BISNOW: A year-end deadline for tax benefits and more clarity made 2021 a banner year for the opportunity zones program, with $6.9B invested in qualified opportunity funds in the latter half of the year, up 39% from the first half of the year, new data shows.

Opportunity Zone Magazine selects Alex Bhathal of RevOZ Capital as Top 25 OZ Fund Manager.

THE SAN DIEGO UNION-TRIBUNE: Development teams are attempting to wow local leaders with proposals that promise thousands of homes for people of all income levels and a world-class sports arena.

Real estate investors and analysts are abuzz about the upcoming impacts of persistent inflation and rising interest rates. But while tracking the spread between treasuries and cap rates provides solid insight into the broader economic landscape, it’s not a tell-all indicator that many assume.

ORANGE COUNTY BUSINESS JOURNAL: Cherry Tree Offshoot Adds 3 Complexes

Members of team Revitate attended the 18th Annual IMN Winter Forum on Real Estate Opportunity & Private Fund Conference at the Montage Resort in Laguna Beach this January.

THE SAN DIEGO UNION-TRIBUNE: San Diego County Building and Construction Trades Council, which represents 30,000 construction workers, has endorsed the Toll Brothers-led team.

Revitate Cherry Tree has purchased its first three assets as a part of its debut multifamily fund launched in October 2021, which aims to acquire both workforce housing and value-add investments throughout the Midwest and Sunbelt.

KANSAS CITY BUSINESS JOURNAL: Two Kansas City brokers completed the sale of a 280-unit multifamily portfolio in Kansas City for $42.5 million to an investment company based in Newport Beach, California.

RevOZ Capital Q4 Closings

OB RAG: There are 5 remaining redevelopment teams bidding to take on San Diego’s 48 acres of city-owned land around the sports arena in Midway District.

SAN DIEGO UNION-TRIBUNE: The Midway Village+ team will submit a bid for San Diego’s sports arena site with a substitute taking over arena development.

REFI: RAJ Capital expects to bring new emerging managers and initiatives in the next few months

ORANGE COUNTY BUSINESS JOURNAL: Newport Beach’s Bhathal family, best known for apparel manufacturer Raj Swim and as co-owners of the NBA’s Sacramento Kings, said they are shifting their family office into a new scalable investment platform open to outside investors.

THE REGISTRY SF: After serving the Irvine Company’s Apartment Development Division for nearly a decade, Chris Marsh has announced plans to launch Cherry Tree Capital Partners, a multi family-focused real estate investment company.

ORANGE COUNTY BUSINESS JOURNAL: Workforce Housing Focus for Cherry Tree

FORBES: An owner of the Sacramento Kings is driving hard into the Opportunity Zone market. RevOZ—an investment arm of the Bhathal Family, which parlayed their swimsuit business into a real estate empire and stake in the Kings—plans on investing roughly $250 million into OZ projects over the next few years. The capital follows the $125 million RevOZ has already plowed into OZ investments, including apartment complexes in Sacramento, a healthcare center in San Bernardino, CA, and an eco-friendly hotel in Redmond, Oregon.

Mixed-use redevelopment is firm’s latest bid to leverage federal tax incentive to stimulate new economic and community benefits in historically under-invested communities.

BISNOW: The co-owners of the Sacramento Kings basketball franchise are betting big on opportunity zones, but won't be putting much money into their home state of California.