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Blue Spruce Opportunity Fund | Blue Spruce Opportunity Fund

The Opportunity Zone Fund Directory is a compilation of publicly-announced funds formed to attract investment in Opportunity Zones (OZs). NCSHA is tracking only multi-project OZ funds. To learn more about a fund included in this directory, click on the name.

Please review the terms of the use before using the directory. To request to add your fund to the directory, please complete this form.

Directory Stats as of October 13, 2020:

218 Total Funds $46.9 Billion Total Anticipated Investment 63% of Funds Target Investment in Affordable Housing and Community Development

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Fund NameBlue Spruce Opportunity Fund
Fund Manager or Organizer(s)Community Capital Services LLC
Fund Size$100,000,000
Investment Focus
Commercial Real Estate, Hospitality Development, Mixed-use Development, Multifamily Residential
Geographic Focus
Additional Fund Details

The Blue Spruce Opportunity Fund (“Blue Spruce”) will be a regional investment fund focused on commercial real estate in the Denver, Colorado, metropolitan area. Blue Spruce will leverage the experience of its team of development partners, who each have decades of experience sourcing and structuring commercial real estate investments in and near Denver, including multifamily, office, and retail projects. Blue Spruce management and affiliates also have in-depth working relationships with public-sector stakeholders at all levels of government. Drawing on this extensive knowledge of the regional market, it will deploy investor funds in commercial real estate in the dynamic and growing Denver metropolitan area on a long-term basis. The fund’s objective is to provide both current income and capital gains, tax-optimized under both the federal Opportunity Zone provisions and the state of Colorado’s Enterprise Zone provisions.

Organization Details

Community Capital Services LLC (“CCS”), a minority-owned (as defined under Section 342 of the Dodd-Frank Act) and veteran-owned small business and registered investment advisor, will be responsible for investment decisions, fund performance, and investor reporting and relations. The Principal of CCS, Timothy Lee, has over 20 years’ capital markets experience, including in municipal finance, alternative investments, and structured finance. He also served as a senior official at the US Treasury Department’s TARP team and at the Federal Housing Finance Agency. The Senior Advisor of CCS, Steve Cohen, is a lifelong Denver resident with over 30 years' experience in local commercial real estate investment.

Fund Contact....
NameTimothy Lee
Job TitlePrincipal
Phone(646) 359-3710
EmailEmail hidden; Javascript is required.

The listings on this page are provided as a free service to potential community development funding recipients. The information contained on this page is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy securities. NCSHA does not provide investment advice, and these listings are not to be construed as a recommendation to engage in a transaction with a particular party.

The information above is based solely on information provided to NCSHA by the listed contact person for each company, and NCSHA is not responsible for any inaccurate or out-of-date information in these listings. Companies utilizing this free listing are solely responsible for obtaining necessary clearances from their compliance departments.

The information in this directory is provided “as is” without warranty of any kind. NCSHA does not accept responsibility or liability for the accuracy, content, completeness, or reliability of the information contained herein.

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NCSHA will continue to update the directory as it becomes aware of new funds or changes to the information listed on

Case Studies: Opportunity Zone Investment in Affordable Housing and Community Revitalization

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The Tappan