EJF to launch second opportunity zone fund

EJF Capital plans to launch its second real estate Qualified Opportunity Zone Fund on April 15 following the successful close in January of the inaugural EJF OpZone Fund I with $280 million in commitments.

EJF OpZone Fund II will focus primarily on real estate multifamily apartment and industrial development opportunities in disadvantaged areas. The $5.9 billion firm jumpstarted its opportunity zone strategy in August 2018 and the strategy is the result of the federal Tax Cuts and Jobs Act of 2017 that allowed investors to gain tax benefits through investment in lower income census tracts.

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