Alpha Opportunity Zone Fund Acquires Downtown Nashville Land for Development
Pittsburgh, PA (March 29, 2019) Alpha Capital Partners, a Pittsburgh-based real estate investment and development firm, through a joint venture has announced the acquisition of its first qualified opportunity zone project. Alpha Capital launched its Opportunity Zone fund with a target raise of $250 million in October 2018. 1501 Herman is a ground-up development project located in Downtown Nashville, Tennessee, within walking distance from Amazon’s Nashville Yards expansion, creating 5,000 new jobs in the area. The project is within the Marathon Village, a premier retail entertainment destination housing about 40 creative office tenants and generating significant foot traffic.
Jide Famuagun, CEO of Alpha Capital, said “Our team is excited about the opportunity in a prime location. Alpha’s development and construction teams are up and running with project execution and we are looking forward to delivering a 300-unit multifamily community in Downtown Nashville, a very strong growth market.