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3 Family Offices Actively Seeking Opportunity Zone Investments


In utilizing the FINTRX family office data and research platform, which provides intel into thousands of direct deal transactions made by 3,000+ family offices worldwide, we explore three family offices actively seeking to capitalize on opportunity zone investments.

What are Opportunity Zones? 

Explained in full on the IRS website, opportunity zones are a community development program created under the Tax Cuts and Jobs Act of 2017 (Public Law No. 115-97). Thousands of low-income communities in all 50 states, the District of Columbia and five U.S. territories are designated as qualified opportunity zones. Opportunity zones are an economic development tool that allows people to invest in distressed areas in the United States. Their purpose is to spur economic growth and job creation in low-income communities while providing tax benefits to investors. Low-income communities and certain neighboring areas, defined by population census tracts, can qualify as opportunity zones. States nominate communities for the designation, and the U.S. Department of the Treasury certifies that nomination. Taxpayers can invest in these zones through qualified opportunity funds.

What is an Opportunity Fund?

A qualified opportunity fund is any investment vehicle organized as a corporation or partnership with the specific purpose of investing in opportunity zone assets. The private sector is responsible for establishing opportunity funds.


1. Falcone Group

Founded in 2004, Falcone Group is a Boca Raton, Florida-based single family office managing the wealth of Arthur Falcone and his family. Falcone created his wealth through the ownership and operation of several health clubs, hotels and restaurants in New York and Florida. Throughout the 1980's and 1990's, Falcone acquired and operated numerous major brand franchises including Days Inn Hotels, Jack LaLanne Health Clubs, McDonalds, Fatburger and Wendy's chains. In the late 1990's, Falcone began developing single family residential properties through his holding company, Transeastern Homes, Inc. In 2004, Falcone Group was founded after the sale of Transeastern for $1.6B. The firm actively allocates to opportunities within the real estate industry. The Falcone Group takes an opportunistic approach participating in acquisitions, development and planning of large scale residential real estate properties. The group allocates both directly and via fund opportunities. The Falcone Group actively seeks to capitalize on opportunity zone investments, targeting raw land and completed housing properties. Geographically, the firm allocates throughout the United States with a primary focus in Florida, mainly in the Miami area. Check sizes vary depending on the project. 


2. Cox Capital Group 

Founded in 2013, Cox Capital Group is a New York, NY-based multi-family office with an additional office in London, UK. Cox Capital serves high-net-worth and ultra-high-net-worth multi-generational families that accumulated their wealth in a number of industries including real estate, health services, pharmaceuticals and technology. The firm serves families across the globe, providing them with investment and portfolio management, inheritance planning, risk management, tax planning, administrative services, accounting, legal services and more. Cox Capital Group is active in both public and private markets across a range of regions, industries and asset classes including public equity, fixed income, real estate, private equity, direct investments and other alternative strategies. The firm also makes impact investments and is actively seeking new opportunities in the space, including opportunity zone investments. Additional sectors of interest include biotechnology, telecommunications, energy & power plants, hospital developments, among others. Cox Capital Group also operates as an investment bank. 


3. Lancaster Investments 

Lancaster Investments is a Madison, WI-based single family office serving as the investment vehicle for its Managing Director, Jon Lancaster. Throughout his career, Lancaster founded, bought, operated and sold a number of domestic and import car dealerships such as Lexus and Toyota, which he sold to a public Fortune 500 company for an undisclosed amount.  Founded in 2011, Lancaster Investments has three main areas of investment focus: startups, real estate and qualified opportunity zones. When investing in real estate, the firm focuses primarily on housing, multi-family storage, hotel and retail spaces. Its real estate portfolio consists of holdings in Wisconsin, Ohio, Iowa, and Nevada. Lancaster seeks direct investments in early-stage businesses across industries including healthcare, automotive, technology, business services, logistics, manufacturing, medical, community, transportation and shipping. The firm also allocates to venture capital funds, and currently has four venture capital fund commitments.

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