Virtua Credit Secures $17.6 Million in Opportunity Zone Funding for Virtua Partners and Quyp Development

Using opportunity zone funding, Virtua Partners plans to build a 128-room SpringHill Suites by Marriott in Avondale.

Virtua Partners affiliate, Virtua Credit, has secured $17.6 million in opportunity zone funding for Virtua Partners’ development of 1,300 residential units and 250,000 square feet of commercial space. The projects aim to allow investors to defer income taxes on capital gains and potentially reduce or eliminate federal income taxes for their investment in these properties, said Ethan Schelin, president of Virtua Credit. To continue reading, click here.