Co-Star, a premium custom information services provider for the real estate industry, profiled McGuireWoods’ cross-practice national opportunity zone development team for its regular “Did You Hear” column featuring movers and shakers in commercial real estate.
The team, a collaborative venture of McGuireWoods and McGuireWoods Consulting, helps investors, developers and lenders participate in opportunity zones created by the 2017 federal tax law as an incentive to develop distressed areas.
The coverage noted partner Greg Riegle, who co-leads the law firm’s real estate capital markets industry group; partner Doug Lamb, leader of the firm’s public-private partnership initiative; and McGuireWoods Consulting senior vice president and economic development and infrastructure team leader Chris Lloyd.
The team serves client interests in leveraging the tax benefits of opportunity zone investments, the May 1 story said.
“There’s certainly good market awareness of the program,” Riegle told Co-Star. “We were not wanting for interest at all.”
Lloyd said the benefits of the federal tax advantages are especially good if paired with state and local incentives, which can create some very attractive opportunities.