HomeWebcastQualified Opportunity Funds: Trends and Updates to Watch Out For
Online CPE Opportunity Funds CLE

Qualified Opportunity Funds: Trends and Updates to Watch Out For

Live Webcast Date: Thursday, September 26, 2019 from 3:00 pm to 5:30 pm (ET)
Taxation (CPE)Recording

Online CPE Opportunity Funds

Join us for this Knowledge Group Online CPE Opportunity Funds Webinar. Earlier this year, the Internal Revenue Service (IRS) released and proposed a new regulation that will provide additional guidance for investors in completely understanding the robust regulatory framework of Qualified Opportunity Zones (QOZs) and Qualified Opportunity Funds (QOFs). Under the proposed regulations, significant hurdles involving the latest compliance challenges investors and tax practitioners are facing had been removed. The proposed regulations also allow deferral of all or part of gain invested in QOF and to be otherwise included in income.

Although the proposed regulations addressed most of the hurdles of investing in a qualified opportunity zone, several key questions still remain that posed potential risks and challenges to investors. It is imperative to be in the know with the recent trends and developments in this area of law before committing any actions.

Join a panel of key thought leaders and professionals assembled by The Knowledge Group as they provide the audience with a comprehensive analysis of the significant trends and developments in Qualified Opportunity Funds. The speakers will also provide best practices to avoid potential risk and pitfalls surrounding this significant topic.

Some of the major topics that will be covered in this course are:

  • Qualified Opportunity Funds: The Fundamentals
  • Recent Trends and Developments
  • Opportunities and Challenges
  • Practical Tips and Best Practices
  • What Lies Ahead

Agenda

Matthew J. Schiller, Partner
Greenbaum Rowe Smith & Davis LLP
  1. History of the OZ Program
  2. Introduction to the OZ Program
    1. Who can Participate in the OZ Program
    2. What are Qualified Opportunity Zones?
    3. Summary of the Tax Benefits under the OZ Program
  3. How are Tax Benefits Obtained?

Stephen "Steve" Wilson, Counsel
Withersworldwide
  • Coordinating the “qualified opportunity zone business” with QOFs investing in same
  • Sales and qualifying reinvestments within the 10-year holding period
  • Investor disclosure standards and the “anti-fraud rule.”
  • Property not fully within a zone

Darryl Steinhause, Partner
DLA Piper
  • Structuring of Qualified Opportunity Funds
    • Tax
    • Securities
  • Investing in OZ businesses

Nathaniel D. Razza, CPA, Director of Tax Accounting
Goulston & Storrs PC
  • Estate planning considerations for QOF investors
  • Traps for the Unwary: avoiding gain triggering distributions and other triggering events
  • Including QOFs in other tax advantages structures such as tax credit funds and REITs. 

Abraham Leitner, Director
Goulston & Storrs PC
  • Manufacturing gain for the QOF investment
  • Using leases in a QOF
  • What if I already own property in a QOZ?—Structuring considerations for existing owners
  • Can sponsors benefit from the QOF regime—Structuring considerations for carried interests

Who Should Attend

  • Real Estate Brokers
  • Investment Advisers
  • Tax Practitioners

Online CPE Opportunity Funds

Matthew J. Schiller, Partner
Greenbaum Rowe Smith & Davis LLP
  1. History of the OZ Program
  2. Introduction to the OZ Program
    1. Who can Participate in the OZ Program
    2. What are Qualified Opportunity Zones?
    3. Summary of the Tax Benefits under the OZ Program
  3. How are Tax Benefits Obtained?

Stephen "Steve" Wilson, Counsel
Withersworldwide
  • Coordinating the “qualified opportunity zone business” with QOFs investing in same
  • Sales and qualifying reinvestments within the 10-year holding period
  • Investor disclosure standards and the “anti-fraud rule.”
  • Property not fully within a zone

Darryl Steinhause, Partner
DLA Piper
  • Structuring of Qualified Opportunity Funds
    • Tax
    • Securities
  • Investing in OZ businesses

Nathaniel D. Razza, CPA, Director of Tax Accounting
Goulston & Storrs PC
  • Estate planning considerations for QOF investors
  • Traps for the Unwary: avoiding gain triggering distributions and other triggering events
  • Including QOFs in other tax advantages structures such as tax credit funds and REITs. 

