Disclosure: Rose Law Group represents Defer Gain
By Callan Smith | Rose Law Group Reporter
In April, Governor Ducey designated 168 economically-distressed communities throughout Arizona as Opportunity Zones, certified by the U.S. Department of the Treasury and the IRS, which provides tax benefits to investors.
Defer Gain, LLC, investment funds launched this week to take advantage of the designations with greater than $300 million in projects, some being permit ready, focusing on commercial, multi-unit residential, retail and mixed-use development. The projects are principally in the Downtown Phoenix area, with one located in Scottsdale near the Diamondback’s Spring Training.
Defer Gain will be managing two funds, one at $50 million for Arizona Projects, the second will raise $100 million for projects throughout the U.S.
While there are other funds in Arizona, Michael Lafferty, President of Lafferty Companies, said the difference between Defer Gain and those funds, is “we’re ready to go with projects.”
Lafferty has thirty years of experience in the Phoenix area, working on real estate, assembling real estate and improving projects. The Defer Gain team is experienced in asset management, site selection, and running businesses.
“The projects have been in planning far before qualified Opportunity Zones existed, an opportunity that we are going to present to our investors, they financially model really well,” Lafferty said.
Investors can begin involvement with the fund as soon as October 15th.
