Ejf Capital And Crimson Canyon Close $23.4 Million Construction Loan For A Warehouse In The Accelerating Phoenix Market

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EJF Capital LLC is a global alternative asset management firm headquartered outside of Washington, D.C. As of March 31, 2021, EJF manages approximately $6.0 billion across a diverse group of alternative asset strategies. The firm was founded in 2005 by Manny Friedman and Neal Wilson. Since inception, EJF has focused on regulatory event-driven investment themes including its strategy to invest in Opportunity Zones. EJF formed the EJF OpZone Fund I LP and the EJF OpZone Fund II LP (the “Funds”) to take advantage of certain benefits provided by the TCJA. Benefits to U.S. taxable investors include the ability for investors to (1) defer the recognition of recent capital gains for federal income tax purposes until 2026 (treatment of capital gains varies by state), (2) reduce the amount of capital gains recognized in 2026 by 10% (for investors investing by 2021), and (3) eliminate any federal capital gains tax generated from investments in the Funds (for investors in the Funds at least ten years). EJF’s first OpZone fund holds five completed projects including: a multifamily apartment complex in Washington, D.C., Jacksonville, FL, and Vancouver, WA; one hotel development in Oakland, CA and two industrial buildings in a multi-phase industrial park in Hardeeville, SC (near Savannah, GA MSA). In total these projects represent over $600 million in total estimated project costs with $219 million of equity being invested by EJF OpZone Fund I LP. If you would like more information on the Fund, please visit http://ejfopzone.com or http://ejfcap.com, or contact EJF Investor Relations at investorrelations@ejfcap.com.