Pacific Zephyr Fund I, L.P. is a single-asset qualified opportunity fund that will invest in the TEF Group Project, Peach Apartments, at 144, 158, & 174 Peach Ave in Fresno, California. Peach Apartments is a fully entitled multifamily project comprised of 129 units across five 3-story buildings. The project is expected to be completed in Q2 of 2022. The fund has a target annualized 10%-12% IRR over a 10-year hold period. The fund anticipates a refinance after stabilization which will allow a distribution to the investors to pay their 2026 deferred gain.
Pacific Zephyr is a collaboration between Pacific United Partners and Zephyr OZ to create a single-asset Qualified Opportunity Fund with a dedicated management team. Pacific United Partners brings decades of experience in real estate development and finance and has taken the project through the entitlement stage and will direct the construction of the project. Zephyr OZ specializes in opportunity zone creation and will provide structuring and operations advice to enable investors to receive the favorable capital gains tax benefits offered through the QOZ legislation. Pacific United Partners and Zephyr OZ have formed Pacific Zephyr Fund I, L.P. (“Fund”) The Fund’s GP is Pacific Zephyr GP LLC , a joint venture between Pacific United Partners and Zephyr OZ. The Fund will be managed by another Pacific United/Zephyr joint venture, Pacific Zephyr Management LLC. The developer, TEF Group, is an affiliate of Pacific United Partners and is a partner in the Fund’s QOZB alongside the Fund. This structure creates the framework necessary for the investors to receive QOZ capital gains tax benefits while ensuring that all parties involved in the project are invested in the long-term success of the Fund.
Zephyr OZ: www.zephyroz.com
TEF Group: www.tefgroupinc.com
For more information please contact Elizabeth Humphreys at
ehumphreys@zephyroz.com or (646) 275 2896
Pacific Zephyr does not offer legal, investment, tax or other professional advice, and nothing in this website is intended to be construed as offering any such advice. Viewers are encouraged to consult with their own legal, investment and tax advisors regarding the subject matter of this website.
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