GPWM Funds is a group of private equity real estate funds providing investors tax advantaged real estate investing with a purpose. Our management team has decades of experience in real estate investment, tax law and investment management. We invest with developers and real estate companies across the country, focusing on sound real estate investments that deliver attractive, risk-adjusted returns while improving the local communities in which we invest.
Kirk Walton ~ Co-Founder and Managing Partner
Since the late 1990s, Kirk’s combination of expertise in taxation, estate planning, law, personal finance, and investments has helped him become an elite comprehensive wealth manager, catering to the needs of high net worth individuals and families, including many prominent entrepreneurs, top level executives and venture capitalists in the technology sector. Prior to founding GPWM, Kirk started Eagle Financial Advisors, a fee-only registered investment advisor, in 2002. Prior to founding his own firm, Kirk was a partner with the Ayco Company (now a Goldman Sachs Company) and is an active member of the Idaho and California state bars. Kirk graduated in 1994 from Brigham Young University, majoring in Classical Studies, and earned his J.D., magna cum laude, from Pepperdine University School of Law.
Philip Oleson ~ Co-Founder and Managing Partner
Serving the needs of prominent high net worth families and individuals for over two decades, Philip has developed a reputation as a creative and deeply analytical wealth manager. Philip’s contrarian style, attention to detail, and acumen with investments with an emphasis on real estate and private equity have helped him become an elite wealth manager. Prior to founding GPWM, Philip launched Noble Asset Management in 2002 as an independent wealth management firm. His career in financial services industry began in 1998 with Fidelity Investments. He has also worked for Morgan Stanley and Merrill Lynch.
Brian Lake ~ Vice President of Real Estate Operations
Since receiving his Finance degree from Utah State University, Brian has spent over twenty-five years in corporate Real Estate and Asset Management, serving in executive positions with several Fortune 500 companies including Albertsons and A&P Supermarkets. During his career, Brian has led teams and initiatives in Real Estate development with development budgets in excess of $100,000,000 annually. He has also led Portfolio Management teams with responsibility for portfolios in excess of 50,000,000 square feet.
Ebenezer Makinde ~ Vice President of Marketing & Communication
Over the past decade, Ebenezer's experience in Communication and Media Production has served him in both the public and private sector, ranging from start-ups to non-profits to multi-million dollar publicly traded Companies. He is the published author of several books, sits on the Executive Committee Board of the Boise State University Alumni Association, and is actively engaged as a volunteer in the Treasure Valley community. He holds degrees in Media and Film Production and has a Masters in Business Administration.
Nick Dalzell ~ Financial Analyst
Born and raised in Idaho, Nick graduated from Boise State University in 2020 with a degree in Finance and received the Financial Modeling and Valuation Analyst certification from the Corporate Finance Institute. At GPWM, Nick is responsible for creating models and conducting investment analyses for potential opportunities. He spends his free time outdoors, enjoying the natural beauty that Idaho has to offer.
Opportunity Zones—The Big Picture
Qualified Opportunity Zones (QOZs), created as part of the Tax Cuts and Jobs Act of 2017, are designed to stimulate economic development in underserved communities nationwide. This two-way benefit enables investors to give back to communities by creating jobs, supporting local businesses and stimulating economic growth while at the same time realizing significant tax benefits.
At the onset of QOZ legislation, the GPWM team, with its collective, unique experience in both real estate investment and asset management, quickly understood the magnitude of these tax benefits. While other asset management companies offer QOZ investment opportunities, GPWM has carefully monitored the evolution of the rules and regulations governing QOZs and has created a fund structure designed to not only qualify for, but also to maximize, these benefits. To date, we have raised and placed over $160 million of equity in Qualified Opportunity Zone projects.
Qualified Opportunity Zone Funds—A Three-in-One Benefit Qualified Opportunity Zone Funds(“QOFs) allow investors to invest and shelter capital gains by offering three distinct tax benefits.
To take advantage of these three benefits, a taxpayer needs to invest the capital gain generated from any asset sold into a QOF—generally within 180 days from the date the gain was triggered—and claim the QOF benefits on their tax return.
Summary of Tax Benefits of QOF investment:
GPWM Reinvestment Strategy Funds:
The Reinvestment Strategy Funds are uniquely designed to compound the tax free growth offered by Opportunity Zones by reinvesting all available cashflow into additional Qualified Opportunity Zone (QOZ) projects. However, the tax law only allows QOFs to acquire more QOZ projects through 2027. Thus, during the window when projects acquired could qualify for these tax benefits, the Reinvestment Strategy Funds generally will continue to acquire more QOZ projects for the funds, and after that window closes, the Reinvestment Strategy Funds will distribute available cash flow to investors. This includes potential for future tax free refinance distributions.
GPWM Distribution Strategy Funds:
Unlike the GPWM Reinvestment Strategy Funds, the GPWM Distribution Strategy Funds generally will distribute all available cash flow to investors. The GPWM Reinvestment Strategy Funds will follow a long term hold strategy to take advantage of the benefits of longer tax free appreciation and additional years of depreciation deductions that will not be subject to depreciation recapture.
The tables herein are a hypothetical illustration and are not intended to predict or project future returns in the Fund. These illustrations show general rates of return that may not be achieved and tax scenarios that may change. They are shown to highlight the tax benefits of a QOF investment, as well as the material advantage of holding beyond the 10 year minimum required hold to qualify for tax free growth. There is a risk that the properties may not achieve the forecast presented in this hypothetical illustration.
GPWM invests with multiple developers across the country who possess specific regional and asset type experience and expertise. Because we do not develop our own projects, we are free to seek out markets and asset types that we believe offer compelling, long-term growth opportunities, while avoiding the obligation to invest in every project a developer may have. This independence and objectivity motivates us to negotiate the best investment terms in favor of the fund. We also diversify further by including a mix of value-add renovation or reuse projects, in addition to new construction. We apply a rigorous selection process and have reviewed hundreds of potential QOZ projects.
Since July of 2019, we have placed over $165 million of equity in 15 different developments. These investments were made with six different developers for projects in eight states. This represents approximately $465 Million in Real Estate value. This approach provides investors a diversified portfolio designed to reduce concentration risk on many levels.
Acquire an in-depth understanding of the purpose for Qualified Opportunity Funds and Qualified Opportunity Zones, the tax-saving benefits, and potential downside to investors. You'll also learn: -- Why an investor should consider Opportunity Zones. -- Requirements for Qualified Opportunity Funds. -- Comparison of OZs with other tax deferral strategies. This is a recording of from a live webinar recorded on August 17, 2023. The live version of the webinar was an NASBA-approved course. Live attendees were eligible to receive 1 CPE credit hour.
Investors may access the following portal for accounting and fund information.
Partner With GPWM:
At GPWM Funds we look to partner with experienced developers with a proven track record and regional expertise. To submit your project for funding consideration please contact Brian Lake at 208-258-0536.
Nothing contained on this site should be construed as tax advice. Please consult your tax professional for specific tax advise. We are happy to visit with your tax professional to discuss Opportunity Zone specific regulations and how they may benefit you. Investments in real estate contain risks that should be understood before investing. The information on this site does not constitute an offering. An offering may only be made by the funds official PPM. Please contact us if you have questions about Opportunity Zone investing or to determine if you qualify to receive offering materials.
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