Salmanson Capital has paid special attention to the Opportunity Zone (OZ) program since it was created under the Tax Cuts and Jobs Act of 2017 and the designated areas were released in 2018. The unique relationship between OZ’s and Tier 1 Universities creates an incredible opportunity to invest in prime student housing adjacent to large Universities. The locations already possess strong demand, structuring as an OZ will only create an additional benefit. Salmanson Capital has used its comprehensive sourcing ability to identify many A+ OZ opportunities. To date, we have completed three OZ deals with a total of 1,500 beds. Salmanson Capital has immersed itself in the rules and regulations of the program, and has assembled a first rate team of legal (Greenberg Traurig) and tax experts (Novogradac) to assist us.
Salmanson Capital operates all of its properties through its affiliate management company, L3 Campus. We believe the best way to optimize our investments and operate our communities to our very high standard is to do it ourselves. The management company is led by Jamie Grant, who has over 15 years’ experience in all facets of student housing, from operations to acquisitions, at one point overseeing 15,000 beds for a large national student housing owner-operator before rejoining Salmanson Capital. With her combined ability and experience she oversees corporate and property operations, and has built a stellar team of dedicated professionals to manage the portfolio’s operations.
Salmanson Capital/L3 builds a brand name, one that identifies its collection of properties as the destination for students in that particular marketplace.