Underwriting OZ Deals and Utilizing Tax Credits

In this Masterclass, Anthony Cheng of Anchorvest breaks down the financial and analytical frameworks behind underwriting Opportunity Zone investments — from projecting tax-advantaged returns to stress-testing deal assumptions — while also exploring how layering in available tax credits can further enhance deal economics for investors, fund managers, and advisors.

What’s covered:

• Overview of the OZ investment lifecycle and key underwriting considerations
• Modeling deferred and reduced capital gains tax benefits across hold periods
• Assessing property-level fundamentals: NOI, cap rates, and return metrics in an OZ context
• Stress-testing assumptions around the 10-year step-up in basis and exit timing
• Identifying and stacking federal, state, and local tax credits to maximize deal returns