Platform ReviewUpdated 2026-10-28

Park View OZ REIT Review 2026: One Tampa Property, the Cost of Raising Capital and What PVOZ's Trading Shows

Park View OZ REIT is a Regulation A opportunity zone fund that sells shares at $100 and has them quoted over the counter as PVOZ. Five years in, it owns two townhouses in Tampa and has raised $4.07 million, of which $1.52 million has gone to offering costs. The third-party trading dataset AltStreet retrieved records only 977 shares of volume since September 2023. The opportunity zone tax treatment depends on the fund keeping its status and on when an investor buys, and it changes for investments made from January 1, 2027.

Common stock of a qualified opportunity fund that intends to elect REIT status; one residential investment in Tampa Heights, FloridaQualified Opportunity Fund (Regulation A Tier 2, OTC-quoted shares)
Park View OZ REIT platform screenshot

No platform response on record for this review. Is this your platform? Respond or claim it.

What the data actually shows - TL;DR

Park View OZ REIT, Inc. is a Maryland corporation formed in 2020 by Michael Kelley and Elizabeth Kelley to invest capital gains in opportunity zone real estate. It sells common stock under Regulation A at $100 a share, a price its circular says was 'arbitrarily determined by our Manager', and its shares are quoted over the counter as PVOZ, which the site presents as the only opportunity zone fund with 'freely tradable shares of stock'.

Read the full assessment

The filed record is small and specific. The fund owns one investment, two of four townhouses at 2209 North Boulevard in Tampa Heights, bought for $1,920,000 in cash in 2023 and rented for $10,425 a month together. It has raised $4,066,946 from investors since 2021, and it has paid $1,518,749 in offering costs over the same period, 37% of everything raised and 81% of what it raised after its first year; in 2025 it paid more in offering costs ($421,580) than it raised ($350,000).

Its book equity at June 30, 2026 was $55.89 a share against the $100 offering price. The tradability that leads the pitch is thin: the third-party FINRA dataset AltStreet retrieved records 977 shares of over-the-counter volume since September 2023, against 41,470 outstanding. That matters because, since an August 2026 amendment, the manager's 0.75% fee is set from the share price in a quarter's last ten trading days, and the circular itself warns that small trades could have 'a disproportionate effect' on that fee and 'create a potential for manipulation'.

The tax treatment also depends on timing: gain invested through December 31, 2026 is generally recognized for 2026, while investments from January 1, 2027 fall under a new five-year deferral framework. None of this is a finding of wrongdoing; it is what a buyer is paying for and what the exit looks like today.

37%

Offering costs paid as a share of the $4,066,946 raised from investors since 2021 ($1,518,749). After the first year, $1,320,026 of offering costs against $1,638,646 raised; in 2025, $421,580 against $350,000.

$55.89

Book equity per share at June 30, 2026 (unaudited), against the $100 offering price, which the circular says the Manager set 'arbitrarily'.

977 shares

Over-the-counter share volume since September 2023 in the third-party FINRA dataset AltStreet retrieved (16 weeks with any trading), against 41,470 shares outstanding. Not a verified, exhaustive trade history.

Capital raised and offering costs from the cash flow statements of each Form 1-K (audited) and the June 30, 2026 Form 1-SA (unaudited). Trading data is third-party (FINRA OTC transparency via Equibles; S&P Global via StockAnalysis), fetched October 28, 2026. Shares and per-share figures are AltStreet's arithmetic.

AltStreet Weekly

Get new platform breakdowns weekly

One useful review, data point, or platform comparison each week. Built for investors who want the answer and the evidence.

No spam. Just alternative-investment research when it is useful.

Subscribe free

Quick Verdict

Is this platform right for you?

Park View OZ REIT is set up the way an opportunity zone fund needs to be: it is a self-certified qualified opportunity fund, reports to the SEC, is audited annually and takes no debt. Whether a given investor gets the tax benefits depends on the fund keeping its status and on the investment date, which AltStreet has not verified.

Read the full assessment

As an investment it is small and slow. After five years it owns two Tampa townhouses, pays no dividends, and has spent most of the money raised since its first year on the cost of raising money. New investors pay $100 a share, a price the Manager sets, against reported book equity of $55.89 per share at June 30, 2026.

The feature that leads the pitch, tradable shares, exists on paper but barely in practice: the third-party dataset records 977 shares of volume since September 2023, and the Manager's fee is now pegged to that quote, a structure the circular itself says creates a potential for manipulation. A capital-gains investor who wants this structure should confirm with a tax adviser which rules apply to their investment date, buy with a ten-year horizon, check the OTC quote first, and ask for an appraisal, the next investment and the offering-cost budget before subscribing.

