Opportunity Zones: Opportunities and Challenges Explored
Qualified Opportunity Zones (QOZ) were created through the Tax Cuts and Jobs Act to encourage investors with capital gains to invest in low-income areas by providing tax benefits such as capital gains tax deferral, reduction of that capital gain, and a potential tax free-exit on the sale of the investment property if held for 10 years. This is the most exciting federal tax incentive programs to have been enacted in many years and while it likely will lead to greater investments in Opportunity Zones, there are a number of technical issues that need to be navigated to obtain these benefits.
Join a panel of key thought leaders and professionals assembled by The Knowledge Group as they provide the audience with an in-depth analysis of QOZ investments as well as the recent updates and developments surrounding the topic. Speakers will also discuss the best practices to overcome the challenges while maximizing opportunities.
This LIVE Webcast will discuss the following key provisions:
- Qualified Opportunity Zones: A Primer
- New Guidance on Opportunity Zones
- Recent Updates and Developments
- Maximizing Opportunities
- Legal Risks and Challenges
- Best Practices
Darryl Steinhause, Partner
P. Quinn Moss, Partner
Rebecca H. Mitich, Partner
Husch Blackwell LLP
Robert S. Goldsmith, Partner/Co-Chair of the Redevelopment & Land Use Department
Greenbaum, Rowe, Smith & Davis LLP
Matthew S. Campbell, Shareholder
- Tax Benefits Intro and example
- Promising Uses of OZ;
- What are OZs
- Nuts and bolts of QOFs, Summary of Investment Requirements; Failure to Comply
- Tax and Regulatory Issues; Overview of QOF Structures
- QOF Structures; 1031 comparison,
- Early movers
- What Regs are we waiting for
- Pairing with other tax incentives (NMTC, LIHTC and HTC)
- OZ through an Impact Lens - challenges
- Key Takeaways
Who Should Attend:
- Business Managers
- Business Analysts
- Executive Board Members
- Business Development Managers
- Fund Managers
- Investment Advisers
- Financial Management Officers
- Tax Advisers
- Tax Consultants
- Other Related/Interested Professionals
Darryl Steinhause is a partner in DLA Piper's Real Estate Capital Markets group.
Real estate private equity funds represent an integral component of our real estate capital markets practice, encompassing the corporate and securities, tax, ERISA, 1940 Act, and real estate disciplines. Lawyers in this group are familiar with industry best practices and are well versed in the structuring and formation of a wide variety of real estate private equity funds, including those adopting a private REIT structure. A significant aspect of this representation involves the formation and structuring of sponsor ownership vehicles in a tax-efficient manner in order to maximize after-tax incentive payments to sponsors, their owners, and their employees.
With more than 30 years of experience in highly technical securities and tax transactions, Mr. Steinhause has structured securities offerings for a wide variety of significant clients across the country, acting as lead counsel on several billion dollars of fund, debt, tenant in common (TIC), Delaware statutory trust (DST), real estate investment trust (REIT), Opportunity Zone Funds and other offerings. He has represented both sponsors and institutional investors in a variety of deal structures, including publicly registered transactions, private placements and institutional funds. His experience also includes structuring lending transactions and loan workouts for borrowers particularly involving TICs, REITs and DSTs.
Noted for his ability to create solutions and structure complex deals, Mr. Steinhause has acted as tax and securities counsel to over US$8 billion of DST, REIT and TIC acquisitions.
Darryl Steinhause is a partner in DLA Piper's Real Estate Capital Markets group. Real estate private equity funds represent an …
Matt Campbell is a shareholder with Hall Estill. During his 20 years in practice, he has experience in both private practice and in a Fortune 500 Corporate Tax department. Matt’s practice at Hall Estill is concentrated on Tax and transactional Tax Law, as well as corporate services, specifically in the Mergers & Acquisitions area, serving clients nationwide. Prior to joining the firm, Matt was a Tax Director for TechnipFMC plc in Houston. He previously worked at professional services firms Ernst & Young; BKD, LLP; Aronson & Company; and KPMG, LLP and is licensed to practice before the U.S. Tax Court, as well as the U.S Federal Court of Claims. Matt received his J.D., with distinction, from the University of Iowa College of Law and his LL.M in Taxation from Georgetown University Law Center.
Matt Campbell is a shareholder with Hall Estill. During his 20 years in practice, he has experience in both private …
Quinn Moss, is a corporate partner in the New York office of Orrick Herrington & Sutcliffe LLP, co-head of Orrick’s global Private Investment Funds Group, and on the leadership committees for Orrick’s Opportunity Zone initiative and Orrick’s Impact Finance and Investment Group. Quinn represents private investment fund sponsors (including impact funds) and institutional investors in private investment funds. Quinn received her B.A. from Harvard University, her J.D. from the Fordham School of Law and is admitted in New York. She is a member of the SEC Working Group for the National Association of Public Plan Attorneys (NAPPA), a member and former Trustee of the American College of Investment Counsel (ACIC), a member of the Association of the Bar of the City of New York, and a director, corporate secretary and volunteer for High Water Women Foundation. Quinn has recently presented and moderated panels exploring Opportunity Zones opportunities, has frequently presented and moderated panels focusing on impact finance and investment, the negotiation of fund terms and the impact of regulation on funds, and also was lead author of “Fundraising Terms and Conditions: Legal Developments in Key Countries” published in Private Equity and Venture Capital – Regulation and Good Practice (Risk Books, 2014).
