Why did you want to participate as a judge and what advice do you have for the competitors?

I have been very active in the OZ space early on and I’d like to give back if I can. Also, I’d like to see how projects across the OZ space are evolving.

Think about how your investment can fit within the spirit and the letter of the opportunity zone legislation.

How do you think an event like America's Top Project can help project developers and investors?

Connecting the capital to the developers is one of the great challenges and beauty of opportunity zones. Events like this foster the networking between these groups.

What is your professional background?

Acquisitions for real estate fund managers (Clarion Partners and Bridge Investment Group) completing over $5.5 billion of transactions totaling over 9,400 multifamily units and 8 million square feet of commercial.

Please tell us about your involvement in the Opportunity Zone industry?

Bridge was one of the first investment fund managers into the opportunity zone space creating comingled funds. I came from Clarion Partners to start Bridge Opportunity Zone Fund I and at the end of 2021 we will close Bridge Opportunity Zone Fund IV. I have worked on over 30 opportunity zone projects to date.

Why do you think the Opportunity Zone program is important? What do you think it can achieve?

The OZ program is serving as a bridge to places that have historically been underserved and are in need of capital investment. Our funds are focused on creating transit-oriented work/live/play mostly multifamily developments that are positive catalysts for job growth in these communities. It is important to observe both the letter and spirit of the Opportunity Zone legislation. When this is done there can be true impact to the neighborhoods. Bridge is proud to be able to include an affordable housing component to our developments whenever possible, and to develop with the highest environmental standards possible.

What impact did you see the pandemic have on the OZ industry? How did it impact your business?

Many lenders pulled out of the construction lending space for a time. Rents in urban environments fell impacting appraisals and constraining proceeds. Despite this, Bridge was able to close on 14 construction loans totaling $890 million. 

What are some current trends you are seeing in the OZ market?

A bigger push to more suburban markets as well as some alternative asset types such as Single Family Rentals.

What are your thoughts about increasing the reporting requirements in the OZ industry?

Managers with a fair amount of OZ investments will have to figure out how to scale the ability to keep up with the reporting.

What are you most looking forward to being one of the distinguished ATP judges? 

Seeing the variety of projects and how people view OZs in different parts of the country.


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