Seyfarth’s client, Sound West Realty Capital, has won top honors from GlobeSt.com and Real Estate Forum at the GlobeSt.Adapt Opportunity Zones Awards 2019. The Sound West OZ Fund 1, Marina Square project was named the top Qualified Opportunity Fund in the country in the category of “Economic Revitalization and Social Impact.”
Seyfarth represented Sound West in the design and implementation of the Marina Square project as a Qualified Opportunity Fund. Sound West OZ Fund 1 was among the first syndicated Opportunity Zone Funds to come to market after the introduction of the Opportunity Zone program as part of the Tax Cuts and Jobs Act in December 2017. Marina Square is planned for the downtown Bremerton, WA waterfront and is directly adjacent to a fast ferry service to downtown Seattle, and includes a new hotel, restaurant/bar, and apartments in two, 6-story towers above 3-levels of subterranean parking.
GlobeSt.com and Real Estate Forum picked this year’s key projects and companies to celebrate. Those featured have had a hand in locating adaptive reuse solutions across the country or are working on key projects in Opportunity Zones across the country. GlobeSt. and Real Estate Forum collected nominations and choose key projects and companies across a number of fields. From innovative reuses of abandoned space, to historical preservations, to overall design, the projects—and companies involved—have made key impacts on the community; the innovation; the return on investment; the proven ability to achieve goals; and ingenuity in terms of creative thinking and problem solving. To view the full list of winners, visit here.