Opportunity Zone Fund
NORF Launches NORF 4 OZF
Following the success of NORF's prior funds, and due to strong client demand, NORF launched the NORF 4 Opportunity Zone Fund. NORF is excited to leverage Its unique expertise investing in and revitalizing neglected buildings in underserved and up and coming areas.
NORF's targets mainly secondary and tertiary markets, where valuations are reasonable and economic conditions favor growth. NORF has identified and/or acquired properties in diverse locations including Louisiana, Texas, Georgia, Iowa, and others.
NORF maximizes the value of each investment by employing multiple complex and nuanced tax strategies that improve cash flow and overall return. Some of these tax programs include:
Federal and State Historic Tax Credits
Restoration Tax Abatements
Energy Efficiency Studies (179D & 45L)
Cost Segregation and Asset Disposal Studies
Height and Façade Easements
NORF focuses on a variety of property types including multi-family, STR/hospitality, mixed-use and commercial.
The former Carlton Hotel, a 115,000 square foot building commands an optimal location in downtown Tyler, TX on the corner of East Elm and Broadway. This vacant and blighted property is NORF’s first large-scale QOZ investment in Tyler. NORF plans to restore and convert the Carlton into mixed-use multi-family housing with over 100 residential units, multiple commercial spaces, and a roof top pool and cabana. Given Tyler's recent growth, due in part to the announced development of the UT at Tyler Medical School, NORF believes the renovated building will be attractive housing for students, faculty/staff and the greater Tyler community.