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Real Estate Investment 2026Updated

List of Opportunity Zone Fund Managers for Real Estate Investment

Comprehensive directory of Qualified Opportunity Zone fund managers specializing in real estate development, including multifamily, commercial, mixed-use, and industrial projects across designated OZ tracts nationwide.

Available Data Fields

Fund Manager Name
Fund Name
Headquarters Location
Target Markets / States
Total Equity Raised
Asset Classes
Number of Projects
Property Types
Minimum Investment
Fund Structure
SEC Registration Status
Year Launched

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Fund ManagerHeadquartersTotal Equity RaisedAsset Focus
EJF CapitalArlington, VA$468MMultifamily, Industrial
Urban CatalystSan Jose, CA$331MMultifamily, Hospitality
Capital SquareRichmond, VA$230M+Multifamily, Mixed-Use
CaliberScottsdale, AZ$500M targetHospitality, Multifamily, Retail
Cresset-DiversifiedChicago, IL$1.2B+Multifamily, Office, Industrial

2,000+ records available for download.

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Opportunity Zone Fund Managers in Real Estate: Market Overview

Since the Tax Cuts and Jobs Act of 2017 created the Qualified Opportunity Zone (QOZ) program, over 2,000 funds have been established to channel capital gains into economically distressed communities. Real estate dominates this landscape—accounting for more than 77% of all tracked QOZ investment, with multifamily housing alone representing $22 billion in committed capital.

Program Expansion Under OBBBA (2025)

The One Big Beautiful Bill Act, signed into law in July 2025, permanently extended the OZ program and introduced significant new incentives:

FeatureOriginal ProgramOBBBA Update
Program DurationSet to expire 2026Permanent
Rural Investment BonusNone30% basis step-up (5-year hold)
Zone DesignationFixed tractsRolling 10-year designations
ReportingBasic Form 8996Enhanced requirements, up to $50K penalties

Investment Landscape by Asset Class

According to Novogradac tracking data, the $40.9 billion in tracked QOZ equity breaks down as follows:

Residential (Multifamily)
45.9% of total — $14.27 billion across 199,280+ housing units in 238 cities
Mixed-Use with Residential
31.4% of total — combining retail, office, or hospitality with housing
Commercial / Industrial
Remaining allocation across office, industrial, self-storage, and hospitality

What to Evaluate in a Fund Manager

Key due diligence factors when comparing OZ fund managers for real estate:

  • Track record: Completed projects vs. capital still in development pipeline
  • Geographic concentration: Single-market specialists (e.g., Urban Catalyst in San Jose) vs. national diversifiers (e.g., Cresset-Diversified across 50 states)
  • Fund structure: Single-asset vs. blind pool; open-end vs. closed-end
  • Compliance infrastructure: Post-OBBBA reporting requirements demand robust compliance teams
  • Exit strategy: 10-year minimum hold for full tax exclusion requires long-term asset management capability

Frequently Asked Questions

Q.How does this data differ from the Novogradac or IRS fund lists?

Our AI crawls public filings, fund websites, press releases, and industry databases at the time of your request, then structures the data into a single comparable format. Novogradac tracks voluntarily reported data, and the IRS only records Form 8996 certifications without fund details.

Q.Can I filter for fund managers accepting investments under $100K?

Yes. You can specify minimum investment thresholds in your request. The dataset includes minimum investment requirements where publicly disclosed, typically ranging from $25K to $1M depending on fund structure.

Q.Are these funds still eligible for the capital gains exclusion after OBBBA changes?

Yes. The OBBBA permanently extended the OZ program and maintained the 10-year capital gains exclusion. New rural opportunity funds (QROFs) also qualify for a 30% basis step-up after five years. Always verify current eligibility with a tax advisor.

Q.How current is the fund manager data?

Data is collected from public web sources at the time of your request using AI-powered web crawling. This means you get the latest publicly available information rather than a static database snapshot.

Q.Does the dataset include fund performance or return data?

The dataset includes publicly disclosed metrics such as equity raised, number of projects, and property types. Private fund performance data (IRR, distributions) is generally not publicly available and would not be included unless the fund manager has disclosed it.