But New York-based Cadre isn’t that interested in steering its investors to the poorest, most-downtrodden areas that the program seeks to revitalize.
Cadre tells investors in marketing materials that it doesn’t plan to look for development deals in most of the Opportunity Zones because of their “unfavorable growth prospects.”
Cadre says it’ll target a “small subset” of zones where both populations and incomes are on the rise.
Kushner holds at least a $25 million, nonmanagement stake in Cadre.
It’s a high-profile example of how early investor interest in the program appears focused on wealthier zones that already have attracted plenty of investment.