JMA Ventures, LLC Launches Opportunity Zones Website
SAN FRANCISCO, August 21, 2018 (Newswire.com) - San Francisco-based JMA Ventures, LLC (“JMA”), a real estate investment and development firm, today announced the launch of a new website, www.jmafund.com, dedicated to answering questions about recent legislation regarding tax-advantaged Qualified Opportunity Zones and providing information about JMA and its team. Qualified Opportunity Zones were recently designated by the governor of each state, and certified by the IRS, pursuant to the Tax Cuts and Jobs Act (the “Act”). The Act provides that, subject to certain requirements, an investor may defer payment of capital gains taxes from the sale of an asset (such as real estate, stock, etc.) if such gains are invested into a Qualified Opportunity Zone. Further, the Act incentivizes long-term investment by providing a 15 percent step up in basis in the deferred capital gains and elimination of future capital gains taxes after certain holding periods. JMA recently formed an entity dedicated to investing in Qualified Opportunity Zones and will look to be a leader in the Opportunity Zone Space.
Regarding JMA’s leadership in the Qualified Opportunity Zone space, CEO Todd Chapman remarked: “Many groups are racing to the newly created Opportunity Zone space, but they lack a multi-decade, vertically-integrated firm to execute on projects. JMA is uniquely positioned to be a leader in the QOZ space because of its internal expertise and established track record managing and completing complicated investment and development projects. Given the strict guidelines for deployment of capital and timeline for construction imposed by the Act, an ability to execute will be critical to the success of any Qualified Opportunity Zone investment.”
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.
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