Puerto Rico OZ Fund invests in agri-tech and renewable energy

The Puerto Rico Opportunity Zone Fund, also known as LP (PROZ), is putting money in Fusion Farms, which is known for its agriculture-based technologies and innovation in the island, according to the asset management firm Monollor Capital Partners (MCP). The company offers hurricane-protected solutions that could improve agricultural yield by 12 times with just 10% of the water used in traditional farming methods.

LP is also making its first investment in the renewable energy firm, MSI Solar Corp., according to Monllor Capital Partners LLC (MCP). The private equity firm LP (PROZ) is known for ESG investing in OZs across Puerto Rico while MSI Solar Corp. is said to be leading the way forward in green energy projects in the Caribbean Island where renewable energy production is below 3%. LP aims to invest $20 million in QOZB in Puerto Rico.


New United Cities and Caliber OZ Fund launched

United Cities North America (UCNA) and the asset development company, CaliberCos Inc. -- also known as Caliber, have launched the United Cities and Caliber Opportunity Zone Fund. Caliber will also be the developer of the UNCA's new North American headquarters in Scottsdale city in Arizona that will include a university and industrial lab. United Cities is a global program that partners with UN agencies and foreign organizations to create smart cities and communities.


New hotel, entertainment complex planned on Miami OZ space

Developer MV Estate Holdings and Driftwood Capital have announced that the firms will jointly build a hotel and an entertainment complex on an Opportunity Zone designated site along the Miami River. The project, known as Riverside Wharf, will comprise of two 10-story tall buildings, one of which will house the 165-key Dream Miami hotel while the other will have the planned entertainment complex. The project is planned to be finished by 2025.


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