EJF Opportunity
Zone Strategy
Private Capital Making a Difference in Emerging Neighborhoods
Investing in OpZones May Defer and Reduce Current Capital Gains Tax and Eliminate Future Capital Gains Tax
Investments
The 2017 Tax Cuts and Jobs Act created a rare opportunity to reduce capital gains taxes by successfully investing in real estate developments in thousands of underfunded communities throughout the U.S. EJF’s expertise in regulatory-driven investment strategies and real estate investing makes it the partner of choice for investors who want to do well by doing good. Since 2018, EJF has committed to provide over $500 million of equity capital for over $1.6 billion of overall development projects across a number of asset classes including multi-family residential and logistics facilities.
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What is a Qualified Opportunity Zone?
- The federal “2017 Tax Cuts and Jobs Act” encourages private capital to invest domestically in designated underfunded communities called Qualified Opportunity Zones (QOZ). This Act allows deferral of capital gains and elimination of future capital gains tax on appreciation through investment in Qualified Opportunity Funds (QOFs), such as EJF OpZone I LP and EJF OpZone Fund II LP.
- There are more than 8,700 QOZs across the U.S.
What Are the Potential Tax Benefits?
The returns reflected herein are an illustrative example of the gross potential performance differential between an investment of capital gains placed in a qualified opportunity fund contrasted with an investment of available capital gains into a non-qualified investment. Assumptions include 10% performance returns at the project level, reinvested for a 10-year period. Assumes 23.8% federal and 5% state tax rates, respectively, on applicable long-term capital gains. There is no guarantee that results will be effected as described.
$69 divided by $152
Nothing in this presentation constitutes tax advice; investors should consult their own tax counsel or tax adviser regarding any tax issues regarding this investment. This chart illustrates a hypothetical investment under the present tax laws, which may change and thus affect the performance of this investment. Please see Important Disclosures on page 1 for additional details.
A capital gain of $100 invested in a Qualified Opportunity Fund (QOF) within the prescribed time period, returning a hypothetical 10% annually, could generate $213 after tax over 10 years as compared to $152 if tax were paid currently on the $100 capital gain and then the residual $61.
This is achieved by:
- A temporary tax deferral for capital gains reinvested in a Qualified Opportunity Fund. The Deferred gain must be recognized on the earlier of the date on which the QOF investment is sold or December 31, 2026.
- A permanent exclusion from Federal taxable income of capital gains from the sale or exchange of an investment in a Qualified Opportunity Fund, if the investment is held for at least 10 years. (note: this exclusion applies to the gains accrued from an investment in a QOF, not the original capital gain).
Investment Timeline
Current Portfolio
Project |
TYPE |
Market/Submarket |
State |
Size* |
Closing Date |
Delivery* |
| Moxy | Hospitality | Oakland/Uptown | CA | 172 Rooms | Q4 2018 | Complete |
| RiverPort Commerce Park | Industrial | Savannah/Hardeeville | GA/SC | 510 Acres | Q1 2019 | |
| RiverPort 1 | Industrial | Savannah/Hardeeville | GA/SC | 152,000 SF | Q4 2019 | Complete |
| RiverPort 2 | Industrial | Savannah/Hardeeville | GA/SC | 608,000 SF | Q1 2021 | Complete |
| RiverPort 3 | Industrial | Savannah/Hardeeville | GA/SC | 329,000 SF | Q3 2020 | Complete |
| RiverPort 4 | Industrial | Savannah/Hardeeville | GA/SC | 207,000 SF | Q1 2021 | Complete |
| RiverPort 5 | Industrial | Savannah/Hardeeville | GA/SC | 127,000 SF | Q1 2019 | Q3 2023 |
| RiverPort 6 | Industrial | Savannah/Hardeeville | GA/SC | 405,000 SF | Q1 2019 | Q3 2023 |
| RiverPort 7 | Industrial | Savannah/Hardeeville | GA/SC | 791,000 SF | Q1 2019 | Q1 2024 |
| Park Kennedy | Multifamily | Washington/Capitol Hill | DC | 262 Units | Q2 2019 | Complete |
| The Exchange | Multifamily | Jacksonville/San Marco | FL | 196 Units | Q2 2019 | Complete |
| Barlow | Multifamily | Jacksonville/San Marco | FL | 290 Units | Q2 2019 | Complete |
| San Marco Promenade | Multifamily | Jacksonville/San Marco | FL | 284 Units | Q2 2020 | Complete |
| Block 10 | Mixed-Use | Vancouver | WA | 110 Units / 85,000 SF | Q2 2020 | Complete |
| Coen & Columbia | Multifamily | Vancouver | WA | 202 Units | Q4 2020 | Complete |
| MetroCenter North | Multifamily | Nashville | TN | 375 Units | Q2 2021 | Q2 2024 |
| MetroCenter South | Multifamily | Nashville | TN | 377 Units | Q2 2021 | Q1 2026 |
| Eastborough | Multifamily | Jacksonville/San Marco | FL | 226 Units | Q3 2021 | Complete |
| Rafferty | Multifamily | Santa Ana | CA | 218 Units | Q4 2021 | Q2 2024 |
| The Jack on Beach | Multifamily | Jacksonville/San Marco | FL | 294 Units | Q1 2022 | Q3 2024 |
| Buckeye 21 | Industrial | Buckeye/Phoenix | AZ | 326,000 SF | Q1 2022 | Q3 2023 |
| River City Business Park | Industrial | St. Louis | MO | 454,000 SF | Q1 2022 | Q3 2023 |
| Henri | Multifamily | Phoenix | AZ | 313 Units | Q3 2022 | Q1 2025 |
*Projected as of 05/08/23
Portfolio includes investments in closed funds which may not be available to investors in EJF OpZone Fund II LP.
