Monday, August 20, 2018

Sound West Group and Securities Veteran Greg Genovese Launch New Company in Seattle Focused on Qualified Opportunity Zone Funds



Greg Genovese

SEATTLE, WA– Sound West Group, a leading property developer and asset manager in Seattle, Washington, announced today the launch of Sound West Realty Capital, an investment firm primarily focused on the sponsorship of project-specific qualified opportunity zone funds, in partnership with securities and real estate investment industry veteran Greg Genovese.

Sound West Realty Capital’s opportunity zone investment strategy is the result of a comprehensive internal study initiated in March 2018 of the Tax Cuts and Jobs Act of 2017, which allows for the creation of opportunity zones in each of the 50 states.

The Sound West study determined that there are notable investor advantages and program structures available to best facilitate successful opportunity zone investments. The study also estimates that the demand for this type of investment program will be significant.

Wes Larson
Genovese, a 30-year veteran of the real estate securities industry, leads Sound West Realty Capital as principal and president. 

He has played pivotal roles in the creation and growth of some the country’s largest and most respected realty capital groups.

“The timing is right for us to take this next step as we’ve continued to grow our development and asset management business,” said Sound West Group Chief Executive Officer Wes Larson.

"We have built a reputation over many years of delivering above average returns for our investors while also providing socially responsible, investor-centric programs, and the launch of Sound West Realty Capital is a natural extension for our expertise.

“Our entry into the real estate securities capital markets is one we are well-suited and prepared for with Greg at the helm. I’ve worked with Greg for more than 20 years in the securities industry and he is a phenomenal leader. His proven abilities to create and grow realty capital companies that are best in class make this venture a great match.”

Jonathan Morris



Jonathon Morris, a professor in Georgetown University’s Master of Professional Studies in Real Estate program and a Sound West Realty Capital board member, said:

“I particularly like that Sound West is focused on project-specific programs supported by tax opinions.

"The tax advantages are outstanding, of course, and opportunity zone funds can be a real game changer, but I’ve always cautioned investors to not invest exclusively because of the tax advantages.

“Rather, invest because of your belief in the project, the demographic drivers, the management, and the exit strategies. History tells us that deals are successful because they are good deals and managed properly, period.”

For more information, please contact:

Jill Swartz
Spotlight Marketing Communications                   
949.427.1389 
jill@spotlightmarcom.com


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