Opportunity Zones

Sullivan & Worcester’s interdisciplinary team of lawyers is at the forefront of providing legal advice and services to complex Opportunity Zone (OZ) projects and sophisticated clients. Sullivan provides structuring and compliance advice to scores of OZ projects and clients, including:

• formation of Qualified Opportunity Funds
• conversion of operating businesses to Qualified Opportunity Zone Businesses (QOZBs)
• ongoing compliance and operations guidance for QOZBs
• the structuring the acquisition and development of real estate projects and operating businesses

As a national leader in OZ transactions, Sullivan has advised clients:

• in the formation of dozens of Qualified Opportunity Funds
• in the raising and deployment of more than $1 billion through Qualified Opportunity Funds

• in the structuring and execution of more than $3 billion in Opportunity Zone projects

Sullivan’s interdisciplinary approach, including attorneys from the firm’s corporate, fund formation, tax, and real estate practices, allows Sullivan to work closely with clients across the country and analyze how to implement OZ benefits into various business strategies. Sullivan’s OZ team routinely collaborates with venture capital/growth equity firms, family offices, real estate investment firms, entrepreneurs, real estate developers, and fund sponsors.

Sullivan routinely handles significant, unique, and groundbreaking OZ projects and has earned a reputation for creative application of the Opportunity Zone legislation, including the following OZ projects: traditional private equity investments in technology, manufacturing, biotechnology, pharmaceutical, energy, logistics, and food services companies; restructuring professional sports teams and acquiring and developing stadiums; executing multi-stage, multi-parcel, mixed-use real estate developments; advising public/private partnerships involving rapid transit public transportation; pioneering a “cash recycling” approach for venture capital and growth equity funds; and creating acquisition and compliance strategies for complex investment targets, including a mining company, a chain of regional grocery stores, and one of the largest floating dry docks in the United States.

As investors seek to realize recent capital gains and legislators contemplate expanding the OZ program, it is clear that the market now supports ambitious OZ projects. Sullivan’s OZ team is ready.