Moxy Hotel
Oakland, CA
A 172-key boutique hotel located in Uptown Oakland, Moxy is Marriott’s newest brand, catering to the unique desires of millennial travelers. The Moxy economic model is focused on efficiencies in terms of cost-to-build, own and operate, and maximum investment in revenue-generating amenities.
The hotel was completed in Q1 2021.
For more information click here*
Riverport
Savannah, GA
RiverPort presents a multi-phase development opportunity in one of the nation’s fastest growing industrial markets, driven by the fastest growing and 4th largest container port in the nation, the Port of Savannah.
For more information click here*
Park Kennedy
Washington, D.C.
The Park Kennedy development project is a 262-unit mixed-use, multifamily community with approximately 13,000 gross square feet of retail space located in the historic Capitol Hill neighborhood of Washington, D.C.
Park Kennedy was completed in Q1 2021 and is leasing units.
For more information click here*
The Exchange
Jacksonville, FL
The Exchange is a 4-story, 196-unit multifamily community in the vibrant San Marco neighborhood of Jacksonville, Florida.
The Exchange was completed Q2 2021 and is leasing units.
For more information click here*
San Marco Promenade
Jacksonville, FL
San Marco Promenade is a two-building 284-unit community in the vibrant San Marco neighborhood of Jacksonville, Florida.
San Marco Promenade was completed in Q3 2020 and is leasing units.
For more information click here*
Block 10
Vancouver, WA
Block 10 is a mixed-use project with 110 multifamily units, 79,000 gross square feet of office space in downtown Vancouver, Washington.
Block 10 is currently in design and permitting and expected to deliver in Q2 2022.
For more information click here*
Coen & Columbia
Vancouver, WA
Coen & Columbia is a two-building 202-unit community in downtown Vancouver, Washington.
Coen & Columbia was completed in Q4 2020 and is leasing units.
For more information click here*
Barlow
Jacksonville, FL
Barlow is a 4-story, 290-unit multifamily community in the vibrant San Marco neighborhood of Jacksonville, Florida.
Barlow is complete and currently leasing units.
For more information click here*
*Please note that while EJF believes the information to be accurate it has not independently verified or validated any of the statements made by the developers. Should you have any questions, please consult EJF.
EJF – A Trusted Partner
EJF’s investment platform, real estate expertise, regulatory knowledge, capital markets experience, partnerships and community bank network make it the partner of choice for investors seeking to benefit from QOZs.
Seasoned Team
- Founding members have worked together for 20+ years.
- EJF’s dedicated real estate team has 50+ years of cumulative experience.
Real Estate Investment Expertise
- Over $330 million of equity capital committed to Opportunity Zone investments.
- Extensive network of partners and relationships in the private equity real estate sector.
Regulatory Specialists
- DC Metro-headquartered team of professionals identifies regulatory catalysts and structural changes that produce investment opportunities.
Capital Markets Knowledge
- Identify and unlock value by leveraging capital markets knowledge and experience.
Established Partnerships
- Nationwide network of property owners and developers, construction and development lenders and real estate industry leaders.
- Partnerships have allowed EJF to establish a systematic process for evaluating real estate opportunities as well as sourcing off market investment opportunities.
Bank Network
- Active dialogue, investment and research in community banks.
- Network for opportunity zone transaction sourcing, diligence and local knowledge.
- Potential for financing efficiencies and incremental senior financing alternatives where there is Community Reinvestment Act (CRA) demand.
Firm & Investment Leadership
Manny Friedman*
Co-Chief Executive Officer &
Co-Chief Investment Officer
Neal J. Wilson*
Co-Chief Executive Officer &
Co-Chief Investment Officer
Jason M. Ruggiero
Senior Portfolio Manager,
Co-Chief Investment Officer
Asheel Shah*
Senior Managing Director,
Head of Real Estate Development
Regina Richardson
President,
Senior Portfolio Manager
Kevin Peterkin
Director,
Real Estate Development
Steve Stelmach*
Senior Managing Director,
Portfolio Manager
*Opportunity Zone Investment Committee Member.
