ATLANTA, GEORGIA - March 25, 2019 -   NitNeil Partners has structured a Qualified Opportunity Fund for its most recent self-storage project in Austin, Texas.  T he development partnership acquired the land parcel and established the Opportunity Fund shortly after the IRS released guidance on the new legislation in 2018.   By providing tax deferments and relief to investors, the Opportunity Zone legislation is designed to spur economic development, job creation and long-term investment in distressed neighborhoods across the U.S.

"We are pleased to be one of the first companies to structure an Opportunity Zone investment in the self-storage industry,"  said Neil Sapra, Managing Principal for NitNeil Partners.   "We're constantly looking for creative ways to deliver maximum value to our investors and development partners, while making a lasting impact on transitioning neighborhoods."