SOLA IMPACT SELECTED AS
TOP OPPORTUNITY ZONE FUND
BY FORBES & SORENSON IMPACT CENTER
Left to right: Steve Bertoni (Forbes VP and Senior Editor), Josh Oppenhuis, Martin Muoto, Gray Lusk, Sherri Francois
Salt Lake City, Utah – February 5, 2020
Today, Forbes and the Sorenson Impact Center recognized SoLa Impact as the nation’s leading Opportunity Zone Fund in the Urban Fund category, bestowing top honors on the South Central Los Angeles affordable housing developer in the inaugural Forbes OZ 20: The Top Opportunity Zone Catalysts, which honors leaders harnessing the new tax policy to unlock transformative economic potential and create lasting change in America’s historically neglected communities.
Founder Martin Muoto and Co-Founder Gray Lusk posing with the Grand Prize award
Receiving the Grand Prize award at the Sorenson Winter Innovation Summit, Martin Muoto, SoLa Impact’s Founder and Managing Partner, stated, “It is an honor to be recognized for the hard work that SoLa’s team has been relentlessly pursuing over the last several years. We appreciate the spotlight the Sorenson Impact Center and Forbes have brought to funds and community organizations that are delivering on the full promise of the OZ legislation.”
SoLa Impact also used the Sorenson Winter Innovation Summit to announce the close of their 2019 Opportunity Zone Fund, which was heavily oversubscribed, and the launch of their follow-on fund focused on commercial real estate in Los Angeles’ Opportunity Zones.
Muoto added, “The impact SoLa has achieved to date would not have been possible without an incredible group of mission-aligned investors. Our LPs have always sought measurable social impact as well as strong financial returns. Due to the overwhelming demand, we are evaluating additional OZ opportunities focused on commercial development and adaptive reuse in commercial hubs.”
Jim Sorenson, Founder of the Sorenson Impact Center, stated, “We received over 100 applications from across the country with a large number of very deserving OZ Funds and community organizations. SoLa Impact stood out in several dimensions – its outstanding track record, its demonstrated and sustainable social impact, its intentional community engagement, and its innovative private-public and nonprofit partnerships. In addition, we were impressed with the vision and execution of SoLa’s founders and management team.”
For questions related to SoLa Impact, contact:
(firstname.lastname@example.org / +1 213-590-4258)