Opportunity Zones
North Carolina Opportunity Zone Counsel for Investors, Developers, and Businesses
The Opportunity Zone program is a federal initiative designed to encourage long-term investment in low-income communities. The program offers significant tax incentives to investors who reinvest eligible capital gains into Qualified Opportunity Funds that invest in qualifying real estate projects or businesses located in designated Opportunity Zones.
Opportunity Zone investments can create meaningful tax benefits, but the rules are complex and continue to require planning. Investors must consider timing requirements, fund qualification rules, eligible property and business requirements, reporting obligations, and the long-term structure of the investment. Manning Fulton’s attorneys help clients navigate these issues with coordinated legal guidance across tax, finance, real estate, securities, and corporate law.
Manning Fulton advises clients on forming, structuring, and operating Qualified Opportunity Funds. Our attorneys help fund sponsors and investors develop Opportunity Zone investment structures aligned with their tax, business, and investment objectives. Our work includes:
- Structuring Qualified Opportunity Funds
- Advising on fund formation and governance
- Reviewing investment structures for compliance with Opportunity Zone requirements
- Coordinating tax, securities, corporate, and real estate considerations
- Advising on investor rights, fund documents, and operating agreements
Opportunity Zone investments often involve real estate development, business expansion, or operating businesses located in designated Opportunity Zones. Manning Fulton helps clients evaluate proposed investments, structure transactions, and address the legal issues that arise throughout the life of the project. Our attorneys assist with matters involving:
- Real estate acquisition and development in Opportunity Zones
- Investments in qualifying Opportunity Zone businesses
- Joint ventures and project-level agreements
- Financing and capital structure issues
- Due diligence for Opportunity Zone projects
- Exit planning and long-term investment strategy
Tax incentives depend on strict compliance with federal tax law. Manning Fulton helps clients understand the legal and regulatory requirements that apply to Qualified Opportunity Funds and Opportunity Zone investments. Our attorneys advise clients on:
- Capital gain reinvestment requirements
- Timing rules for Opportunity Zone investments
- Qualified Opportunity Fund asset requirements
- Compliance with the 90% asset test
- Federal reporting obligations
- Regulatory developments affecting Opportunity Zone investments
- Coordination with tax advisors and other financial professionals
As investments often involve multiple parties, significant capital commitments, and long-term holding periods, clear legal guidance is essential before capital is committed. Our attorneys assist:
- Fund sponsors creating or operating Qualified Opportunity Funds
- Investors evaluating Opportunity Zone investment opportunities
- Entrepreneurs seeking Opportunity Zone capital
- Real estate developers structuring Opportunity Zone projects
- Businesses locating, expanding, or operating in Opportunity Zones
Manning Fulton provides legal support designed to help clients move projects forward while managing risk. Our work includes:
- Drafting and reviewing transaction documents
- Advising on securities law considerations
- Negotiating investment and operating agreements
- Reviewing project risks and compliance obligations
- Supporting financing, acquisition, development, and exit transactions
Partner with Manning Fulton
Whether you are launching a Qualified Opportunity Fund, reinvesting capital gains, developing real estate in an Opportunity Zone, or growing a business in a designated community, Manning Fulton’s attorneys can help. We provide coordinated legal guidance and a clear strategy from the start.
Who We Serve
Our Opportunity Zone clients include:
Qualified Opportunity Fund Sponsors
Sponsors forming or operating Qualified Opportunity Funds.
Opportunity Zone Investors
Investors evaluating tax-advantaged Opportunity Zone investments.
Real Estate Developers
Developers pursuing projects in designated Opportunity Zones.
Entrepreneurs
Business owners seeking capital for Opportunity Zone businesses.
Opportunity Zone Businesses
Companies operating, expanding, or relocating in Opportunity Zones.
Property Owners & Developers
Clients structuring real estate transactions in Opportunity Zones.
Family Offices & Private Investors
Investors seeking tax-advantaged investment opportunities.
Companies & Investors Needing Coordinated Counsel
Clients needing tax, finance, real estate, securities, or corporate guidance.