Investor Relations & Business Development
William J. Walsh
Managing Director,
Head of Business Development
Luke Koczela
Senior Associate,
Real Estate Development
Nicolas P. Barquin
Managing Director
Business Development
Mr. Barquin joined EJF in 2018 and brings with him 18 years of financial services experience. Mr. Barquin is responsible for various business development efforts, focusing on building constructive relationships with existing and prospective investors. Prior to joining EJF, Mr. Barquin was a Director at Birch Grove Capital LP where he was responsible for marketing and investor relations across the firm’s global institutional investor base. Mr. Barquin was previously a Managing Director in the capital markets group at Colliers International, where he was involved in over $7.5 billion of capital markets transactions. He has also been a principal in investment funds and private equity transactions in the real estate, consumer products, and retail industries. Mr. Barquin began his career as an Associate at Eastdil Secured. Mr. Barquin holds an MS from Columbia University and BA from Trinity College with Honors.
Karli A. Waterman
Managing Director,
Head of Investor Relations
Ms. Waterman joined EJF in 2013 and oversees EJF’s investor relation efforts. In addition to overseeing all aspects of investors’ due diligence processes, Ms. Waterman is focused on building constructive relationships with investors while also serving as a liaison between the firm’s investors, portfolio management and operational teams. Ms. Waterman serves as co-chair of EJF’s ESG Committee. Prior to joining EJF, she spent 5 years at Gallagher Fiduciary Advisors as an Investment Analyst in the firm’s retainer consulting group and worked closely with the firms Taft Hartley Defined Benefit Plan and Defined Contribution Plan clients. She also previously worked as a Financial Reporting Assistant at HarbourVest Partners in Boston, MA. Ms. Waterman earned her BS in Business Administration with a concentration in Finance and minor in Accounting from Marist College in Poughkeepsie, NY.
Thomas B. Mayrhofer
Senior Strategic Advisor
Mr. Mayrhofer joined EJF in 2018 and has more than 15 years of experience in the financial services industry. Prior to joining EJF, Mr. Mayrhofer was a Partner and Managing Director at The Carlyle Group (“Carlyle”). In addition to holding the position of Chief Financial Officer of Carlyle's Corporate Private Equity Segment, Mr. Mayrhofer oversaw the operations of all of Carlyle's Real Estate and Natural Resource Funds and served on the Investment Committee for Carlyle's Buyout and Growth Capital funds. Prior to joining Carlyle, Mr. Mayrhofer worked at Arthur Andersen LLP. He graduated from The College of William & Mary with a BBA in Accounting and serves on the Advisory Board for William & Mary’s Accounting Programs.
Steve Stelmach
Senior Managing Director,
Portfolio Manager
Mr. Stelmach joined EJF in 2015 and is responsible for the analysis of U.S. and residential housing opportunities as well as assisting in the analysis of the insurance sector.
Prior to joining EJF, Mr. Stelmach spent 12 years at FBR as a senior analyst in the financial services research group. With over a decade of equity research experience, Mr. Stelmach has covered a broad array of companies and sectors throughout the financial services and housing industries, including government-sponsored entities, mortgage banking companies, small- and large-cap banks, homebuilders, mortgage and title insurance, broker-dealers and the single-family rental sector. Prior to FBR, Mr. Stelmach worked on the U.S. bank research team at UBS Securities LLC helping to cover mid- and large-cap banks. In 2013, Mr. Stelmach was recognized in The Wall Street Journal’s Best on the Street awards as the No. 2−ranked equity analyst overall in the U.S. and No. 1 analyst in the home construction and furnishings sector. Mr. Stelmach has also provided expert testimony before the United States House of Representatives regarding U.S. housing policy, as well as advising a number of government agencies on policies and regulations affecting both housing and capital markets. Mr. Stelmach received his BS in Finance from the University of Maryland, College Park.
Regina A. Richardson
President,
Senior Portfolio Manager
Ms. Richardson joined EJF in 2006 and is a member of the Executive Committee, EJF’s Risk Committee and ESG Committee.
Ms. Richardson serves as President of the firm and Senior Portfolio Manager of funds within the debt opportunities strategy. Ms. Richardson joined EJF as a trader focusing primarily on fixed income and derivative trading. She was later named Head of Trading, overseeing fixed income, equity, and other asset classes. Prior to joining EJF, she spent 15 years at FBR, most recently serving in the Alternative Asset Investment group. Previously, Ms. Richardson was a Vice President in FBR’s institutional sales group covering high yield accounts and an analyst in the Financial Institutions Investment Banking group. Ms. Richardson holds a BS in Finance from West Virginia University.
