Pinnacle Partners, a real estate investment management firm, has announced the successful closure of its twelfth Qualified Opportunity Zone Fund (QOF), securing $90 million in investments.
The fund’s focus was on four residential development projects: two market-rate multifamily communities located within NFL stadium districts in Denver, CO and Nashville, TN; one build-to-rent single-family home community in Avondale, AZ; and one build-to-rent townhome community in Charlotte, NC.
According to Pinnacle Partners Co-Founder and Managing Partner Leo Backer: “This marks a new chapter for our company as it is our first multi-asset fund. We are dedicated to identifying institutional-quality projects through exclusive relationships that offer portfolio diversification along with significant tax benefits for our investors.”
Currently, the company is actively seeking opportunities for its next QOF which will focus on build-to-rent developments in the Southeast. Trilogy Investment Co. will serve as co-general partners for three shovel-ready development projects identified by Pinnacle Partners.
