Propel Opportunity Fund Inc. (www.propelopfund.com) is leading the charge with its preeminent qualified opportunity fund with its headquarters in Macon, Georgia. Propel Opportunity Fund was founded by, two-time National award winner, Frank Austin Jr. and co-founded by, Presidential Lifetime Achievement recipient, James Frank Austin III. Propel Opportunity Fund center of interest encompasses opportunity zones nationwide. The 450 Million dollar fund officially opened to investors as of December 17, 2018. Frank Austin and team has strategically developed lucrative exit strategies for investors through a corporate structure and strategic plans with uninterrupted positive impact to distressed communities and cities as a whole.
The Propel Fund has a strong focus in maximizing investor’s return in distressed neighborhoods. We believe that distressed communities pose many unique challenges and our team is nationally recognized for being an expert in distressed communities. We strive to create projects that will entice investors to achieve 100% capital gain tax deferment by remaining a strategic partner for 10 years. Our social purpose is to empower distress communities by deploying strategies that yield returns for investors, that create self-sustaining infrastructures and minimizing displacement.
“We will invest in all asset classes within the specific Opportunity Zones that we are pursuing, much of which will be a substantial value add and opportunistic investments,” Frank Austin said. In addition, we have a partnership with NES Financial to ensure transparency, which is coupled with compliance with IRS and an executive team with over 50 years of combined experience in law, forensic accounting, auditing and taxation. Our priorities are to ensure we are within compliance while creating genuine returns and changing the world.
In addition, Propel has identified a unique opportunity in the Puerto Rico market and is slated to deploy a minimum of $100 million dollars into the island. In fact, Propel and team is confident in the returns for investors that a new fund is in the works specifically for the Puerto Rico market and is anticipating a fund size of $450- $700 million dollars heavily dictated by investor demand. “Our strategy is to ensure we have the best portfolio of projects for our investors and Puerto Rico has many other tax advantages outside of what the OZ program offers. This is an 86.8 billion dollar market resulting from relief funding from federal and private sources due to Hurricane Maria. We plan to take the lead on the ground,” says Co- Founder James Austin. In addition, Propel founders Frank and James Austin will be speaking in Condado Puerto Rico at the OZ19 Puerto Rico Opportunity Zones Investors Conference on January 30 to discuss their plans and vision for the island. Propel has already begun identifying real estate opportunities for development and is being advised by local business leaders led by OZ19 organizer and entrepreneur Ricky Santana.
“This is a historic opportunity that seldom presents itself,” Frank Austin said in a statement. “It is a unique chance for investors to receive significant tax savings while investing in real estate located in communities that Propel Opportunity Fund Inc. (www.propelopfund.com) has identified as exhibiting strong growth potential. It is also a chance for our investors to further diversify out of traditional investments such as stocks and bonds and into a broad array of investments including commercial real estate, housing, and infrastructures and even existing and start-up businesses while also earning the additional return boost due to the tax savings of the [Opportunity Zones] program. Our goal is to increase the quality of life for the citizens of Puerto Rico and ensure that there is a new sense of hope instilled in the hearts of the communities. The storm did major damage, but we believe that better days are ahead for the island. We strive to create a long term relationship with the citizens of Puerto Rico and ensure that job creating is the focus on our developments.”
Propel Opportunity Fund Inc.
Frank Austin and Team