Anthony Scaramucci on his Opportunity Zone fund’s $2B deal pipeline

TRD NATIONAL /
Jan.January 06, 2019 12:00 PM

SkyBridge Capital founder Anthony Scaramucci claims his Opportunity Zone fund has $2 billion worth of deals in its pipeline.

Scaramucci appeared on a segment broadcast by Fox Business Network on Friday to talk about the economy, the federal Opportunity Zone program and his hedge fund’s recently-launched fund, which will be structured as a REIT and will focus on investing in Opportunity Zones.

SkyBridge’s Opportunity Zone REIT, known as SOZ REIT, is the highest-profile entity to tap into the Opportunity Zone program using a REIT structure. It is being managed by sub-adviser EJF Capital and is seeking to raise $3 billion.

During the Fox segment, Scaramucci said SkyBridge plans to the make the REIT public and claims the entity’s pipeline included deals across the country that would require estimated investment of between $5 million to $35 million “to get the game started.”

He noted that to qualify for the federal program, SOZ REIT will be purchasing properties in designated Opportunity Zones and then making capital improvements. He mentioned a port in South Carolina and hotel in San Francisco as two examples of SOZ REIT’s projects. [Fox News] — Erin Hudson

Anthony Scaramucci is attending The Real Deal’s upcoming executive summit, Future City 2019, in the Bahamas later this month.


Related Articles

arrow_forward_ios
Census tract 135 and Stellar Management's Larry Gluck (Credit: Getty Images and Stellar Management)

How a small stretch of land on the Far West Side became an Opportunity Zone

How a small stretch of land on the Far West Side became an Opportunity Zone
CrowdStreet CEO Tore Steen and vice president Darren Powderly (Credit: CrowdStreet and iStock)

Crowdfunding platform launches $20M Opportunity Zone fund

Crowdfunding platform launches $20M Opportunity Zone fund
From left: New York Governor Andrew Cuomo, New York State senator James Sanders Jr., and New York City Mayor Bill de Blasio (Credit: Getty Images, iStock, and NY Senate)

“This program will either be a boom or a bust:” State senator has plans to redesign Opportunity Zones

“This program will either be a boom or a bust:” State senator has plans to redesign Opportunity Zones
President Donald J. Trump and Democratic presidential candidate Joe Biden participate in the final Presidential debate (Getty)

At final presidential debate, talk of Opportunity Zones and “little tiny windows”

At final presidential debate, talk of Opportunity Zones and “little tiny windows”
With third-quarter earnings seasons just around the corner, REIT analysts took a look at the sectors of the industry that are most likely to benefit from a Joe Biden win or a Donald Trump win. (Getty; iStock)

Politics & property: How election results could affect REITs

Politics & property: How election results could affect REITs
Silverback's Josh Schuster and 580 Gerard Avenue (Google Maps) 

Silverback plans 200-unit South Bronx Opportunity Zone project

Silverback plans 200-unit South Bronx Opportunity Zone project
Charles Rettig, Commissioner of the IRS (Getty)

Opportunity Zone rule change seeks to entice foreign investors

Opportunity Zone rule change seeks to entice foreign investors
Fed Board Governor Lael Brainard (Getty, iStock)

Fed wants banks to step up lending in low-income areas

Fed wants banks to step up lending in low-income areas
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...