Quinn Moss, is a corporate partner in the New York office of Orrick Herrington & Sutcliffe LLP, co-head of Orrick’s …
Rebecca is a partner in Husch Blackwell’s Real Estate, Development and Construction group, one of the largest legal real estate practices in the country. She represents lenders, developers, and community development entities in complex real estate development projects utilizing New Markets Tax Credits, Historic tax Credits, TIF, and PACE financing. She currently advises clients on Opportunity Zone fund formation, and consults with municipalities on strategies for attracting Opportunity Zone capital to their communities. Rebecca has spoken about Opportunity Zones to state-wide and national audiences.
Rebecca is Co-Leader of Husch Blackwell’s Opportunity Zones team, building on the firm’s national reputation as a leader in the field of New Markets tax Credits. The multidisciplinary team is comprised of more than 25 attorneys from across the country, with expertise in fund formation, securities, tax, private equity and emerging companies, community development finance and real estate.
Rebecca is a partner in Husch Blackwell’s Real Estate, Development and Construction group, one of the largest legal real estate …
Robert S. Goldsmith is Co-Chair of the Redevelopment & Land Use Department at Greenbaum, Rowe, Smith & Davis LLP. His practice focuses on redevelopment, downtown and urban revitalization, transit oriented development, project financing and incentives, sustainable building initiatives and public-private partnerships. His experience encompasses counseling clients on the specialized issues in redevelopment related to strategy, process, parking demand, design and construction. Mr. Goldsmith represents clients in both the public and private sectors. He also has broad experience in complex commercial litigation, construction litigation and appellate work. He lectures frequently on issues related to the redevelopment process in New Jersey for a variety of groups and organizations, and teaches a course in redevelopment law at Rutgers University School of Law.
Robert S. Goldsmith is Co-Chair of the Redevelopment & Land Use Department at Greenbaum, Rowe, Smith & Davis LLP. His …
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Method of Presentation:
On-demand Webcast; Group-Internet Based
Experience in tax laws
NY Category of CLE Credit:
Areas of Professional Practice
NASBA Field of Study:
Taxes - Technical
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About DLA Piper
The Real Estate Capital Markets group of DLA Piper builds creative solutions for your business needs. Our interdisciplinary approach ensures the involvement of skilled practitioners to address the complexities of real estate securities. Our group’s experience acting as lead counsel on fund, REIT, DST, TIC and debt offerings, gives our clients an edge in capital markets transactions.
About Hall Estill
Hall Estill is a full-service business law firm that provides outstanding legal representation in local, regional, national and international venues. Since 1966, we have assisted our clients in handling their legal affairs in a myriad of practices, including Bankruptcy, Corporate Transactions, Litigation, Indian Law, Employment Law, Energy & Natural Resources, Environmental and Tax. With more than 130 attorneys in six offices nationwide – Tulsa, Oklahoma City, Denver, Fayetteville and Bentonville, Arkansas and Portland, Oregon - Hall Estill delivers comprehensive, cost-effective legal services with powerful results to clients every day. Further, Hall Estill attorneys are leaders in their fields, regularly publishing and lecturing in their areas of expertise, continuing to build on the firm's reputation for excellence.
Orrick Herrington & Sutcliffe LLP is a leading global law firm with a particular focus on serving clients in the technology, energy and financial sectors. We are recognized worldwide for delivering the highest-quality, commercially oriented legal advice and fostering a culture of innovation and collaboration with our clients, among our lawyers and staff and within our communities. Founded in San Francisco a century and a half ago, Orrick today is named by Law360 as one of the "Global 20" leading firms. With approximately 1,100 lawyers across the United States, Europe and Asia, our platform offers clients a distinctive combination of local insight and consistent global quality across our key market locations.
About Husch Blackwell LLP
Husch Blackwell leads our clients from where they are to where they want to be. From offices in 18 U.S. cities, we deliver legal insight and business leadership that helps our clients identify smart solutions, advance their goals and move forward.
About Greenbaum, Rowe, Smith & Davis LLP
Greenbaum, Rowe, Smith & Davis LLP is a multi-practice law firm serving local, regional and national clients. As one of New Jersey’s leading law firms, the firm brings diverse and comprehensive expertise to the representation of both businesses and individuals. For over 100 years, the firm has earned the trust and loyalty of clients by providing sophisticated, creative and cost-effective representation through collaborative teamwork, proactive legal strategies, attention to detail and relationship-oriented service.