OPAL Fund I
Portfolio
The OPAL Fund (“Fund I”) is a ~$19M Qualified Opportunity Fund with a double bottom line focus on offering attractive returns for investors while meeting expressed community needs and creating pathways to opportunity for underrepresented Alabamians. It is invested in six deals across Alabama - three in Huntsville, two in Birmingham, and one in Macon County. Fund I closed for outside investment on December 31, 2021, and is currently fully deployed into deals like the ones described below.
700K+
Rentable SqFt of New Development
800+
New Housing Units
$220M+
Total Deal Capitalization
R.E.A.L Park
Located along the I-85 industrial corridor between the largest Hyundai and Kia manufacturing facilities in North America, “R.E.A.L” Park is a transformative, multi-phased 640 acre industrial development. OPAL Fund is the lead equity investor in the 168k RSF industrial spec building within the Park, which is projected to bring 100+ jobs to a historically under-served community.
Anthem House
Anthem House is a $100M+ new construction mixed-use development that will bring over 300 units of housing at accessible price points and 67,000 SF of commercial space to MidCity, a multi-phase development project on a formerly abandoned mall site in northwest Huntsville. OPAL Fund is partnering with a large national OZ investor to provide the equity for the project.
Market Lofts
Market Lofts on 3rd is an adaptive reuse of Birmingham’s American Red Cross building into 192 units of workforce housing and 4,000 RSF of retail space, led by a woman-owned general contractor and with 35%+ MWBE participation on the project. 100% of units are priced as “workforce housing” (affordable at 80-120% of AMI), made possible through state and federal Historic Tax Credits. OPAL is the lead equity investor in the deal.