Speaking at the CIP Industrial Summit were, from left to right, Peter Tsantilis of Liston & Tsantilis, Sam Isaacson of JCR Capital, Reggie Greenwood of Chicago Southland Development Corp., Howard Green of Meridian Design Build, Scott Howe of Solect Energy and Tom Johanson of ComEd Energy Efficiency/Image courtesy of Matt Baker of RE Journals
Last Friday, over 325 people went out to Oak Brook, Illinois to once again hear knowledgeable speakers discuss the hottest asset class this cycle: industrial. The 16th annual CIP Industrial Summit, hosted by REjournals, has become a trusted mainstay and this year’s attendees soaked in the expertise.
One of the day’s panel discussions focused on the opportunities and trends within industrial, everything from financing and Investing to design and management. The speakers concentrated on the changes to the Opportunity Zone program, applications for energy efficiency at industrial sites and the latest trends affecting new development and redevelopment alike.
Among the new information revealed as part of the Treasury’s latest disclosure, there was clarification that, though the capital invested in Opportunity Zones can be created anywhere, once placed in an Opportunity Zone the funds have to go into an approved fund.
“The first step up is this July so to get the full benefit, you have two months,” said Reggie Greenwood, deputy director, Chicago Southland Development Corp. “Once the money is in a Qualified Opportunity Fund, you can refinance it and take money out, but you have to put it into another Opportunity Zone … to maintain the tax shelter…” Please click here to read Matt Baker’s story in RE Journals.