More than 100 funds have been launched to invest in designated Opportunity Zones, according to NCSHA’s latest Opportunity Zone Fund Directory released today. The 105 funds in the current directory represent nearly $24 billion in anticipated investment. Funds range in size from $1 million to $3 billion, with an average fund size of approximately $225 million. The latest edition of the directory includes 16 new funds and details on each fund’s size and investment and geographic focuses.
OZ Funds’ Target Sizes Range Widely
Commercial real estate continues to be the primary focus of Opportunity Funds formed to date, with 91 percent (96 of 105 funds) reporting investment in multifamily residential, student housing, mixed-use, hospitality, or other commercial development. The number of funds planning to invest in community revitalization, affordable housing, or workforce housing has increased to 57 percent (60 of 105), while 48 percent (50 of 105 funds) plan investment in economic development or small business development, and 21 percent (22 of 105 funds) plan to focus on infrastructure or renewable energy investment. Nearly all of the 105 funds report investment focus in multiple categories.
OZ Funds Mostly Target Commercial Real Estate 
Thirty-eight of the 105 funds plan to invest nationwide, while the remaining 67 funds are targeting specific states or regions. The West/Southwest region is the target of 17 percent of the funds (18 of 105), followed by the Northeast/Mid-Atlantic with 15 percent (16 of 105), the Southeast with 13 percent (14 of 105), and the Midwest with 7 percent (7 of 105). The remaining funds target multiple states and/or regions.
OZ Funds Are Spread Throughout the Country
NCSHA will continue to update the directory as additional Opportunity Funds are announced. To add a fund to the directory, please complete this form
Oklahoma Coalition for Affordable Housing 