Best for

  • Investors with a capital gain who value a low minimum and SEC reporting, accept a single-property fund for now, and will hold at least ten years.

Avoid if

  • You may need to sell within ten years.
  • You want income or a diversified portfolio.
  • The company will not provide an appraisal and its offering-cost budget.

Top strengths

  • Audited annual statements and semiannual SEC reporting since 2021.
  • No debt on the property; no selling commissions; no management fee paid to date.
  • A $10,000 minimum, low for an opportunity zone fund.
  • No regulatory action located in the sources searched.

Key limitations

  • One investment, two residential units, after five years.
  • Offering costs equal to 37% of all capital raised, and 81% after the first year.
  • Offering price of $100 against reported book equity of $55.89 per share.
  • Thin OTC trading, and a management fee set from it.
  • No independent director.

Quick Answers

What most investors want to know first

The highest-signal facts first: minimums, liquidity reality, K-1 timing, and whether distributions are actually part of the experience.

Liquidity

977 shares of reported volume over three years (third-party FINRA data); the circular warns orders can cause large price swings.

K-1 Timing

No K-1; the fund is a corporation.

Distributions

Not expected until the fund has positive annual earnings.

Overview

Platform Overview

A concise read on what the platform is, how the structure works, and where the practical friction shows up for real investors.

Park View OZ REIT is a self-certified qualified opportunity fund. Investors who put an eligible capital gain into such a fund within the allowed window can defer the tax on that gain, and after ten years can elect to step up the basis of their shares so that appreciation on the fund investment is not taxed. How long the deferral lasts depends on the investment date: gain invested through December 31, 2026 is generally included in income for 2026, while investments from January 1, 2027 can defer for up to five years.

AltStreet has not verified the fund's qualification at any testing date or any investor's eligibility. It is organized as a corporation that intends to elect REIT status later (it is not yet taxed as a REIT), holds its real estate through an operating partnership, Park View QOZB OP, LP, whose sole general partner is the Sponsor, Park View Investments, LLC, and is managed externally by Park View OZ REIT Manager, LLC. It sells shares directly under Regulation A Tier 2, with no selling commissions, through a subscription agreement on its site (minimum 100 shares, $10,000) or, the circular says, through a brokerage account under the symbol PVOZ, and it reports semiannually and annually to the SEC. It pays no dividends and does not expect to until it has positive annual earnings.

It received the OTC symbol PVOZ, ended its repurchase plan in January 2023, bought its Tampa townhouses in August 2023 and began collecting rent that November. The current offering, qualified September 23, 2026, is for up to $73,811,300 at $100 a share. Michael Kelley writes and speaks widely on opportunity zone tax planning (Kiplinger, Thomson Reuters, conference panels), and most of the site's 123 pages are tax-strategy articles rather than fund reporting.

What it is

A qualified opportunity fund organized as a corporation that intends to elect REIT status; Regulation A Tier 2; OTC Pink: PVOZ.

Portfolio

Two of four townhouses at 2209 North Boulevard, Tampa Heights, FL; $1,920,000 cash, no debt; $10,425 a month in rent.

Size

$4,066,946 raised since 2021; total assets $2,370,906 and equity $2,317,906 at June 30, 2026 (unaudited); 41,470 shares.

Price

$100 a share in the offering, 'arbitrarily determined by our Manager'; book equity $55.89 a share; last OTC close located $150.00 (March 31, 2026).

Fees

0.75% a year on market capitalization (none paid yet); 1.5% acquisition and 1.5% construction oversight fees; offering, salary and overhead reimbursements to the Manager.

Dividends

None; not expected until the fund has positive annual earnings.

Governance

Two directors, a married couple who are also the officers and the Manager's executives; no independent director.

Regulatory record

No action located in the sources searched; two annual reports filed late (2022, 2023) with notices.

Visual Summary

Capital raised and offering costs paid, by year

From the cash flow statements of each Form 1-K (audited) and the June 30, 2026 Form 1-SA (unaudited). Offering costs are charged to equity and reimbursed to the Manager. Share of raise is AltStreet's arithmetic.

