NEW YORK (June 6, 2019) – Duval & Stachenfeld LLP – The Pure Play in Real Estate Law® – announces that it represented Halpern Real Estate Ventures in a first closing of its Opportunity Zone real estate vehicle. The vehicle is unique in being the first sponsor capital fund solely targeting Opportunity Zone investments.
Halpern Real Estate Ventures Sponsor Capital Fund II (“SCF II”) is led by Jon Halpern.
Jon Halpern expressed enthusiasm for the Opportunity Zone program, saying, “We believe it will provide a game-changing catalyst for driving substantial investment and business activity in markets where we have historically operated.” He went on to add: “In addition to the fund, we are excited about our first Opportunity Zone investment closing taking place over the next few weeks on a development in Denver. We also intend to target Opportunity Zone investments in the Northeast and other select high growth markets through 2019.”
Managing Partner and Real Estate Chair, Terri Adler, and real estate partner, David Horn from Duval & Stachenfeld LLP handled the transaction.
D&S has developed extensive expertise around opportunity zones and its implications for both (i) the real estate industry and (ii) the non-real estate world. As an industry leader in the space, D&S is representing a large number of clients developing Opportunity Zone investment strategies, including clients investing in funds, raising their own funds, and moving forward with actual real estate transactions. The Opportunity Zone Team is on top of the tax and real estate issues and regularly posts Road Maps and updates (please click here to read)
Duval & Stachenfeld (the “Firm”) is known for regularly handling the most complex and sophisticated real estate transactional work throughout the United States and globally as well. With approximately 45 full-time real estate attorneys, the Duval & Stachenfeld Real Estate Practice Group has one of the largest real estate law practices in New York City. The Firm distinguishes itself with its pure play focus on real estate law. For more information, please visit www.dsllp.com.
Kristen McMaster, Director of Marketing
Duval & Stachenfeld LLP
Ph: (212) 672-3786[email protected]