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Special Opportunity Fund

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Special Opportunity Fund 

The Special Opportunity Fund (SOF) is appropriately named, as the asset mix of the fund portfolio differs from that of our maui fund strategy (Fund I and Fund II) where 75% is allocated to multifamily assets and 25% is reserved for gas station assets. Our SOF offered the inverse ratio with 75% reserved for gas station assets and the remaining 25% for multifamily. 

The purpose of this unique asset mix was to accomplish the fund's primary objective: maximum first-year depreciation loss benefit. Working with our third-party cost segregation partners, HIG was pleased to deliver 238% first year depreciation loss benefit. Secondarily, and similar to other existing funds, the fund's other objective is growth of investor capital which is achieved mostly through the multifamily portfolio and our value-add strategy.

Due to the fact that the gas station assets are triple net lease arrangements, management of the gas station assets falls primarily on the shoulders of our operators. For this reason, there are generally less updates on gas stations from a management perspective. However, between the portfolio's gas stations and the two multifamily properties in the fund there have been a few notable developments throughout the year.
 

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