2021

Capital raised

$2,428,300

Offering costs paid

$198,723

Offering costs as % of raise

8.2%

Rental income

$0

2022

Capital raised

$440,000

Offering costs paid

$194,205

Offering costs as % of raise

44.1%

Rental income

$0

2023

Capital raised

$20,000

Offering costs paid

$239,594

Offering costs as % of raise

1,198%

Rental income

$7,973

2024

Capital raised

$430,000

Offering costs paid

$274,896

Offering costs as % of raise

63.9%

Rental income

$119,706

2025

Capital raised

$350,000

Offering costs paid

$421,580

Offering costs as % of raise

120.5%

Rental income

$115,639

H1 2026

Capital raised

$398,646

Offering costs paid

$189,751

Offering costs as % of raise

47.6%

Rental income

$51,180

Total

Capital raised

$4,066,946

Offering costs paid

$1,518,749

Offering costs as % of raise

37.3%

Rental income

$294,498

Investor Operations

The practical questions investors actually care about: when tax documents arrive, how cash distributions work, and whether capital can be exited before the underlying asset is sold.

Tax Documents

K-1 Timing

What to expect

No K-1; the fund is a corporation.

Cash Flow

Distributions

Frequency

None to date.

Timing

Not expected until the fund has positive annual earnings.

Consistency

Not applicable.

Liquidity

Exit Reality

Holding period

None contractually; the tax benefit requires a ten-year hold.

Exit options

  • Sell shares on the OTC market.

Secondary market

977 shares of reported volume over three years (third-party FINRA data); the circular warns orders can cause large price swings.

Investment Structures

Park View OZ REIT, Inc common stock (current offering)

Up to $73,811,300 at $100 a share, qualified September 23, 2026; minimum 100 shares through the subscription agreement; also quoted OTC as PVOZ.

Risk

Risk Structure

This is where the marketplace pitch gives way to the actual operating reality: delayed exits, limited disclosure, fee drag, and path-dependent outcomes.

Concentration

One investment, two residential units in one Tampa neighborhood.

Cost of capital raising

Offering costs paid equal 37% of capital raised since 2021 and 81% since the first year.

Liquidity

OTC Pink quote with 977 shares of reported volume in three years; repurchase plan ended 2023.

Pricing

Offering price set by the Manager at $100; book equity $55.89 a share.

Governance

No independent director; the directors resolve conflicts with their own Manager.

The shares may not be sellable at a fair price

The third-party volume data shows almost no trading, and the circular warns of large price swings.

Why it matters

Selling before ten years also forfeits the basis step-up that is the main reason to own an opportunity zone fund.

Mitigation / verification

Check the bid, ask and recent trades on OTC Markets before buying, and plan to hold ten years.

Most new money pays for raising money

Offering costs paid were 81% of capital raised after the first year, and exceeded it in 2025.

Why it matters

Capital spent on offering costs is not invested in property, which lowers the value behind each share.

Mitigation / verification

Ask what offering costs are budgeted against the next $1 million raised, and what the 2% monthly cap has been in dollars.

Paying $100 for $55.89 of book value

The offering price is set by the Manager, not by NAV or the market.

Why it matters

The reported June 30, 2026 book equity was $55.89 per outstanding share, compared with the $100 subscription price. Book value is at depreciated cost, not an appraisal, and new subscriptions change both equity and share count, so this is not a measured loss on purchase.

Mitigation / verification

Ask for an appraisal of the townhouses and the fund's own NAV estimate.

A fee set by a thin quote

The 0.75% fee is charged on the share price over each quarter's last ten trading days.

Why it matters

The circular itself warns that small trades could have a disproportionate effect on the fee and create an incentive to influence the price near quarter end.

Mitigation / verification

Ask whether the board will cap the fee base at NAV or book value.

Opportunity zone compliance

The fund must hold at least 90% of its assets in qualified opportunity zone property, tested twice a year.

Why it matters

Failing the test brings penalties and can threaten the tax benefits; cash was 17.7% of assets at June 30, 2026.

Mitigation / verification

Ask how the test was met at the last testing dates and how uninvested cash is treated.

Regulatory & Legal Posture

Security Status

Common stock offered under Regulation A Tier 2 (file 024-12437), with annual (1-K), semiannual (1-SA) and current (1-U) reporting. Non-accredited investors may invest up to 10% of the greater of annual income or net worth. The shares are quoted on OTC Markets' Pink tier; the fund is not listed on an exchange and does not file Exchange Act reports.

SEC qualification of a Regulation A offering is not an endorsement; the circular says the SEC 'does not pass upon the merits'. The fund is a self-certified qualified opportunity fund, which the IRS does not pre-approve.

