Strategic Realty Holdings CEO and founder Eddie Lorin sums up the frustrations many real estate investors have when they further delve into the nuances of the new federal Opportunity Zone program.
Lorin recalled how, at a recent Opportunity Zones Coalition meeting, a venture capitalist came in, “high-fiving the people in the room and saying, ‘This is the greatest thing [to happen] for distressed properties and distressed areas.’”
“And then he left and said, ‘Oh, my God, we got more problems,’” Lorin told a crowd of more than 350 at Bisnow’s Evolution of LA’s Submarkets & The Impact of Opportunity Zones event Tuesday at the JW Marriott in downtown Los Angeles.
The story encapsulated the questions around the Opportunity Zone program, which passed late last year as part of President Donald Trump’s Tax Cut and Jobs Act.
bisnow.com
by Joseph Pimentel
August 16, 2018