Clearinghouse CDFI Closes First Opportunity Zone Development

LAKE FOREST, Calif., Dec. 5, 2019 -- Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today that it has closed on a 31-unit multi-family new construction project located in the Koreatown neighborhood of Los Angeles. This project is one of the first of its kind in the nation, as a CDFI-sponsored Opportunity Zone project. The financing structure included investments from two separate parties seeking capital-gains tax relief through the Opportunity Zone structure