  • No SEC action located against Park View OZ REIT, Park View Investments or the Manager in the sources searched (SEC full-text search for litigation releases and administrative proceedings; every EDGAR document naming 'Park View Investments' is the fund's own).
  • Court records (CourtListener): no case naming the fund, the Sponsor, the operating partnership or the Tampa seller was located; searches for the chief executive's name returned only unrelated large bankruptcies.
  • Annual reports for 2021 and 2022 were filed after the 120-day deadline, each preceded by a notice that the auditors could not finish in time (May 2022, May 2023).
  • SEC staff comments in 2020 led the circular to disclose that management and the Sponsor have no public track record with similar programs; in 2024 the staff asked for the Tampa purchase agreements and rent terms to be described.
  • A May 2023 current report gives the date FINRA assigned the PVOZ symbol as December 7, 2023, after the report's own filing date; the annual report says the symbol was assigned in 2023.

Disclosure Quality

Annual statements are audited by Novogradac & Company LLP; semiannual statements are unaudited and unreviewed. The filings state the property, its price and rent; they do not give an appraisal or NAV.

Custody Model

The fund owns its real estate through its operating partnership; shares are held on the transfer agent's books or in brokerage accounts. No third-party administrator is named.

Regulatory Backing

None beyond Regulation A and the opportunity zone rules; the fund is not a registered investment company and the Manager is not a registered adviser on the records searched.

Tax Treatment

Reporting

Form 1099-DIV for any dividends (none paid to date); shareholders report the deferral election on Forms 8949 and 8997.

No dividends to date.

Income Character

Deferred capital gain and, after ten years, possible exclusion of appreciation

The rules depend on when the qualifying investment is made. Investments made through December 31, 2026: the deferred original gain is generally included in income for 2026, at the end of that year if not earlier, and IRS Notice 2026-40 says that included gain cannot be deferred again. Investments made from January 1, 2027: the deferred gain is generally included no later than five years after the investment, and holding at least five years increases basis by 10% of the deferred gain.

The ten-year election to step basis up to fair market value on a sale is a separate benefit with its own conditions; for investments from 2027 the fair market value used is capped at 30 years. Every benefit depends on the fund keeping its qualified opportunity fund status and on the investor's own eligibility and elections, neither of which AltStreet has verified. The fund is not yet taxed as a REIT; once it elects, ordinary REIT dividends may qualify for the 20% qualified business income deduction.

Limitation

AltStreet is not a tax adviser. The 2025 law changed these rules and the IRS is still issuing guidance; confirm with a tax adviser which regime applies to your investment date and gain.

Special Considerations

  • An investment made before January 1, 2027 does not defer the original gain past 2026; a buyer in late 2026 should expect that gain on their 2026 return.
  • Selling the shares before ten years gives up the ten-year basis election; the site's 'Control Your Own Holding Period' does not change the tax rule.
  • Non-qualifying cash can be invested but earns no opportunity zone benefit.
  • Holding the fund in an IRA duplicates or wastes the tax benefit, as the circular notes.

Account Suitability

Taxable

Yes; the benefit requires a taxable capital gain.

Roth IRA

Possible but the opportunity zone benefit is largely lost.

Traditional IRA

Possible but the opportunity zone benefit is largely lost.

HSA

Not applicable.

Before You Invest

Get Park View OZ REIT investor insights before you invest

K-1 timing, distribution updates, yield insights, and risk signals for Park View OZ REIT and similar platforms.

  • Weekly platform research focused on tax timing and liquidity reality.
  • Signals on distributions, risks, and structural tradeoffs before capital is locked up.
  • Coverage of adjacent platforms so you can compare better options faster.

Get weekly platform signals

Track fee changes, liquidity updates, risk flags, and adjacent platforms before you invest.

Independent intelligence from AltStreet. No hype. No sponsor spin.

AS

AltStreet Data Layer

What the data actually shows

What the filings and third-party market data show about the fund's size, its share price and its trading, side by side.

Warning

Size barely changed since 2021

Total assets $2,402,350 at December 31, 2021 and $2,370,906 at June 30, 2026, while $1,638,646 more was raised and $1,320,026 of offering costs paid.

What this means

New capital has largely funded the cost of raising it.

Notable

Rent against expenses

2025 rental income $115,639; operating expenses about $115,000; net loss $70,802 after depreciation.

What this means

The property covers about its own operating costs; it does not yet fund dividends.

