LOS ANGELES – April 1, 2019 – Abington Emerson Investments, LLC launched a Qualified Opportunity Zone Fund, AEI Farmdale OZ Fund LLC, that will invest in three (3) real estate projects located in the West Adams Opportunity Zone of Los Angeles.
West Adams is a densely populated South LA neighborhood located half-way between Downtown Los Angeles and the Westside, bordering the 10 Freeway to the north, Exposition Boulevard to the south, La Cienega to the west and Western Avenue to the east. The area has been undergoing a renaissance since the new Expo Line light rail extension from Downtown to Santa Monica opened in 2016 and is expected to further benefit from the Crenshaw Line opening in Summer of 2020.
Abington Emerson saw the opportunity in West Adams and has been investing in the neighborhood since 2015, several years prior to its OZ designation. With the launch of the Fund, Abington Emerson is pleased to extend an opportunity to its investors to participate in the three high quality projects in this up and coming neighborhood.
The three properties selected for the Fund are located on Jefferson Boulevard, within walking distance from the Farmdale subway station and include (i) a 30,000SF modern creative office building, (ii) a micro-brewery and (iii) a two-story office with ground floor retail development.
The assets were acquired in 2017 and are being recapitalized into the Fund.
The Fund is currently accepting investors and is expected to close in Summer 2019.