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Alternative Assets  + Real Estate  |  July 7, 2026
Madison Capital Launches $36M OZ Fund for Reno Hotel Redevelopment
Joe Palmisano
By: Joe Palmisano

Madison Capital Launches $36M OZ Fund for Reno Hotel Redevelopment

Madison Capital Group has launched Madison Reno Hotel QOF, LLC, a qualified opportunity fund aimed at redeveloping a landmark hospitality property in downtown Reno. The vehicle will focus on repositioning the original Harrah’s Resort and Casino into a premium Class A hotel with about 292 guest rooms and full-service amenities.

The fund is targeting roughly $36.2 million in capital commitments from accredited investors. It is structured to offer eligible participants the potential tax benefits associated with qualified opportunity zone investing, including deferral of certain capital gains and the potential elimination of taxes on future appreciation for investments held at least 10 years. The minimum investment is $50,000.

“We believe the Reno market presents a compelling combination of favorable demographic trends, tourism demand, business migration and long-term redevelopment potential,” said Ryan Hanks, chief executive officer of Madison Capital Group Holdings.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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