The Masses Are Drawn Toward Funds Chasing Real Estate Tax Breaks
- Bridge Investment opportunity zone fund said to draw hundreds
- Fundraising shows investors are committing after rules posted
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The wealthy masses are starting to bet their money on a new U.S. tax break after more than a year of indecision.
The latest data point: Bridge Investment Group announced Tuesday it has $509 million that it is deploying in projects in opportunity zones. The money was gathered from about 500 investors, according to a person with knowledge of the matter, who asked not to be identified discussing the private fundraising. The minimum investment was $250,000, but average check size was closer to $1 million, the person said.