Madison Capital Group has launched Madison Reno Hotel QOF, LLC, a Qualified Opportunity Fund seeking about $36.2 million from accredited investors to reposition the former Harrah's Resort and Casino in downtown Reno into a 292-room hotel. The property anchors Reno Revival, a 1.3 million-square-foot mixed-use redevelopment spanning multifamily, retail, office, and entertainment. CEO Ryan Hanks pointed to Reno's demographic trends, tourism demand, and business migration as the thesis, framing the fund as a tax-advantaged way to back a transformative hospitality asset. It is one of the first new QOF launches to surface as the OZ 2.0 era begins.
Original reporting by Daniel Cho for Opportunity Zone Invest, an independent OZ 2.0 research site. Facts are drawn from the primary sources cited above per our editorial standards. Nothing here is tax, legal, or investment advice.
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