into and lease almost entirely this building that was under construction. And it was all leased up, so it's a pretty safe investment. But it turns out that because of, I think, a flaw in the law and the regulations, if you don't yet have a certificate of occupancy for your building, it can count as a new investment. And so, after the building was done, but before it got their formal certificate of occupancy and the natural gas utility moved into it, Chicago Opportunity Fund bought it with Opportunity Zone money. So people are getting a tax break for investing in a new office building in Portland, Oregon, that when they put their money in was fully leased to a public utility, and they're getting a capital gains tax break. That serves no social purpose other than to cut rich people's taxes. And it's very hard to find lots of examples of those, because you don't have to disclose this stuff. This just happens to be one that, frankly, I heard about because people in the real estate industry (36/40)
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