Cantor, Silverstein Close 2nd Opportunity Zone Fund at Over $470M
Cantor Fitzgerald, L.P. and Silverstein Properties, Inc. have finalized fundraising for Cantor Silverstein Opportunity Zone Trust II, Inc. (CSOZ Trust II), securing over $470 million in equity. The fund is set to back four multifamily and mixed-use projects, totaling 1,932 residential units and 1.5 million square feet, spread across Tempe, AZ; Richmond, VA; Summerville, SC; and Huntsville, AL
The opportunity zone business was launched in early 2019 to invest in, develop, redevelop, and manage a diversified portfolio of institutional quality commercial real estate assets.
“We have seen strong investor interest in this business, enabling us to build a diversified portfolio of institutional-quality multifamily real estate,” said Bill Ferri, global head of Cantor Fitzgerald Asset Management. “We are optimistic about a potential extension to the overall Qualified Opportunity Zone Program to further drive meaningful growth.”
Roughly $1.1 billion has been raised across five closed Qualified Opportunity Zone Funds, encompassing the flagship funds CSOZ Trust I and CSOZ Trust II, alongside co-investment vehicles CSOZ Northern Boulevard, LLC, CSOZ 3.0 University Place, LLC, and CSOZ South Pier Tempe, LLC.
These five funds have 11 projects at different development phases, aiming to roll out 4,044 multifamily units—including 233 earmarked for affordable housing—and four million square feet in total. exceeding $2.4 billion in total estimated project costs.