Daily NAPTA Update 5.5.2023

Posted by Diane Macri | May 05, 2023


SkyWalker Property Partners' New $250M Fund Eyes Distressed Properties Across Texas
SkyWalker Property Partners has launched a $250M fund to acquire distressed assets and new developments across Texas and beyond. SkyWalker's The Leverage Strikes Back fund, the firm's fourth and largest fund was seeded by $20M of capital raised in the first quarter of this year, according to a news release. The fund will target investments with return opportunities between $10M and $30M.


Arizona Company Launches OZ Fund Aimed At Turning Ghost Towns Into Theme Parks
A private equity fund has been launched to revitalize ghost towns in Arizona by converting rural land into theme parks. Independent Concepts, led by owner Tammy Cline, is looking to raise $25M for Series A of the Buckeye OZ Fund, which will target historically significant towns in opportunity zones, according to a news release.


Landmark Decision Regarding California Property Taxes: What Owners of California Hospitality Assets Should Know
The California Court of Appeal (Second Appellate District) published a landmark decision on April 7, 2023, that may have significant implications for the property tax assessments of qualifying California hospitality assets such as hotels. If you own a hospitality asset in California, you may be eligible for a reduction in your asset's assessed property tax valuation.


Collin County values continue to rise
Princeton Herald
Collin County property values once again show an increase. The CCAD mailed the 2023 real property appraisal notices to property owners on April 15. Business personal property mailings were scheduled for mid-May. According to Brian Swanson, deputy chief appraiser-business operations and compliance, the increases stemmed from basic supply and demand.

New Denton County appraisal chief expects 100,000 protests, is ‘taking little steps' to improve
The Denton Central Appraisal District started notifying homeowners about their proposed appraisal values last month, with about 365,000 notices going in the mail April 17. Last year, Hope McClure was ousted as chief appraiser after governmental bodies from all over the county banded together to show their public disapproval for her leadership. McClure's firing left a plagued reputation in its wake, but paved the way for the new chief, Don Spencer.

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