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    1. Home
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    4. Opportunity Zones

      Practices

    Opportunity Zones

    Opportunity zones have the potential to transform low-income communities, real estate investment, and business formation across the country. No one understands this powerful new tool better than we do.

    /Overview

    Created by Congress’s tax reform bill in 2017, opportunity zones are designated low-income areas where investors can realize attractive tax advantages. Using a Qualified Opportunity Fund (O-Fund), investors can acquire a stake in new or existing buildings, property, and businesses within these zones.

    O-Funds are useful in a range of projects, from redeveloping individual sites that were formerly power plants and factories to higher education institutions seeking to attract major donors for new or renovated campus-adjacent buildings. 

    Our Opportunity Zones team is comprised of more than 40 real estate, community development finance, tax, and corporate attorneys who can help clients with all aspects of O-Fund transactions. 

    We anticipate opportunity zones opening the door for high-impact investment in a variety of sectors, and we’re ready to help you capitalize on this future.

    /Representative experience

    • Developer of multifamily units Represented in acquisition of three properties located in opportunity zones in the Los Angeles area; properties will be redeveloped into multifamily developments resulting in a total of 700+ units of workforce, low-income, and market-rate rental housing
    • Creation of O-fund Assisted in the creation of O-Fund financing the redevelopment of theaters located within opportunity zones in New York and Massachusetts
    • Represented an affordable housing developer in O-Fund formation
    • National community development lender Represented in the mixed financing of a development located within an opportunity zone
    • City Advised on opportunity zone issues
    • Diversified holding company Represented in O-Fund formation
    • Investors Represented in creating opportunity funds for the capital gains from the sale of real estate property
    • Institutional lender Represented in the formation of an O-Fund

    /Recognition

    • Nixon Peabody has been named a Tier 1 National firm for Tax Law in the 2025 edition of Best Law Firms®.

    Our Team

    See Full Team
    • Bruce J. Baker

      Senior Counsel
      • Rochester
      • Office:+1 585.263.1232
      • bbaker@nixonpeabody.com
      Bruce J. Baker
    • Forrest David Milder

      Senior Counsel
      • Boston
      • Office:+1 617.345.1055
      • fmilder@nixonpeabody.com
      Forrest  David Milder
    • Sonia A. Nayak

      Partner / Office Managing Partner, Los Angeles
      • Los Angeles
      • Office:+1 213.629.6072
      • snayak@nixonpeabody.com
      Sonia A. Nayak
    • Rudy S. Salo

      Partner
      • Los Angeles
      • Office:+1 213.629.6069
      • rsalo@nixonpeabody.com
      Rudy S. Salo
    • Aaron J. Yowell

      Partner / Chief Innovation Officer
      • New York City
      • Office:+1 212.940.3161
      • ayowell@nixonpeabody.com
      Aaron J. Yowell
    • Meghan C. Altidor

      Partner
      • New York City
      • Office:+1 212.940.3021
      • maltidor@nixonpeabody.com
      Meghan C. Altidor
    See Full Team

    Insights And Happenings

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    • Event

      ABA Forum on Affordable Housing and Community Development Annual Conference

      May 21, 2025
    • Alert

      HUD proposes relaxed loan sizing standards for FHA-insured loans

      Oct 25, 2024
    • Press Release

      Nixon Peabody welcomes Community Development Finance partners Fred Miller and Andrew Rubin

      May 2, 2024
    View All

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