Episode 174: 2-Year Sustainment and Redeployment
Mona Shah and Ronald Fieldstone discuss the 2-year sustainment period and redeployment of investor funds. Recently, there has been a lot of controversy and conversation about the feasibility of these practices.
Fieldstone says: ““When money is paid back, what happens when the investors have not satisfied, quote, the ‘immigration requirement?’…You are now free to get your money back notwithstanding the fact that your I 829 petition could take years to get resolved.”
Ronald “Ronnie” Fieldstone, an attorney from Saul Ewing, LLP, draws on more than 45 years of legal experience to advise clients on sophisticated commercial and real estate transactions. His focus includes matters involving corporate, real estate, securities and tax law. As chair of the Firm’s Opportunity Zones and Qualified Opportunity Funds Practice, Ronnie collaborates with multiple attorneys to leverage their combined knowledge to assist clients with tax, real estate, corporate and securities issues on investments and projects in these designated areas. Ronnie’s understanding of the legal and other challenges businesses face also stems from his own experience as a business owner. He was formerly a principal of Barnie’s Coffee and Tea, Inc., the owner of the Barnie’s operating system with approximately 80 corporate units and 20 franchised units, and a principal in a Blockbuster Video franchise that operated 25 stores in eight states. He was also a managing partner of Landmark Residential, which managed approximately 20,000 multi-family units. He is a principal of multiple real estate projects in the State of Florida, as well as formerly a principal of lithotripsy and medical diagnostic businesses.