Erik Murray, CEO and managing partner at Oakland, Calif.-based Oak Funds, a minority-owned business focused on investing and developing cannabis real estate, has set up a $40-million investment fund and is seeking investors for an adaptive reuse project in an Opportunity Zone in downtown Los Angeles that will include one of the state’s largest cannabis retailers.
For nearly 30 years, tax professional Ken Van Damme, a partner in the private client services practice at professional services firm EY, has advised high-net-worth (HNW) individuals on their commercial real estate holdings.
By Stacey Delich-Gould, Elizabeth Glasgow, Michael Schmid
The Tax Cuts and Jobs Act of 2017 added Internal Revenue Code Section 1400Z, which created a new program to encourage investment and job creation in economically distressed communities designated as qualified opportunity zones (QOZs).
The owners of the Ritz-Carlton New York, Central Park are exploring a sale after receiving interest from at least two buyers, according to people familiar with the matter.
The Wall Street Journal looks at the iBuyer trend shifting to include higher end properties. Retail rents are dropping in 12 of Manhattan’s 17 commercial corridors, reports Crain’s New York Business. These are among today’s must reads from around the commercial real estate industry
