Kingsbarn Capital and Development acquires multi-family development property in Carson City, Nevada

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Las Vegas, Nevada – Kingsbarn Capital and Development, the development company of Kingsbarn Realty Capital (“Company” or “Kingsbarn”) has announced the acquisition of 6.12 acres of legal land in Little Lane and Janas Way in Carson City, Nevada (the “Property “). Kingsbarn intends to break ground on the multi-family development site in July, which will include 140 garden-style apartment units for the currently restricted market of Carson City. Kingsbarn anticipates letting to begin a year later, with 95% occupancy expected by spring 2023.

The property is located in a federally declared opportunity zone that offers investors a unique opportunity to benefit from the Tax Cuts and Jobs Act, enacted December 22, 2017. Investment should the investment be held for at least 10 years.

“This is a well-positioned apartment building in a fast growing community where housing is scarce. The property has a great frontage along Little Lane and is just blocks from the Nevada State Capitol. We expect this property to provide our investors with stable cash flow for the years to come, ”said Jeff Pori, CEO of Kingsbarn.

The company will offer the investment stakes in the property through a newly established Qualified Opportunity Zone Fund. Approximately US $ 10,000,000 of investment capital is offered in this Q-Zone Fund. As a sponsor, Kingsbarn will provide approximately 40% of the equity required for the project.

About Kingsbarn Realty Capital

Kingsbarn Realty Capital is a private equity and real estate development company based in Las Vegas, Nevada. Kingsbarn structures its real estate investment opportunities for both fractional 1031 investors and offers bespoke portfolio solutions for large investors. The Kingsbarns management team has extensive experience developing, managing, operating and sponsoring a diversified portfolio of stabilized, income-driven properties. Kingsbarn has acquired and currently operates over $ 500 million in commercial real estate in the United States. In 2020, Kingsbarn Capital and Development was founded as a development arm of the company to expand its investor product offering to include real estate investment development from the ground up and to fund operational companies that need real estate solutions in the United States.

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