saint-Pierre, Chief Compliance Officer at The Pearl Fund. 'With the federal Opportunity Zone program scheduled to sunset at the end of 2026, Bitcoin-affinity investors, with an eye towards long-term tax and cash planning, should act now rather than adopt a 'wait and see' posture regarding pending federal tax legislation.' Institutional-Grade Security & Compliance Unlike speculative crypto funds, the Fund's Bitcoin investment holdings are audited and backed by institutional custodians. Additionally, the Fund's regulatory compliance program provides investors with the security and transparency needed for confident long-term Bitcoin investment. Additional benefits of the Pearl Bitcoin Fund include: Zero capital gains tax through tax year 2047 after satisfying the 10-year hold requirement A straightforward 'buy and hold' strategy focused on long-term value creation Generational wealth transfer benefits with no change in tax basis for inherited investments Build Generational Wealth, Tax-Free 'This isn't just another fund—it's potentially a game-changer for serious Bitcoin investors looking to build generational wealth,' Phillips added. Pearl BTC is available exclusively to accredited investors with a minimum investment of $250,000. The Fund leverages The Pearl Fund's established expertise in OZ investing, combined with Phillips' early adoption of Bitcoin dating back to 2013. The timing is particularly significant as the Opportunity Zone program is scheduled to conclude at the end of tax year 2026, creating additional urgency for investors seeking these unique tax benefits. For more information, contact [email protected]. About The Pearl Fund The Pearl Fund is a pioneering investment firm that combines the proven benefits of Opportunity Zone investing with high-growth assets. As the first and most recognized Opportunity Zone Business (OZB) fund, The Pearl Fund has helped investors unlock tax-free wealth creation through structured, long-term investments. The Pearl Fund was founded by Brian P. Phillips, a seasoned investor ranked in the top 10 OZ fund managers by Forbes. Visit for more. View source version on CONTACT: Media Contact: Alysha Light [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: BANKING CRYPTOCURRENCY ASSET MANAGEMENT PROFESSIONAL SERVICES SOURCE: The Pearl Fund Copyright Business Wire 2025. PUB: 05/06/2025 11:01 AM/DISC: 05/06/2025 11:01 AM