Abraham Leitner, Director
Goulston & Storrs PC
  • Manufacturing gain for the QOF investment
  • Using leases in a QOF
  • What if I already own property in a QOZ?—Structuring considerations for existing owners
  • Can sponsors benefit from the QOF regime—Structuring considerations for carried interests

Online CPE Opportunity Funds

Online CPE Opportunity Funds

Matthew J. SchillerPartnerGreenbaum Rowe Smith & Davis LLP

Matthew J. Schiller is a partner in the Real Estate and Redevelopment & Land Use Departments at Greenbaum, Rowe, Smith & Davis LLP, where he concentrates his practice in commercial real estate law.  Mr. Schiller’s work encompasses a wide array of commercial real estate transactional, zoning, redevelopment, taxation and litigation matters throughout New Jersey, New York and Connecticut.  His transactional experience includes the acquisition, disposition, leasing and management of office, retail, and industrial properties. In addition, Mr. Schiller's practice includes seeking municipal and state land use approvals for commercial and residential developments. He also represents special servicers in connection with distressed real estate assets, including loan workouts and modifications, foreclosures, deeds in lieu of foreclosure, REO sales and loan sales.  Mr. Schiller is a frequent author and lecturer on Qualified Opportunity Zones.

Online CPE Opportunity Funds

Stephen "Steve" WilsonCounselWithersworldwide

Steve Wilson has 45 years of continuous experience in transactional real estate law and related business issues. He also has substantial experience in corporate and general business law.  He has held the esteemed Martindale-Hubbell "AV" (“preeminent”) peer designation for many years.

In the superheated West Coast real estate environment, he augments his technical knowledge by providing the business judgment and perspective that a seasoned institutional real estate executive would provide. Much of his current professional focus is on complex, value-added urban mixed-use projects and joint ventures, with recent focus on project planning in Qualified Opportunity Zones.  A related longtime focus is assisting nonprofit or charitable organizations (including religious organizations) seeking to monetize their land holdings in a way which incorporates a charitable or public benefit.  Steve’s clients routinely comment that he is "their other partner".

Other significant capabilities include real estate tax issues, entity formation/asset management for portfolio owners, restructuring and securitization of holdings, entitlement work, purchases and sales, commercial leasing and title matters. Many clients are offshore investors who benefit greatly from his guidance.  Steve has been an expert witness in two recent, significant jury trials involving real estate issues.

Steve has traveled widely on business in Asia, and for 10 years led post-Perestroika humanitarian orphanage support work in the Ryazan region of CIS. His humanitarian endeavors have also included Africa and South America. In 2013, he lectured Chambers of Commerce throughout Indonesia on trade with the US. In 2017, he was a member of the San Francisco Mayor’s economic and trade delegation to Vietnam.

Online CPE Opportunity Funds

Darryl SteinhausePartnerDLA Piper

Darryl Steinhause is a partner in DLA Piper's Real Estate Capital Markets group.

Mr. Steinhause is an integral component of the real estate capital markets practice at DLA Piper. He is familiar with industry best practices and is well versed in the structuring and formation of a wide variety of real estate private equity funds, including those adopting a private REIT structure and the newly created Opportunity Zone Funds. 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 35 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 over 10 billion dollars of fund, debt, real estate investment trust (REIT), Delaware statutory trust (DST), 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.

Online CPE Opportunity Funds

Nathaniel D. Razza, CPADirector of Tax AccountingGoulston & Storrs PC

Nate Razza, a Certified Public Accountant (CPA), is the Director of Tax Accounting at Goulston & Storrs. With deep taxation experience, Nate works with clients and their team of professional advisors across the real estate industry. He consults on transactional tax matters, projections and structuring services for various types of businesses, including real estate investment and development companies. Nate focuses primarily on the federal and state income taxation of partnerships and other pass-through entities. He is a trusted advisor to individuals and businesses, identifying important tax implications related to business and legal decisions they make.