Neal J. Wilson
Co-Chief Executive Officer &
Co-Chief Investment Officer
Mr. Wilson is a founding member of EJF and serves as its Co-Chief Executive Officer and as a Co-Chief Investment Officer of EJF’s private markets products. In addition to serving as the Co-Chief Executive Officer for EJF, Mr. Wilson currently serves as the Chief Executive Officer of EJF Investments Manager LLC, the external manager to a closed-end fund listed on the London Stock Exchange. Mr. Wilson also serves as a member of EJF’s Risk Committee, Valuation Committee and ESG Committee.
Prior to forming EJF, Mr. Wilson served as a senior managing director for both the Alternative Asset Investments and Private Wealth Management groups at FBR. Prior to joining FBR, he was a senior securities attorney at Dechert LLP and a Branch Chief in the Division of Enforcement at the U.S. Securities and Exchange Commission in Washington, D.C. He served on the Boards of Trustees of Sidwell Friends School (Washington, D.C.) and Hood College for five and nine years, respectively. He chaired the endowment investment committee at Hood during his entire tenure on the Board and served on the endowment investment committee of Sidwell Friends for over 10 years. He also served as a member of the Board of Trustees for the Montgomery County (Maryland) Public Schools Employee Pension for nine years until 2013 and in 2014 received a Distinguished Service Award from Montgomery County for his contributions. Mr. Wilson served as Co-Chair and Honorary Chair, in 2014 and 2020 respectively, of the Bridges Gala for the Marriott Foundation for People with Disabilities' Bridges from School to Work Program. He received his BA from Columbia University and his JD from the University of Pennsylvania.
Anne H. Iyer
Managing Director, Investor Relations
Ms. Iyer joined EJF in 2008 and serves as a liaison between the firm’s investors, portfolio and operational teams.
Prior to joining EJF, she worked at UBS as an analyst in the Equity Traded Derivatives group. While at UBS, Ms. Iyer focused on trade management and reconciliations. Ms. Iyer earned her BS in Business Administration with a concentration in Economics from Fordham University.
Asheel Shah
Senior Managing Director,
Head of Real Estate Development
Mr. Shah joined EJF in 2018 and is a member of the Executive Committee. Mr. Shah is responsible for portfolio management activities for all real estate funds. Mr. Shah has overall responsibility for acquisitions, development, and asset management related activities. Mr. Shah has over 20 years of experience in the real estate industry. Prior to joining EJF, Mr. Shah was the President and Chief Investment Officer of the Multifamily Division at Kettler Inc. (“Kettler”), a real estate development firm based in the Washington, DC metropolitan area. Mr. Shah was chairman of Kettler’s investment committee. During his 11 years at Kettler, Mr. Shah oversaw acquisitions, asset management, development, construction, and was the primary point of contact for partner relationships. Prior to joining Kettler, Mr. Shah worked at Monument Realty and CarrAmerica Realty Corp. Mr. Shah earned his BS in Financial Management from St. Joseph’s University and an MBA in Corporate Finance from the University of North Carolina at Chapel Hill. He is an active member of the Urban Land Institute and serves on the Washington District Council Executive Committee.
F. Fuller O’Connor Jr.
Senior Managing Director, Head of Investor Relations
Mr. O’Connor joined EJF in 2009 and is a member of the Executive Committee. He is responsible for directing all communication with existing and prospective investor relationships.
Prior to assuming the role of Head of Investor Relations, Mr. O’Connor served as co-portfolio manager of the EJF Income Fund for over six years and currently acts as an advisor to the fund. Prior to joining EJF, Mr. O’Connor was Senior Managing Director and Head of Real Estate Investment Banking at FBR. Prior to FBR, Mr. O’Connor held senior real estate positions including: Managing Director at Cohen & Steers Capital Advisors and Managing Director at Prudential Securities Incorporated in the Real Estate Investment Banking Group. Mr. O’Connor has held senior positions in real estate at Chase Manhattan Bank, Chemical Bank and Trammell Crow Ventures. Mr. O’Connor holds a BS in Commerce from the University of Virginia.
Jason M. Ruggiero
Co-Chief Investment Officer,
Senior Portfolio Manager
Mr. Ruggiero joined EJF at its founding in 2005 and is a member of the Executive Committee. Mr. Ruggiero serves as the primary portfolio manager for EJF’s equity focused strategies as well as the Co-Chief Investment Officer for EJF’s capital markets products. Mr. Ruggiero also serves as a member of EJF’s Risk Committee and ESG Committee. Mr. Ruggiero currently serves on the Board of Directors of Arlington Food Assistance Center and formerly served on the Board of Directors of FB Corporation in St. Louis, MO and TIG Bancorp in Denver, CO. He also formerly served as a member of the JMU College of Education Executive Advisory Council. Prior to joining EJF, Mr. Ruggiero was an equity trader in FBR’s Alternative Asset Investment Group, where he assisted Mr. Friedman in the day-to-day operations of FBR Ashton, L.P., a long/short hedge fund. In 2004, Mr. Ruggiero assumed co-portfolio manager responsibilities for FBR Ashton, L.P. Before joining FBR, Mr. Ruggiero was an auditor for Deloitte and Touche in Washington, DC, where he focused on the financial services industry. He holds a BBA in accounting from James Madison University and an MBA in finance from the University of Maryland.
