Find Homeowner Assistance Fund Programs by State: Read More

Sundance Bay Qualified Opportunity Zone Fund I L.P. | Sundance Bay

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 February 27, 2024:

248 Total Funds ā–  $50.19 Billion Total Anticipated Investment ā–  56% of Funds Target Investment in Affordable Housing and Community Development

Opportunity Zone Case Studies

Fund NameSundance Bay Qualified Opportunity Zone Fund I L.P.
Fund Manager or Organizer(s)Sundance Bay
Fund Size$100,000,000
Fund-Related Websitesundancebay.com
Investment Focus
Mixed-use Development, Multifamily Residential
Geographic Focus
Arizona, California, New York, Pennsylvania, Utah
Additional Fund Details

Sundance Bay is seeking $50M to $100M in capital commitments.

The Fund is managed by an experienced team of real estate professionals with an ability to
source, acquire, finance, develop, asset manage and sell real estate assets throughout the U.S.

The Fund will primarily target multifamily but may include a diversified portfolio of ground up real estate investments in Opportunity Zones. The Fund will also consider qualifying projects that require significant redevelopment or repositioning.

The Fund will target an average cash on cash to investors of 7%+ and an equity multiple of 2.0x+ during the hold period (given the 10+ year hold, IRR is less relevant but the fund will target a return in the range of 13-15%).

Organization Details

Founded in 2012, Sundance Bay has more than 30 full time team members headquartered in Salt Lake City, UT with satellite offices in San Diego, CA, Indianapolis, IN and St. Louis, MO.

The team has invested more than $500M of equity in real assets and debt instruments with a total market value of more than $800M. The management team has over 130 years and $6B of combined acquisition and development experience. The principals have personally invested over $25M in the various investments.

Many of the partners and managers come from top public and private companies, including Avalon Bay, Equity Residential, Excel Trust (public REIT acquired by Blackstone), McKinsey and Company, Prudential Real Estate Investors, Starwood Capital Group, The Related Companies and Toll Brothers.

Fund Contact....
NameGrayson Massey
Job TitleAnalyst
Phone(435) 790-5107
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 ā€œas isā€ without warranty of any kind. NCSHA does not accept responsibility or liability for the accuracy, content, completeness, or reliability of the information contained herein.

NCSHA will not be liable for any loss or damage that may arise as a result of the use of the information contained herein. This directory provides direct links to websites owned by other parties. The content of such sites is not within NCSHAā€™s control; NCSHA cannot take responsibility for the information or content thereon.

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


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

Ox Fibre Apartments

Parramore Oaks

The Tappan