USG Realty Capital Opens Multi-Family Housing Project in Milwaukee, Further Diversifying Its One-of-a-Kind Investor-Led Portfolio
MILWAUKEE, September 20, 2022 /PRNewswire/ — USG Realty Capital, a leading investment sponsor specializing in Opportunity Zones, today announced the launch of its all-new Opportunity Zone project for Investors Choice OZ Fund, Elevation 1659. , in Milwaukee, Wis.. The 76-unit multi-family community is being developed by Ogden & Company, Inc. Elevation 1659 is expected to be completed in September 2023.
“Elevation 1659 is located in one of the best opportunity areas in the country with one of the strongest social impact studies directly related to this project,” said Greg Genovese, CEO and Founder of USG Realty Capital. “It’s always a great day when we kick off a new project, and our developer partner, Ogden & Co., has been great to work with. We hope Elevation 1659 becomes a big hit for all of our investors and great news.” on top of that Milwaukee neighborhood, creating an exceptional positive social impact for the community. »
Elevation 1659 is located one mile north of downtown Milwaukee in a booming neighborhood where many investors and businesses are looking for affordable, urban-oriented commercial and multi-family projects. According to Smart Growth America, the project Milwaukee Census tract currently ranks among the top 40 qualified opportunity areas in the United States. Additionally, data compiled by DRC Impact Reporting shows that Milwaukee The metro area ranks better than 66% of major US cities in housing affordability, and wealth creation for long-time residents is expected to increase for local and surrounding areas.
“We are very excited to have construction on Elevation 1659 beginning,” said Jason Pietsch, Ogden’s real estate investment specialist for the project. “In the days and weeks ahead, tree removal, building demolition and subsequent site preparation will begin. These initial steps will literally lay the foundation for the rest of the project – a project that we believe will be among first class A. apartment buildings in the Milwaukee market.”
The project itself is poised to be a strong competitor to other multi-family developments already in the area, offering higher quality amenities compared to similar properties within a one mile radius. Additionally, Elevation 1659 offers a lower carbon footprint and an overall positive impact on the metro. Milwaukee community as the neighborhood is expected to experience greater economic gain and lower crime rates.
Investors Choice OZ Fund by USG Realty Capital launched in June 2021. Since then, the Qualified Opportunity Zones Fund has added four more projects to its portfolio and continues to seek out qualified multi-family housing, senior living, storage and prefab housing projects. The $50 million the offering focuses on projects with equity investment objectives ranging from $5 million at $10 million per project.
About USG Realty Capital
USG Realty Capital is headquartered in Silverdale, Washingtonwhose divisional headquarters for asset management and capital markets is located in Santa Barbara, California. The USG Opportunity Zone investment platform was created by USG Realty Capital, an alternative investment company, and successfully launched three opportunity zone investment funds. To learn more, please visit www.usgre.com.
This is not an offer to sell securities. An offer to sell securities may only be made pursuant to the applicable private placement memorandum for the security (“the memorandum”). All investments involve risk. Investing in securities is speculative, illiquid and involves a high degree of risk and there is no guarantee that investors will receive any returns. Risks may include property risks; opportunity zone regulatory risks; volatility in the multi-family, single-family, medical office, general office, retail, industrial, self-storage and senior living industries; the impact of the COVID-19 outbreak; limited redemption rights; restrictions on portability; no guarantee of cash distributions; distributions can come from any source; dependence on management; funding risks; the fees paid to the manager cannot be determined by arm’s length negotiations; conflicts of interest; and tax risks.
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SOURCE USG Real Estate Capital