Driftwood, a Miami based private firm specializing in hotel assets, is leaving its footprint on Fort Lauderdale with the launch of its Opportunity Zone project – a 218-room, dual-branded hotel called Home 2/Tru by Hilton. They recently launched their first Qualified Opportunity Fund, Driftwood QOF with a target raise of $50M.
If you’ve received gains from hedge funds and partnerships in 2018, per US Dept of Treasury Rules, you have until the end of June 2019 to reinvest your gains in Opportunity Zones. Individuals who reinvest money in Opportunity Zone funds by the end of 2019, will receive a 15% reduction on taxes.
For more info on Opportunity Zones, and assistance bringing your project to one of the zones, contact Candy Yeung of Florida Commercial Real Estate Group of Re/Max Commercial Realty Consultants I at 954.681.3737 or info@FLCreGroup.com.
As a full-service commercial advisory team, Florida Commercial’s services are tailored to provide Opportunity Zone investors with the resources and support needed to procure property and successfully launch their projects. Some of our services include:
- Advanced Market Analysis
- Feasibility Analysis
- Risk Analysis & Mitigations
- Land & Community Development
- Negotiations
- Corporate Services Representation
- Green Building
- 1031 Tax Deferred Exchange
- Landlord Representation
- High tech marketing
- Property and Asset Management, and more
- Acquisitions & Portfolio Disposition
- Investment Sales
- GSA Federal Sales & Leasing
