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First Opportunity Zone Project Breaks Ground

First Opportunity Zone Project Breaks Ground by Kelsi Maree Borland http://bit.ly/2WUO18Z 

The first opportunity zone fund development has officially broken ground. Private equity firm Virtua Partners and its hotel management affiliate Hotel Equities has started development on the 130-room Springhill Suites by Marriott in the Phoenix suburb of Avondale. This is seemingly early project in the opportunity zone saga, and is moving forward as Treasury officials map out the remaining regulations for these investment-friendly zones. However, Virtua was an earlier believer in the model and began fund raising last summer and planning a development pipeline even earlier.

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