Notable

Price versus book

$100 offering price; $55.89 book equity per share (June 30, 2026); last OTC close located $150.00 (March 31, 2026, 305 shares).

What this means

Two prices and one accounting measure: the Manager sets the offering price, a few hundred shares set the last close, and book equity is depreciated cost, not a price.

Data as of 2026-10-28 . AltStreet review evidence layer . Public-source analysis

Full dataset

Decision Fit

Investor Fit

Who this works for, who it does not, and what level of patience and complexity tolerance the platform really demands.

Investors with a capital gain who want a small, SEC-reporting opportunity zone fund and will hold ten years

~Neutral Fit

The tax treatment depends on the fund keeping its status and on the investment date, which AltStreet has not verified for any investor; the investment is one small property, the price is above reported book value, and most recent capital has gone to raising more.

Investors who want to sell before ten years

xPoor Fit

The market is thin, and an early sale forfeits the main tax benefit.

Investors seeking income

xPoor Fit

No dividends, and none expected until the fund is profitable.

Tradeoffs

Key Tradeoffs

The attraction of pre-IPO access is real, but every benefit comes bundled with a corresponding liquidity, transparency, or pricing cost.

1

Tax

One property after five years; the benefit is only as good as the investment underneath it.

2

Liquidity

Almost no trading, and selling early gives up the tax benefit.

3

Cost

Offering costs equal to 37% of all capital raised, and a fee that will follow a thin quote.

Avoid

Who This Is Not For

This section should be read as a filter, not an afterthought. If you need income, simplicity, or near-term access to capital, the structure is working against you.

Anyone who may need the money within ten years

The OTC market is thin and the tax benefit needs a ten-year hold.

Income investors

No dividends.

Investors wanting a diversified opportunity zone portfolio

The fund owns one investment.

Editorial View

AltStreet Perspective

The compressed version of the review: what matters, what marketing tends to obscure, and how we would frame the platform for a serious allocator.

Verdict

The founders understand opportunity zone tax law and write about it well, and the fund's filings are complete and on time more often than not. The record shows one investment, made in 2023, and no second one yet: the fund has raised about $400,000 a year while spending a similar amount raising it, so its size has barely changed since 2021. Until that changes, a buyer is paying for the tax wrapper and the founders' plans more than for real estate.

Positioning

Against large opportunity zone funds sponsored by established real estate firms, Park View offers a far lower minimum, SEC reporting and a quoted share, in exchange for a single small property, a manager-set price above reported book value and management that, by its own disclosure, has no public track record with programs of similar investment objectives. Against Regulation A real estate platforms such as Fundrise or Arrived, it offers the opportunity zone tax treatment they do not.

The Bottom Line

A five-year-old, SEC-reporting opportunity zone fund with one Tampa property, high capital-raising costs and a stock quote that rarely trades.

Action

Next Steps

If you still want to engage after reading the review, these are the practical next moves that reduce avoidable mistakes.

1

Check PVOZ's bid, ask and last trades on OTC Markets before buying; compare the quote with the $100 offering price.

2

Ask for an appraisal of the Tampa townhouses and the fund's own estimate of NAV per share.

3

Ask what offering costs and salary reimbursements are budgeted against the next $1 million raised.

4

Ask how the fund met the 90% qualified opportunity zone property test at its last two testing dates.

5

Confirm with a tax adviser which opportunity zone rules apply to your investment date, before or after January 1, 2027.

6

Ask what the next investment is, its size and timing, and whether the board will cap the fee base at NAV or book value.

AltStreet Weekly

We track exit data others don't

Join the AltStreet newsletter for verified exits, fee friction, liquidity signals, and side-by-side platform analysis as new reviews go live.

No spam. Just alternative-investment research when it is useful.

Get weekly platform data

AltStreet Research Desk

About to invest in Park View OZ REIT, or in an offering we haven't covered?

Commission an independent diligence report: the same filing-based analysis behind this review, applied to the specific investment in front of you before you wire the money.

  • Built from primary sources: SEC filings, court records, capital structure, and marketing-versus-filings comparison.
  • From $750; full reports from $1,495. Fixed price confirmed up front, delivery in 3-5 business days.
  • Independent by design: we work for investors and accept no compensation from the companies we cover.

Want this on every new deal, not one? Deal Intelligence sends the alert the day a new offering appears on a covered platform and follows with an analyst-approved investment committee memo.

Deal Intelligence →

Appendix

Sources, Disclosures, and Supporting Context

The lower section is structured like a report appendix: relationship context first, adjacent reading second, and evidence last.

