Silverstein Properties, a full-service real estate development, investment, and management company, and Cantor Fitzgerald, L.P., a leading global financial services firm and real estate investment company, have entered into a joint venture focused on acquiring and developing real estate projects located in Opportunity Zones, as defined in the 2017 Tax Cuts and Jobs Act.
Cantor Fitzgerald and Silverstein Properties have significant collective experience across all aspects of commercial real estate including acquisition, development, asset management, underwriting, and leasing as well as financial and market analysis. This experience is critical in developing a successful Opportunity Zone strategy. The joint venture targets investments in Opportunity Zones with third-party developers, as well as large-scale projects where Silverstein Properties is the developer. Such investments may include retail, office, industrial, hospitality, and multifamily developments located in Opportunity Zones in major metropolitan markets.
Larry Silverstein began his real estate career in 1957 while Cantor Fitzgerald was founded by Bernie Cantor in 1945 and has been led by Howard Lutnick since 1996. These long-tenured leaders have worked closely together over the years as they've grown their businesses. Notably, the two firms share a historical connection to the tragic events at the World Trade Center and the two leaders played central roles in the recovery that followed. This joint venture is a natural extension of the companies' shared history, as it underscores both firms' long-standing commitment to rebuilding.
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