Former NJ Gov. Chris Christie wants to raise $150M Opportunity Zone fund

The former NJ governor has a property investment fund

TRD TRI-STATE /
May.May 09, 2019 09:30 AM
Chris Christie (Credit: Getty Images)

Chris Christie (Credit: Getty Images)

Chris Christie is getting into real estate.

The former New Jersey governor has co-founded a property investment fund with his wife, the Wall Street Journal reported.The aim is to raise $150 million.

The fund looks to take advantage of Opportunity Zones, which is a federal program that gives tax breaks for development in low-income areas. The zones are part of the tax overhaul and allow investors to defer capital-gains taxes by investing in qualifying real estate projects.

Christie is a senior adviser, sources told the Journal, while his wife, Mary Pat Christie, is executive vice president. The Christies started the fund, known as Hampshire Christie Qualified Opportunity Fund LLC, with Hampshire Cos., a real-estate investment firm founded by Christie’s longtime ally, Jon F. Hanson.

He joins other former government officials who are eyeing the program. Anthony Scaramucci, who briefly served as White House communications director in 2017, has launched an Opportunity Zone fund through his investment firm, SkyBridge Capital. One of the architects of the program, the former Obama administration senior economic adviser Steve Glickman, runs an Opp Zone advisory business. [WSJ] — Meenal Vamburkar


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
Opportunity Zone investors received an extension from federal government because of Covid-19

Opportunity Zones investors get a Covid-19 lifeline

Opportunity Zones investors get a Covid-19 lifeline
Design experts: These office solutions will slow Covid’s spread

Design experts: These office solutions will slow Covid’s spread

Design experts: These office solutions will slow Covid’s spread
From left: Steven Rockefeller Jr., Wayne Morrison, and Florian Haffa

Past the pandemic: Rockefeller family pitches global luxury development projects

Past the pandemic: Rockefeller family pitches global luxury development projects
(Illustration by Matt Chinworth)

Real estate activity in suburbs catches second wind in Covid era

Real estate activity in suburbs catches second wind in Covid era
Don Peebles: A leader’s role “is to look at things in balance”

Don Peebles: A leader’s role “is to look at things in balance”

Don Peebles: A leader’s role “is to look at things in balance”
arrow_forward_ios

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

Loading...