Normandy Real Estate Raising Fund to Invest in Poor Areas
“Real estate investors are rushing to take advantage of incentives for investing in low-income areas under last year’s U.S. tax overhaul. Joining the mix: Normandy Real Estate Partners LLC, a firm that once owned Boston’s John Hancock Tower. Morristown, New Jersey-based Normandy has started raising a $250 million fund to make investments in ‘opportunity zones,’ according to people familiar with the matter, who asked not to be identified because the information is private.”