Virtua Partners Finalizes Purchase of Courtyard by Marriott in Winston-Salem, NC; Strategic partnership with Hotel Equities promotes continued growth through new development and acquisitions

Virtua Partners Finalizes Purchase of Courtyard by Marriott in Winston-Salem, NC; Strategic partnership with Hotel Equities promotes continued growth through new development and acquisitions

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SCOTTSDALE, AZ and ATLANTA, GA - (August 22, 2019) – Virtua Partners announced the purchase of a 126-room Courtyard by Marriott under construction in Winston-Salem, North Carolina. Hotel Equities will manage the Marriott hotel in downtown Winston-Salem when it opens in Q1 2020. Hotel Equities and Virtua Partners joined forces last year to expand upon their current hospitality portfolio through new development and acquisition opportunities. Hotel Equities is providing development services for the Courtyard through the construction process and will see it through completion. Located at 640 W. 4th Street in the heart of Winston-Salem, the Courtyard will feature a rooftop bar with views of the surrounding downtown area.  As the home of Wake Forest University and numerous corporate headquarters including banking firm BB&T, Winston-Salem enjoys its status as both a…
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The Capital Gains Tax ‘Opportunity’ of a Lifetime

The Capital Gains Tax ‘Opportunity’ of a Lifetime

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A little-known provision within the Tax Cuts and Jobs Act of 2017 provides investors with a chance to earn returns on attractive investments, receive remarkable decreases to their capital gains taxes and make an impact on local communities. They are called Opportunity Zones. To better understand this exciting program, wealth managers and accredited investors should learn about the tax benefits available. Opportunity Zones were established by Congress to promote long-term economic stimulus through investments in low-income community census tracts in all 50 U.S. states, six U.S. territories and the District of Columbia. Investors are able to roll over their capital gains of any investment into a Qualified Opportunity Fund (QOF).  QOFs steer money into qualified projects to ensure investors capture the associated tax breaks while meeting other fund-specific requirements and…
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The First Opportunity Zone Fund, One Year Later – Quinn Palomino on OpportunityDb Podcast

The First Opportunity Zone Fund, One Year Later – Quinn Palomino on OpportunityDb Podcast

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It's been over one year since we first launched our first Opportunity Zone Fund. Since then we have raised roughly $100 million, nearly half of which has already been deployed. We have also celebrated the groundbreaking of multiple projects. Listen to the full podcast here In the 50 minute podcast episode, Quinn Palomino discusses how Virtua Partners has accomplished so much in one year, the need to develop a social impact metric system and much more.
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Shay Hawkins on the need to restore reporting requirements in Opportunity Zones in Morning Consult

Shay Hawkins on the need to restore reporting requirements in Opportunity Zones in Morning Consult

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Shay Hawkins is the President and CEO of the Opportunity Funds Association. He served as Senator Tim Scott's (R-SC) Tax and Economic Policy Counsel during the Tax Cuts and Jobs Act and Treasury's subsequent Opportunity Zone Regulation implementation. In this op-ed submission Shay discusses the need for a firm set of reporting standards to measure the impact of Opportunity Zone investments, with quotes from Quinn Palomino, CEO of Virtua Partners. Understanding the full scope and impact of Opportunity Zone funds will help ensure the provision fulfills the promise of revitalizing economically distressed communities across the country. Read the full story here
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