Solmar St. Pete OZ Fund Overview
Solmar St. Pete OZ Fund features a Class A luxury high-rise is a $121 million development located in a prime downtown Opportunity Zone, offering a rare combination of high-end real estate and powerful tax advantages.
With a target raise of $30 million in Opportunity Zone equity, the project is projected to deliver a 20%+ after-tax IRR and a 3.49x MOIC to investors. In addition to deferring and potentially eliminating future capital gains, investors benefit from significant depreciation tax losses with no recapture.
Fund Overview
- Target Capital Raise: $30M in OZ investments
- Minimum Investment Amount: $250,000
- Accredited investors only
- Projected Return: ~20%+ IRR
- Qualified Opportunity Zone Fund with OZ Tax Benefits
What Makes Downtown St. Pete an Ideal Location
Downtown St. Pete is supply constrained by highways on three sides. Solmar St. Pete is just two blocks from Central Ave, the main commercial corridor. It is within walking distance to restaurants, shopping and entertainment destinations, parks, museums and waterfront attractions. Downtown St. Pete is close to multiple employment hubs in tech, defense, logistics, financial and healthcare and features #1 Beach in the US with an average annual temperature of 83F, offering a great lifestyle for residents.
Notably, due to a recent slowdown in new multifamily projects, we anticipate a faster absorption when completed.
Our Track Record
With a proven track record in fund and asset management since 2009, Sinatra & Co. currently manages more than $700 million in real estate assets, including over 4,000 multifamily units throughout New York, Florida, and Illinois. The firm’s disciplined investment strategy, combined with its commitment to long-term value creation, has earned the trust of a diverse and sophisticated investor base. In fact, Sinatra & Co. has successfully exited projects totaling over 3,000 units and averaging a 21%+ IRR for investors. Institutional partners include Stolar Capital, Oaktree Capital, Pensam Capital, Pearlmark Real Estate, Auerbach Opportunity Funds, and multiple family offices.
Contact us to learn more or to request fund materials.