Halpern Real Estate Ventures announced it has raised $30 million for its first opportunity zone fund.
Investors include a major institutional investor, two multibillion-dollar family offices and several other high-net-worth and ultra-high-net-worth investors, according to Jon Halpern, HREV’s founder, managing partner and CEO. HREV OZ Fund closed on commitments of close to $30 million toward a final target of $50 million.
Investors include the Wolfson Group, a family office that previously invested with Halpern.
HREV’s management team is providing 20 percent of the fund’s capital and intends to close the fund by July.
According to Halpern, the firm is currenlty negotiating a deal in the River North Art District in Denver (RiNo) for a mixed-use development combining offices, hotels and restaurants.