Prior to joining EJF, Mr. Ruggiero was an equity trader in FBR’s Alternative Asset Investment Group, where he assisted Mr. Friedman in the day-to-day operations of FBR Ashton, L.P., a long/short hedge fund. In 2004, Mr. Ruggiero assumed co-portfolio manager responsibilities for FBR Ashton, L.P. Before joining FBR, Mr. Ruggiero was an auditor for Deloitte and Touche in Washington, DC, where he focused on the financial services industry. He holds a BBA in accounting from James Madison University and an MBA in finance from the University of Maryland.
Kevin Peterkin
Director,
Real Estate Development
Mr. Peterkin joined EJF in 2018 and is responsible for market, site and development feasibility analysis and is the primary point of contact for developer oversight during the predevelopment, construction, and turnover phases of real estate portfolio projects. He has over 25 years of real estate industry experience.
Prior to joining EJF, Mr. Peterkin was a Director of Multifamily Development at Kettler Inc., where he focused on market feasibility, site feasibility, underwriting, due diligence and development project management. Mr. Peterkin received his BA and MA in Geography from the University of Illinois and an MS in Real Estate from John Hopkins University.
Mark Neely
Senior Managing Director,
Portfolio Manager
Mr. Neely joined EJF in 2011 and is responsible for the analysis and management of EJF’s high yield and event driven fixed income investments.
He has covered the firm’s bond insurance investments post the financial crisis and has been an internal and external lead for major bondholder restructurings for many of the firm’s fixed income investments. Mr. Neely has over 14 years of investment and mortgage finance experience focusing on structured product and synthetic/esoteric investment opportunities. Mr. Neely manages investments and teams across multiple funds and strategies, including EJF’s tactical opportunities strategy. Prior to joining, EJF he worked at Fannie Mae as a mortgage-backed securities trader and financial analyst where his role included trading mortgage-backed securities and pricing structured legacy portfolios. He currently holds a BA in Economics and an MBA from the University of Maryland.
Manny Friedman
Co-Chief Executive Officer &
Co-Chief Investment Officer
Mr. Friedman co-founded EJF Capital LLC (“EJF”), a global institutional alternative asset management firm that has been at the forefront of regulatory, event-driven investing in financials and real estate.
Over the course of his 40+ year career in capital markets and asset management, Mr. Friedman has structured and built numerous innovative investment strategies that have focused on some of the most powerful trends in the financial sector driven by regulatory change. Mr. Friedman has been viewed by some as one of the thought leaders for the Opportunity Zone program, and he has spoken on the topic in many industry forums.
Prior to forming EJF, Mr. Friedman was a founder and the former Co-Chairman and Co-Chief Executive Officer of Friedman, Billings, Ramsey Group, Inc. (“FBR”). At FBR, Mr. Friedman assisted in designing property and mortgage REIT vehicles. Throughout the 1990s, Mr. Friedman was active in building out FBR’s alternative asset management platform. He was instrumental in the creation of hedge, private equity and venture capital funds at FBR, and maintains an extensive network of contacts within the CDO, hedge fund and private equity fund communities.
Mr. Friedman received his BA in Education from the University of North Carolina at Chapel Hill and his JD from Georgetown University.
William J. Walsh
Managing Director
Head of Business Development
Mr. Walsh joined EJF in 2017 and brings with him 22 years of financial services experience. Mr. Walsh oversees EJF’s business development efforts and is responsible for building constructive relationships with existing and prospective investors. Prior to joining EJF, Mr. Walsh was a Managing Director in the Equity Sales Group at FBR for 18 years. While at FBR, Mr. Walsh served as a member of the Investment Committee that evaluated potential banking transactions and reviewed financial projections. While at FBR Capital Markets, Mr. Walsh was a senior member of the team responsible for raising approximately $22 billion of capital in over 70 private and public transactions since 2001. He previously worked on the trading floor of the Chicago Mercantile Exchange, focusing on Eurodollar futures. Mr. Walsh received his BA in Economics from the University of North Carolina.
