JMA Closes Opportunity Zone Fund & Hosts Opportunity Zone Webinar
SAN FRANCISCO, November 27, 2018 (Newswire.com) - San Francisco-based JMA Ventures, LLC (“JMA”), a real estate investment and development firm, today announced that it recently closed an opportunity zone fund that acquired 1.5 city blocks adjacent to the Chase Stadium in downtown Phoenix and will develop a 278-unit Class A multi-family complex. JMA plans to break ground in the next few weeks.
JMA plans to hold an informational webinar to discuss opportunity zones and how investors, builders, and advisors can navigate the new statute and proposed regulations. The webinar is free and will be held on Thursday, Nov. 29 at 2:00 – 4:30 p.m. PST. During the webinar, CEO Todd Chapman will explain the firm’s involvement in opportunity zones, and a panel of specialists will discuss the current state of the opportunity zone program and answer questions about how to conservatively navigate statutory and regulatory ambiguities.
Webinar Topics:
• Answers to the most frequently asked questions posed by investors and advisors
• Steps an investor must take to qualify for the benefits of the opportunity zone program
• Treatment of distributions and depreciation in an opportunity zone fund
• Taxation of partners after the sale of an asset held by an opportunity fund, reinvestment of the proceeds, and applicable timelines
Webinar Participants:
• Todd Chapman, President & CEO, JMA Ventures, LLC
• Jacob Werrett, General Counsel & Acquisitions, JMA Ventures, LLC
• John S. Lore, Esq. Partner, Capital Fund Law Group
• John Sciarretti, CPA, Partner, Novogradac & Company LLP
• Marc Schultz, Esq., Partner, Snell & Wilmer LLP
To register for the JMA opportunity zone webinar, visit www.jmafund.com/webinar
About JMA Ventures, LLC:
JMA is a full-service investment and development firm focused on real estate and leisure-lifestyle assets. JMA manages projects from concept and entitlement through completion and operation. Founded in 1986 and based in San Francisco, JMA is focused on providing quality products and improving the communities and environments in which the firm conducts its business. The company’s portfolio includes landmark properties that span hospitality, resort, destination, residential, retail, office and commercial developments. For more information about JMA, see www.jmafund.com.
This press release (i) is for informational purposes only, (ii) does not provide, and should not be relied upon for investment, accounting, legal, or tax advice, (iii) should not be construed as a statement of actual, projected, or implied returns, and (iv) is not a solicitation of capital. You should consult your own tax, legal, accounting advisors before engaging in any transaction. This press release references and provides information related to the Act, which was enacted in recent months and is subject to further guidance from the Secretary of the Treasury and Commissioner of the Internal Revenue Service.
Source: JMA Ventures, LLC