Aug 08


NES Financial to Administer Funds for Synergy Investment’s First Opportunity Zone Fund

Aug 08

Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration Solution to Synergy Investments. Synergy Investments is a full-service real estate investment firm based in Boston that has delivered a total weighted average IRR of 32% to institutional investors over the last 15 years.

The newly formed Synergy Investments Opportunity Zone Fund will invest in urban communities in the greater Boston area with access to major lines of transportation and in close proximity to amenities.

The Synergy Opportunity Zone Fund recently launched, and it is now accepting subscriptions from accredited investors. The significant tax incentives associated with the Opportunity Zones legislation are designed to encourage long-term investment into targeted economically distressed areas across the country. The benefits include: deferral of federal capital gains tax until the end of 2026, a reduction of up to 15% of the tax burden if held for 7 years, and the elimination of any capital gains tax on subsequent appreciation of the investment in the fund if held for 10 years.

“Synergy selected NES Financial as the independent third-party administrator for the fund in part because the solution will help us define, measure and report on the social and economic impact our investments are making in the community,” said David Greaney, President of Synergy Investments. “We were impressed with NES Financial’s professionalism and their knowledge of the OZ space —additionally, their investor portal creates a seamless and secure way to communicate with our investors.”

The purpose of the NES Financial Opportunity Zone Fund Administration Suite is to efficiently and securely handle administration of growing funds, at scale, so that Opportunity Zone Fund managers can focus on raising capital and deploying it to underserved communities across the country. This includes handling the specialized reporting requirements of OZ with the highest possible degrees of fund security, investor transparency, and regulatory compliance.

For additional information about the Opportunity Zone Fund Administration Suite, please visit the NES Financial websiteor contact an NES Financial representative at 1-800-339-1031.

About NES Financial

NES Financial is a specialty financial administrator which serves sectors characterized by high administrative complexity, increased transaction security needs, and challenging regulatory compliance requirements. The company’s purpose-built solutions streamline the administrative processes of these markets — simplifying specialized financial transactions, curtailing fraud and abuse and ensuring the utmost in security, transparency and regulatory compliance through each step of an investment’s life cycle.

NES Financial, recognized on the San Francisco Business Times’ top Bay Area fintech list, has defined industry best practices in each of the markets it serves — from 1031 exchanges and EB-5 visa funding, to private equity and the landmark Opportunity Zones initiative. NES Financial services more than 300 funds, administers over $20B annually, and has worked with more than 700 EB-5 projects. For more information, visit

About Synergy Investments

Synergy Investments is a full-service real estate investment and operating company primarily focused on the Greater Boston market. Synergy is one of the largest and most active landlords in the city, with a growing portfolio of approximately 3.5 million square feet that provides space to more than 400 businesses and organizations.

Synergy is an active member of the Boston business community and has been recognized as Landlord of the Year by the GBREB Commercial Brokers Association (CBA). The firm is also proud to support numerous organizations that have a positive impact on the local community. For more information, visit

“Our Opportunity Zone Fund Administration Solution is purpose built to provide the highest levels of transparency, scalability and accessibility, which is important for any client to successfully manage an OZ fund,” said Michael Richards, Senior Vice President of Fund Administration at NES Financial. “Overall, the Opportunity Zone initiative is a win-win for everyone across the United States, and it’s encouraging to see funds such as Synergy make efforts toward significant social impact for good in local communities.”