News
EJF Capital and North Signal Capital Refinance RiverPort Building 4 at the RiverPort Commerce Park Near the Port of Savannah, GA
www.businesswire.com
EJF Capital and the NRP Group Close $61M Construction Loan for Hyattsville, Maryland Multifamily Development
www.businesswire.com
EJF Capital and North Signal Capital Close $75 Million in Construction Financing for Warehouses at RiverPort Commerce Park in Opportunity Zone
www.businesswire.com
EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Create 313-Unit Multifamily Community in Downtown Phoenix Opportunity Zone
www.businesswire.com
EJF Capital and Chance Partners Break Ground on 295-Unit Multifamily Community in Jacksonville, FL
www.businesswire.com
EJF Capital and Crimson Canyon Close $23.4 Million Construction Loan for a Warehouse in the Accelerating Phoenix Market
www.businesswire.com
EJF Capital and Chartwell Residential Close on $67 Million Construction Loan for Multifamily Development in Nashville, TN
www.businesswire.com
EJF Capital and Green Street Real Estate Ventures Partner to Develop Three Warehouse Buildings in St. Louis
www.businesswire.com
EJF Capital and Chance Partners Announce Plans for 295-Unit Multifamily Community in Jacksonville Opportunity Zone
www.businesswire.com
EJF Capital and Toll Brothers Apartment Living Announce Joint Venture to Develop Two-building, 218-unit Multifamily Community in Santa Ana, CA
www.businesswire.com
EJF Capital and Chance Partners Break Ground On 226-Unit Multifamily Community In Jacksonville, FL Opportunity Zone
www.businesswire.com
EJF Capital and North Signal Capital Complete $32 Million Construction Financing on Two Buildings at RiverPort Commerce Park in Opportunity Zone
www.businesswire.com
EJF Capital and Chartwell Residential Joint Venture to Develop Multifamily Apartments in Downtown Nashville Opportunity Zone
www.businesswire.com
EJF Capital, Chartwell to Invest $80M in Nashville OZ
www.multihousingnews.com
EJF Capital Raises Approximately $280 Million for Inaugural OpZone Fund
bizjournals.com
EJF Capital and Holland Partner Group Joint Venture to Acquire and Operate Two Buildings in Downtown Vancouver, WA
bizjournals.com
EJF Capital and Holland Partner Group to Develop 110-Unit Multi-Family, Mixed-Use Project in Downtown Vancouver, WA Opportunity Zone
bizjournals.com
Construction underway for San Marco Crossing apartments
jaxdailyrecord.com
EJF Capital and Chance Partners Acquire 284-unit Multifamily Housing Community in Jacksonville Opportunity Zone
bizjournals.com
Donatelli, Blue Skye Land Equity Partner for Hill East Opportunity Zone Project
bizjournals.com
Major Opportunity Zone Fund Invests in San Marco Crossing
bizjournals.com
Industrial park set for RiverPort
savannahnow.com
Exclusive: Tapping into opportunity zone, second Uptown Oakland hotel to break ground
bizjournals.com
Real estate investors see riches in a tax break meant to help the poor
bloomberg.com
Opportunity Zones offer powerful potential for investors and communities
forbes.com
Opportunity Zones are transforming places and people that have been capital starved for decades
thehill.com
Hogan to bolster “opportunity zones” with state investments
washingtonpost.com
Sen. Tim Scott Leads Bipartisan Effort Encouraging Treasury To Deliver On Opportunity Zone Rules Clarification
bisnow.com
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Disclosures
This information shall not constitute a solicitation or an offer to buy or sell any security or service, or an endorsement of any particular investment strategy. Nothing in this material constitutes investment, legal, or other advice nor is it to be relied upon in making investment decisions. Offering of funds managed by EJF Capital LLC (“EJF”) is made by private placement memorandum only.
Private funds may be deemed to be highly speculative investments and are not intended as a complete investment program. They are designed only for sophisticated investors who can bear the economic risk of the loss of their investment in a fund and who have limited need for liquidity of their investment. There can be no assurance that a private fund will achieve its investment objective.
It should be noted that a significant component of the investment opportunity described herein centers on rules and regulations relating to certain provisions of the United States internal revenue code, some of which are not finalized, and subject to change, and may not be applicable to certain investors. Nothing in this material constitutes tax, investment, legal, or other advice nor is it to be relied upon in making investment decisions. EJF does not provide legal or tax advice to investors. Prior to investing, prospective investors should consult with legal counsel and a tax adviser. We expressly disclaim any liability whatsoever for any loss arising from or in reliance upon the whole or any part of the content herein. The views expressed herein represent the opinions of EJF, and are not intended as a forecast or guarantee of future results.
The information herein may include statements of future expectations, estimates, projections, models, forecasts, scenarios, and other forward-looking statements (collectively “Statements”). The Statements provided are based on EJF’s beliefs, assumptions and information available at the time of issuance. As a result, all the information contained in this website, including the Statements, is inherently speculative and actual results or events may differ materially from those expressed or implied in such Statements. Therefore, this information, as well as the Statements, cannot be relied upon for any purpose other than the current illustrative one.
