Joint venture aims to raise $60 million for build-to-rent opportunity zone projects in Georgia, Alabama
Posted on November 4, 2024 by Blake Backer

An Atlanta-based joint venture is looking to raise tens of millions of dollars for the development of three build-to-rent projects in several tax-advantaged opportunity zones across Georgia and Alabama.
Pinnacle Partners and Trilogy Investment have collaborated to launch the Pinnacle/Trilogy BTR OZ Fund, which is seeking at least $60 million from accredited investors for a 10-year hold period. Projects targeted by the fund are “shovel ready,” according to the firms, and are expected to result in the opening of 462 townhouses in Augusta, Georgia; Decatur, Georgia; and Huntsville, Alabama.
The federal opportunity zone program, created as part of the Tax Cuts and Jobs Act of 2017, is meant to encourage development in areas designated as economically distressed by deferring or eliminating capital gains taxes for commercial real estate investors.
The fund “will channel significant investments into underserved areas, foster community development and seek to offer attractive returns to investors,” Jason Joseph, CEO and managing partner at Trilogy, said in a statement.
The fund’s launch is timed to attract investors looking for tax-efficient strategies as they complete their end-of-year planning, according to executives from Pinnacle. It follows the joint venture’s closing of two build-to-rent projects financed through Pinnacle’s OZ Fund VIII that included a townhouse development in Charlotte, North Carolina, and a single-family home development in Avondale, Arizona.
Projects from Pinnacle and Trilogy’s latest fund are expected to include 45 market-rate townhouses in Decatur, a suburb of Atlanta; 245 workforce housing units 15 minutes outside Augusta; and 172 market-rate townhouses in Huntsville.
