NEW YORK, March 3, 2025 – Today, Cantor Fitzgerald, L.P. (“Cantor”), a leading global financial services firm, and Silverstein Properties, Inc. (“Silverstein”), a leading global full-service real estate development, investment, and management firm, announced the close of Cantor Silverstein Opportunity Zone Trust II, Inc. (“CSOZ Trust II”) with more than $470 million of equity raised. CSOZ Trust II includes four planned market-leading multifamily and mixed-use developments – 1,932 multifamily units and 1.5 million square feet – located in Tempe, AZ, Richmond, VA, Summerville, SC, and Huntsville, AL.
“We have seen strong investor interest in this business, enabling us to build a diversified portfolio of institutional-quality multifamily real estate,” said Bill Ferri, Global Head of Cantor Fitzgerald Asset Management. “This growth underscores our commitment to creating lasting economic impact and revitalizing neighborhoods across the United States. We are optimistic about a potential extension to the overall Qualified Opportunity Zone Program to further drive meaningful growth.”
Cantor and Silverstein launched their Opportunity Zone business in early 2019 to invest in, develop, redevelop, and manage a diversified portfolio of institutional quality commercial real estate assets. The firms are focused on multifamily properties located in Qualified Opportunity Zones in the United States.
“Together with Silverstein, our broad expertise across commercial real estate development and retail capital markets enables us to build a robust portfolio of assets,” said Chris Milner, CIO, Real Assets at Cantor Fitzgerald Asset Management. “We look forward to identifying and implementing additional investment opportunities to achieve our clients’ financial objectives and help strengthen local communities.”
“Cantor’s national reach and local market knowledge combined with our expertise in real estate development and management has resulted in four outstanding development opportunities within the Opportunity Zone Program,” said Tal Kerret, President of Silverstein Properties.
Approximately $1.1 billion has been raised for five closed Qualified Opportunity Zone Funds, which includes flagship funds CSOZ Trust I and CSOZ Trust II, as well as the co-investment funds CSOZ Northern Boulevard, LLC, CSOZ 3.0 University Place, LLC and CSOZ South Pier Tempe, LLC. The five funds currently have eleven projects in various stages of development with a plan to deliver 4,044 multifamily units, 233 of which are targeted to be affordable housing and four million square feet, exceeding $2.4 billion in total estimated project costs.
About Cantor Fitzgerald, L.P.
Cantor Fitzgerald, with more than 14,000 employees, is a leading global financial services and real estate services holding company. Its diverse group of global companies provides a wide range of products and services, including investment banking, asset and investment management, capital markets, prime services, research, digital assets, data, financial and commodities brokerage, trade execution, clearing, settlement, advisory, financial technology, custodial, commercial real estate advisory and servicing, and more.
About Cantor Fitzgerald Asset Management
Cantor Fitzgerald Asset Management’s global investment platform consists of approximately $14.8 billion of assets under management across mutual funds, interval funds, exchange-traded funds, separately managed accounts, unified managed accounts, non-traded REITs, opportunity zone funds, 1031 and 721 exchange vehicles, and other private investment vehicles managed on behalf of high net worth and institutional investors. The experience and knowledge of its senior leadership and portfolio management teams combined with the financial services prowess of industry leader, Cantor Fitzgerald, enable the delivery of a platform of solutions across a comprehensive range of capabilities. For more information, visit: www.cantorassetmanagement.com.
About Silverstein Properties
Silverstein Properties is a privately held, full-service real estate development, investment and management firm based in New York founded by Larry Silverstein. Silverstein Properties has developed, owned and managed more than 45 million square feet of commercial, residential, retail and hotel space. Recent projects include 7 World Trade Center, the first LEED-certified office tower in New York City (2006), 4 World Trade Center (2013), the Four Seasons Downtown (2016), One West End (2017) and 3 World Trade Center (2018). The company has been recognized as one of the “Best Places to Work in New York City” by Crain’s New York Business for eight years in a row. For more information on Silverstein Properties, please visit: www.silversteinproperties.com or www.wtc.com.