Certain information contained herein has been provided by outside parties or vendors. Although every effort has been made to ensure the information herein contained is, or is based on, sources believed by EJF to be reliable, no guarantee is made as to its accuracy or completeness. Accordingly, EJF has relied upon and assumed, without independent verification, the accuracy and completeness of all information available to it. EJF expressly disclaims any liability whatsoever for any loss arising from or in reliance upon the whole or any part of the content herein.
The information herein may include figures, statements, opinions, analysis, or other information (collectively, “Information”) that paraphrase, summarize, abbreviate, or are otherwise reductive to the complete set of facts and events that transpired. The Information provided are based on EJF’s beliefs, assumptions and information available at the time of issuance, and are subject to change. Accordingly you are encouraged to conduct your own independent review of the Information before making any investment decisions. EJF expressly disclaims any liability whatsoever for any loss arising from or in reliance upon the whole or any part of the content herein.
The Information and Statements presented in this website are not comprehensive of the investments and strategies referenced, and are solely for illustrative purposes. Therefore, this website, as well as the Statements and Information, cannot be relied upon for any purpose other than the current illustrative one.
EJF cannot guarantee that the investments and/or transactions described in this website will be purchased or effected as described. EJF clients may already own investments that advance or conflict with any strategies described herein. The specific securities identified and described in this website do not represent all of the securities purchased, sold, or recommended by EJF to the Fund, and the reader should not assume that investments in the securities identified and discussed were or will be profitable. This website shall not in any event be deemed to be complete and exhaustive information on the subjects covered.
The illustrative examples contained in this presentation attempt to portray the potential performance differential between an investment of capital gains placed in a qualified opportunity zone contrasted with an investment of available capital gains into a non-qualified opportunity zone. All examples assume a 10% annualized gross performance return at the investment level that is reinvested into the project for the life of the investment (2020-2028), federal long-term and short-term capital gains tax rates of 23.8% and a state capital gains tax rate of 5%. The models reflect current regulations, which require gains that have been previously deferred through an investment in a qualified opportunity fund, to be recognized on or before December 31, 2026. For ease of presentation and calculation, we have reflected this as a reduction in the value of the qualified opportunity fund investment in the returns portrayed. It should be noted rules and regulations surrounding qualified opportunity zones are subject to change and nothing in this material constitutes tax, investment, legal, or other advice nor is it to be relied upon in making investment decisions. EJF does not provide legal or tax advice to investors. Prior to investing, prospective investors should consult with legal counsel and a tax adviser.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS, WHICH MAY VARY
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Collection of Information
EJF collects your personal information when you invest in a product managed by the firm and complete account opening documents for an investment management agreement or a fund subscription form. We may also collect your personal information from credit bureaus and other forms completed by you.
What Information is Collected
The types of personal information we collect depend on the products or services you have with us. This information may include but is not limited to your: social security number, address, email address, age, home/cell phone numbers, assets, income information, and your net worth.
What We Do With Your Information
All financial companies need to share customers’ personal information to run their everyday business. In the sections below, we list the reasons financial companies can share their customers’ personal information; the reasons EJF chooses to share; and whether you can limit this sharing. EJF may share your personal information for everyday business purposes, such as to process your transactions, maintain your account(s), respond to court orders, subpoenas, legal investigations, and regulatory inquiries. Additionally, the firm may use your personal information to offer our products and services to you. We may also provide your personal information to our third party vendors to process transactions on your behalf or to address other issues related to your account.
Security of Client Information
To protect your personal information from unauthorized access and use, EJF restricts access to your personal information to those employees and third party vendors who must have the information to provide products and services to you. Additionally, EJF maintains physical, electronic, and procedural safeguards that protect your personal information. EJF’s agreements with third party vendors require that they respect the confidentially of your nonpublic personal information.
Can Client Limit All Sharing of Information
Federal and state laws give you the right to limit sharing of your information about your credit-worthiness with our affiliates; and affiliates and non-affiliates from using your information to market to you. We do not collect customer credit information.
Disclaimer
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE PERFORMANCE RESULTS. USERS OF THIS WEBSITE SHOULD BE ADVISED THAT THERE IS THE RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN BY INVESTING WITH EJF CAPITAL LLC.
Terms of Use
THE WEBSITE USER SHOULD READ THESE TERMS CAREFULLY BEFORE USING THE SERVICES DESCRIBED HEREIN. BY USING THIS SITE YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS AND THAT YOU AGREE TO BE BOUND BY THEM. AS A RESULT, YOU ARE AN AUTHORIZED USER (“USER”) OF THE INFORMATION LOCATED UNDER THE DOMAIN WWW.EJFCAP.COM (“WEBSITE”). IF YOU DO NOT AGREE TO ALL OF THE TERMS OF THIS AGREEMENT, YOU ARE NOT A USER AND ARE PROHIBITED FROM ACCESSING THE WEBSITE AS WELL AS VIEWING, DISSEMINATING OR USING THE INFORMATION CONTAINED THEREIN.