Nate’s experience includes tax planning for real estate companies, renewable energy companies, private equity funds, and international investment funds. He is also highly experienced with partnership tax accounting and transaction modeling in connection with mergers and acquisitions.

Nate brings over 18 years of experience to the firm, including several years in the National Tax department at a Big Four firm. Most recently he was a Tax Partner and Co-leader of the real estate practice at a Boston-based regional accounting firm.

Online CPE Opportunity Funds

Abraham LeitnerDirectorGoulston & Storrs PC

Abe Leitner is a tax lawyer who handles complex domestic and cross-border transactions for clients doing business in the U.S. and internationally, including in Canada, Europe and China, as well as in the Middle East.  In doing so, he often counsels multinational corporations on cross-border mergers and acquisitions.

He also frequently structures international joint ventures involving real estate investments in the United States and abroad, and advises real estate investment trusts (REITS) on their tax matters. 

Abe also advises private equity funds and other real estate investors in connection with Section 1031 and other efficient exit strategies.

He is particularly experienced in advising foreign governments, insurance companies, hedge funds, real estate developers, assisted living providers, manufacturers and high net worth individuals.

Prior to joining Goulston & Storrs, Abe was a Partner at a leading Canadian law firm recognized for its focus on business law, and was based in that firm's New York office. He is also the former Chair of the Young IFA Network Committee, IFA USA.


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Online CPE Opportunity Funds

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast; Group-Internet Based

Prerequisite:
   General knowledge of tax laws

Course Code:
   148458

NY Category of CLE Credit:
   Areas of Professional Practice

NASBA Field of Study:
   Taxes - Technical

Total Credits:
    2.5 CLE 2.5 NASBA-CPE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

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.

Website: https://www.greenbaumlaw.com/

Founded over 100 years ago, Withers is a leading international law firm for global businesses, their equity and debt stakeholders, and the executives who manage them. The firm is one of the largest tax law firms in the world and consists of over 160 partners supported by more than 1,000 people across 18 strategically located international offices.

Our Real Estate practice represents investors, developers, landowners, banks, institutions and non-profit organizations who are buying, selling, developing and investing in real estate in Europe, Asia (including Australia, China and Singapore), the Americas (including the Caribbean) and worldwide. We have experience working with a variety of investment vehicles, from open-ended investment companies to limited partnerships, unit trusts and REITs and deal with many major offshore fund jurisdictions. With experience in various aspects of real estate development--from obtaining land use approvals to negotiating design and construction agreements--we advise both landowners and developers in relation to real estate development.

We have completed commercial, residential and non-profit deals for some of the most prominent individuals and institutions in the world. Whether we’re advising a tenth-generation landowner in England, financing an international school in its expansion in Asia, helping a fund acquire a resort in Australia or structuring an investment in a mixed-use development in San Francisco, our team are discreet, cost-conscious and forward thinking, spotting potential pitfalls before anyone else.

Website: https://www.withersworldwide.com/

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.

Website: https://www.dlapiper.com/

Goulston & Storrs law firm is a real estate powerhouse with leading-edge corporate, capital markets and finance, litigation, private client and trust, and tax practices. Goulston & Storrs’ Real Estate Tax Group counsels clients in connection with Qualified Opportunity Fund and Opportunity Zone investments on issues ranging from financing, securities and fund formation to structuring, transactions and compliance.

Website: https://www.goulstonstorrs.com/

Matthew J. Schiller is a partner in the Real Estate and Redevelopment & Land Use Departments at Greenbaum, Rowe, Smith & Davis LLP, where he concentrates his practice in commercial real estate law.  Mr. Schiller’s work encompasses a wide array of commercial real estate transactional, zoning, redevelopment, taxation and litigation matters throughout New Jersey, New York and Connecticut.  His transactional experience includes the acquisition, disposition, leasing and management of office, retail, and industrial properties. In addition, Mr. Schiller's practice includes seeking municipal and state land use approvals for commercial and residential developments. He also represents special servicers in connection with distressed real estate assets, including loan workouts and modifications, foreclosures, deeds in lieu of foreclosure, REO sales and loan sales.  Mr. Schiller is a frequent author and lecturer on Qualified Opportunity Zones.

