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Foundation Capital Partners Closing on Acquisition of First Opportunity Zone Investment

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Foundation Capital Partners Rendering
NEW YORK - Nov. 8, 2018 - EntSun -- Foundation Capital Partners (FCP), a private real estate investment management firm based in New York City, anticipates closing on the acquisition of its first Qualified Opportunity Zone Fund acquisition by the end of the 2018 calendar year.  This initial investment is a ground-up development of a 350,000 square foot distribution center.  "This acquisition represents a rare opportunity to develop an institutional-quality industrial asset within one of the most dynamic industrial markets in the United States," said Nate Dickey-White, a Vice President at FCP. "Since putting this opportunity in contract, we've had strong leasing interest from prospective tenants from major online retailers, food distribution companies and specialty industrial users."  FCP continues to procure capital commitments from qualified investors for its industrial focused Qualified Opportunity Zone Fund Platform.

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FCP focuses on disruptive macro real estate investment trends with a specific focus on e-commerce distribution centers.  As e-commerce sales continue to grow at rates of 15-20 percent per year, and delivery times continue to tighten, FCP maintains strong conviction in pursuing opportunities related to e-commerce logistics.  This trend has resulted in an overall increase in demand for industrial assets including the development of new supply in strategic markets.

An Opportunity Zone Fund is a new investment vehicle created as part of the Tax Cuts and Jobs Act of 2017 to incentivize investment in targeted communities called Opportunity Zones.  Opportunity Zones are census tracts, nominated by state governors and certified by the U.S. Department of the Treasury, into which investors can invest in new projects intended to spur economic development in exchange for certain federal tax benefits.  Opportunity Zone Funds enable investors to pool their resources in Opportunity Zones, increasing the scale of capital going to investments selected by an investment manager.  Opportunity Funds allow investors to defer federal taxes on any recent capital gains until December 31, 2026, reduce that tax payment by up to 15%, and pay as little as zero taxes on potential profits from an Opportunity Zone Fund if the investment is held for at least ten years.

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About Foundation Capital Partners

Foundation Capital Partners is a private investment management firm focusing on real asset opportunities.  To achieve attractive returns for its investors, the firm focuses exclusively on opportunistic and disruptive investment situations.  The firm has extensive experience investing in public and private credit and equity markets across the United States.  To learn more about the firm please visit www.foundationcapital.us.

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Source: Foundation Capital Partners
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