Related Professionals
Accolades
Best Lawyers: Ones to Watch® in America
Eight Manning Fulton attorneys were recognized in the 2027 edition of Best Lawyers: Ones to Watch® in America.
2027
Recognized attorneys
- Matthew Muntean - Business Organizations; Corporate Law; Mergers and Acquisitions Law
- J. Patrick Bailey, Jr. - Real Estate Law
- Angela C. Baldwin - Corporate Law; Mergers and Acquisitions Law; Trusts and Estates
- Cecilia Barreca - Business Organizations
- Chris N. Bobby - Closely Held Companies and Family Businesses Law; Corporate Law; Mergers and Acquisitions Law; Tax Law
- Lawrence D. Graham - Appellate Practice; Commercial Litigation; Real Estate Litigation
- Corinne E. O’Reilly - Business Organizations
- B. Zack Taylor, Jr. - Real Estate Law
Business North Carolina “Legal Elite”
Fifteen Manning Fulton attorneys were recognized in Business North Carolina’s 2026 “Legal Elite,” with three additional attorneys named “Legal Elite Young Guns.”
2026
Legal Elite
- Mike T. Medford - Antitrust & Complex Business Disputes
- William C. Smith - Bankruptcy
- Judson A. Welborn - Construction
- Jennifer L. Weaver - Corporate Law
- Thomas I. Lyon - Corporate Law
- William B. Gwyn - Corporate Law
- William S. Cherry - Employment
- Jessica B. Vickers - Litigation
- Alison R. Cayton - Real Estate Law
- Douglas J. Short - Real Estate Law
- Joseph B. Bass - Real Estate Law
- Jessica Elliott - Real Estate Law
- B. Zachary Taylor - Real Estate Law
- Sandra M. Clark - Tax & Estate Planning
- Steve T. Byrd - Tax & Estate Planning
- Chris Bobby
- Lawrence D. Graham
- Matthew P. Muntean
North Carolina Super Lawyers
Twenty-three Manning Fulton attorneys were recognized by Super Lawyers in 2026, including 17 Super Lawyers and 6 Rising Stars.
2026
Super Lawyers
- Joseph B. Bass - Real Estate
- Stephen T. Byrd - Estate & Probate
- Alison R. Cayton - Real Estate
- William S. Cherry III - Business Litigation
- Sandra Martin Clark - Estate & Probate
- William B. Gwyn Jr. - Business/Corporate
- Deborah L. Hildebran-Bachofen - Estate & Probate
- Thomas I. Lyon - Mergers & Acquisitions
- Barry D. Mann - Real Estate
- Michael T. Medford - Business Litigation
- Kevin A. Prakke - Securities & Corporate Finance
- Douglas J. Short - Real Estate
- William C. Smith, Jr. - Civil Litigation Defense
- Ritchie W. Taylor - Franchise/Dealership
- Jessica B. Vickers - Business Litigation
- Jennifer L. Weaver - Business/Corporate
- Judson A. Welborn - Business Litigation
- J. Patrick Bailey - Real Estate
- Angela C. Baldwin - Estate & Probate
- Chris N. Bobby - Business/Corporate
- Lawrence Graham, Jr. - Civil Litigation Defense
- Matthew P. Muntean - Business/Corporate
- B. Zachary Taylor - Real Estate
Best Law Firms: Metropolitan Tier 1
The firm secured 26 ranked practice areas, with 19 of those achieving the highest Tier 1 status.
2026
Recognized in:
- Appellate Practice
- Bet-the-Company Litigation
- Business Organizations
- Closely Held Companies and Family Businesses Law
- Commercial Finance Law
- Commercial Litigation
- Construction Law
- Corporate Law
- Health Care Law
- Insurance Law
- Litigation – Construction
- Litigation – Insurance
- Litigation – Labor & Employment
- Litigation – Real Estate
- Litigation – Real Estate
- Litigation & Controversy – Tax
- Mergers & Acquisitions Law
- Real Estate Law
- Real Estate Litigation
- Tax Law
- Trusts & Estates Law
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