Steve Wilson has 45 years of continuous experience in transactional real estate law and related business issues. He also has substantial experience in corporate and general business law.  He has held the esteemed Martindale-Hubbell "AV" (“preeminent”) peer designation for many years.

In the superheated West Coast real estate environment, he augments his technical knowledge by providing the business judgment and perspective that a seasoned institutional real estate executive would provide. Much of his current professional focus is on complex, value-added urban mixed-use projects and joint ventures, with recent focus on project planning in Qualified Opportunity Zones.  A related longtime focus is assisting nonprofit or charitable organizations (including religious organizations) seeking to monetize their land holdings in a way which incorporates a charitable or public benefit.  Steve’s clients routinely comment that he is "their other partner".

Other significant capabilities include real estate tax issues, entity formation/asset management for portfolio owners, restructuring and securitization of holdings, entitlement work, purchases and sales, commercial leasing and title matters. Many clients are offshore investors who benefit greatly from his guidance.  Steve has been an expert witness in two recent, significant jury trials involving real estate issues.

Steve has traveled widely on business in Asia, and for 10 years led post-Perestroika humanitarian orphanage support work in the Ryazan region of CIS. His humanitarian endeavors have also included Africa and South America. In 2013, he lectured Chambers of Commerce throughout Indonesia on trade with the US. In 2017, he was a member of the San Francisco Mayor’s economic and trade delegation to Vietnam.

Darryl Steinhause is a partner in DLA Piper's Real Estate Capital Markets group.

Mr. Steinhause is an integral component of the real estate capital markets practice at DLA Piper. He is familiar with industry best practices and is well versed in the structuring and formation of a wide variety of real estate private equity funds, including those adopting a private REIT structure and the newly created Opportunity Zone Funds. 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 35 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 over 10 billion dollars of fund, debt, real estate investment trust (REIT), Delaware statutory trust (DST), 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.

Nate Razza, a Certified Public Accountant (CPA), is the Director of Tax Accounting at Goulston & Storrs. With deep taxation experience, Nate works with clients and their team of professional advisors across the real estate industry. He consults on transactional tax matters, projections and structuring services for various types of businesses, including real estate investment and development companies. Nate focuses primarily on the federal and state income taxation of partnerships and other pass-through entities. He is a trusted advisor to individuals and businesses, identifying important tax implications related to business and legal decisions they make.

Nate’s experience includes tax planning for real estate companies, renewable energy companies, private equity funds, and international investment funds. He is also highly experienced with partnership tax accounting and transaction modeling in connection with mergers and acquisitions.

Nate brings over 18 years of experience to the firm, including several years in the National Tax department at a Big Four firm. Most recently he was a Tax Partner and Co-leader of the real estate practice at a Boston-based regional accounting firm.

Abe Leitner is a tax lawyer who handles complex domestic and cross-border transactions for clients doing business in the U.S. and internationally, including in Canada, Europe and China, as well as in the Middle East.  In doing so, he often counsels multinational corporations on cross-border mergers and acquisitions.

He also frequently structures international joint ventures involving real estate investments in the United States and abroad, and advises real estate investment trusts (REITS) on their tax matters. 

Abe also advises private equity funds and other real estate investors in connection with Section 1031 and other efficient exit strategies.

He is particularly experienced in advising foreign governments, insurance companies, hedge funds, real estate developers, assisted living providers, manufacturers and high net worth individuals.

Prior to joining Goulston & Storrs, Abe was a Partner at a leading Canadian law firm recognized for its focus on business law, and was based in that firm's New York office. He is also the former Chair of the Young IFA Network Committee, IFA USA.

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