Modification of Terms
This Website is owned and operated by EJF Capital LLC (“EJF”). EJF reserves the right, in its sole discretion, to modify, change, add, or remove portions of these terms at any time. EJF suggests that the User of the Website periodically check these terms for modifications. Any changes, modifications, or additions to, or deletions from these terms shall be effective upon posting on this Website. If the User accesses this Website after EJF posts changes to the terms, the User accepts the terms as changed. EJF reserves the right to monitor any use of this Website. The terms can be accessed from the link at the bottom of the Website page.
Intended Audience
This information was prepared exclusively for the benefit and internal use of the party to whom EJF has provided it, and may not be published or disclosed, in whole or in part, to any other party. The information provided on the Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject EJF or its affiliates to any registration requirement within such jurisdiction or country.
Disclaimer
Nothing reflected on this Website shall constitute tax, legal, insurance, or investment advice. Neither the information, nor any opinion, contained on this Website constitutes a solicitation or offer by EJF or its affiliates to buy or sell any fund or other financial instruments, nor shall any such fund or other financial instrument be offered or sold to any User in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information reflected on this Website are the sole responsibility of the User viewing the site. In exchange for the ability to use this Website, the User viewing the information on the site agrees to indemnify and hold EJF, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) arising from the use of this Website, from the violation of these terms or from any decisions that the User viewing the Website makes based on such information. Furthermore, information contained on this Website is subject to change and are as of the date listed therein.
No Offer or Advice
This Website does not constitute an offer to sell or a solicitation of an offer to buy any fund that may be referenced on or through this Website. Nor does this Website constitute an offering or recommendation by EJF of any security, investment management service, or advisory service. EJF does not provide investment advice, tax advice, or legal advice through this Website, and the User agree that this Website will not be used by the User for such purposes. EJF does not represent that the funds, or services discussed on this Website are suitable for any particular investor. The User acknowledges that its requests for information are unsolicited, and the provision of any information through this Website shall not constitute or be considered investment advice, or an offer to buy or sell a particular fund. The strategies presented are not comprehensive. For a full list of funds, services, products offered by EJF, please consult with EJF’s Form ADV and contact EJF.
Links to Other Internet Sites
At certain places on this site, live “links” to other Internet addresses can be accessed (“Linked Sites”). Such Linked Sites contain information created, published, maintained, or otherwise posted by institutions or organizations independent of EJF. EJF does not endorse, approve, certify or control these Linked Sites and does not guarantee the accuracy, completeness, efficacy, timeliness or correct sequencing of information that they contain. Use of Linked Sites is voluntary, and should only be undertaken after an independent review of the accuracy, completeness, efficacy and timeliness of information contained therein. In addition, it is the user’s responsibility to take precautions to ensure that material selected from such Linked Sites is free of such items as viruses, worms, Trojan horses and other items of a destructive nature. EJF is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of the use of such Linked Sites, or reference to or reliance on information contained therein.
Password Security
To gain access to the Website, the User must enter a User ID and password. The User may not obtain unauthorized access to such parts of the Website, or to any other protected materials or information, through any means not intentionally made available by EJF for the User’s specific use. If the User has a password to access non-public areas of the Website, the User is solely responsible for all activities that occur in connection with the User’s password. Additionally, the User should take steps to protect the confidentiality of its password. After receiving authorization from the User, EJF will provide parties such as the User’s accountant, tax professional, etc. with a different password that will allow them to view their information. The User should contact EJF immediately if it becomes aware of any disclosure, loss, theft or unauthorized use of its password.
Termination
EJF reserves the right to terminate a User’s access to the Website for any reason, without prior notice.
GOVERNING LAW
These terms will be governed and construed under the laws of the state of Delaware without regard to its conflict of law principles, regardless of whether the User resides in Delaware or transacts business with EJF in Delaware or elsewhere. Nothing in these terms creates any rights or protections that the User is not already entitled to by law. If any part of these terms is held invalid or unenforceable, that part will be deemed modified as necessary to make it effective, and the remaining provisions of these terms will remain in effect.
This website is intended solely for the use of the party to whom EJF Capital LLC (“EJF”) has provided it, and is not to be reprinted or redistributed without the express permission of EJF. This document is intended for informational purposes only, and shall not constitute a solicitation or an offer to buy or sell any security or service, or an endorsement of any particular investment strategy. Offering of any EJF fund is made by private placement memorandum only, which contains certain terms, risk factors and material disclosures associated with an investment in such fund. The funds and strategies presented are those focused on illiquid strategies and are not comprehensive. For a full list of funds, services, products offered by EJF, please consult with EJF’s Form ADV and contact EJF.