Report Appendix

Disclosure

Relationship and compensation context

+
Relationship Disclosure: AltStreet has no financial relationship with Park View OZ REIT, holds no shares and received no compensation for this review. AltStreet did not contact the company or invest.
Represent this platform? How to dispute or correct this review.

Report Appendix

Related Resources

Adjacent platform comparisons, frameworks, and category links

+

Further Reading

Related Resources

Adjacent frameworks and reviews that help place the platform in a broader allocation or due-diligence context.

Similar Platform Reviews

Report Appendix

SEC Filers Behind Park View OZ REIT

The largest issuers linked to Park View OZ REIT on EDGAR, by total reported sold; each page carries the filing record and the related persons

+

Report Appendix

Evidence & Methodology

Sources, scope, and how the review was assembled

+

ASReview Evidence

Data as of2026-10-28

Methodology

Every EDGAR filing of the issuer (55 filings, 276 documents); 123 site pages; third-party OTC price and volume data; CourtListener, SEC action and adviser searches.

Scope

Park View OZ REIT, Inc and its Sponsor and Manager, from public sources only.

Key Findings

  • *Offering circular cover: 'The price per share shown was arbitrarily determined by our Manager.'
  • *Offering circular: 'liquidity is limited and orders have the potential to create large price swings'.
  • *Offering circular: the directors are 'a married couple, neither of whom is deemed independent'.
  • *Form 1-K 2025: $290,000 of offering-cost reimbursements and $83,000 of salaries, benefits and overhead to the Manager and Sponsor.

Primary Source Pages

Offering circular (Form 253G2), September 28, 2026: cover, Offering Summary, Management Compensation, Principal Stockholders, Properties.
Form 1-K for 2021 to 2025 (Novogradac & Company LLP) and Form 1-SA for June 30, 2026: statements of cash flows, operations and equity; Item 5 related-party costs.
Form 1-U reports of 2022 to 2026: late-filing notices, the PVOZ symbol and repurchase plan termination, the Tampa acquisition, shareholder letters.
SEC staff correspondence, 2020 and 2024.
parkviewoz.com home page, /about-us/, /how-to-invest/, /qof-faqs/ (captured October 28, 2026).

Comparable Platforms

  • Fundrise

    Regulation A real estate at scale; no opportunity zone treatment.

  • Arrived

    Regulation A rental home shares.

FAQ

Frequently Asked Questions

High-intent search questions answered directly, without making users hunt through the full review.

Q

Is Park View OZ REIT legit?

It is a real fund that files with the SEC: its Regulation A offerings were qualified in 2021, 2022, 2023, 2024, 2025 and 2026, its annual statements are audited, and AltStreet located no regulatory action against it in the sources searched. As an investment it is small: one Tampa property, no dividends, and offering costs equal to 37% of all capital raised.

Q

Can you sell PVOZ shares?

The shares are quoted on OTC Markets' Pink tier as PVOZ, so a holder can place a sell order through a broker. The third-party FINRA dataset AltStreet retrieved records 977 shares of volume since September 2023, and the circular warns that orders can cause large price swings, so a sale may take time or happen at a poor price. Selling before ten years also gives up the ten-year basis election.

Q

What changes for opportunity zone investments after 2026?

Under the IRS rules, gain invested in a qualified opportunity fund through December 31, 2026 is generally included in income for 2026 and cannot be deferred again. Investments from January 1, 2027 can defer the gain for up to five years, with a 10% basis increase after five years, and keep a separate ten-year election to exclude appreciation. Both depend on the fund keeping its qualified status; confirm with a tax adviser.

Q

What does Park View OZ REIT own?

Two of the four townhouses at 2209 North Boulevard in Tampa Heights, Florida, bought for $1,920,000 in cash in 2023 and rented for $10,425 a month together, per its June 30, 2026 report.

Q

What are Park View OZ REIT's fees?

A 0.75% annual asset management fee on market capitalization (not charged yet), a 1.5% acquisition fee, a 1.5% construction oversight fee, and reimbursement to the Manager of offering costs and an allocable share of salaries and overhead. There are no selling commissions. Offering costs paid since 2021 total $1,518,749.

Q

Why is the share price $100?

The offering circular says the $100 price 'was arbitrarily determined by our Manager' and may be adjusted on subjective estimates. Book equity was $55.89 a share at June 30, 2026, and the last over-the-counter close AltStreet located was $150.00 on March 31, 2026, on 305 shares.