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Offering Summary

A Robust and Modern Mixed Use Development in Downtown Dallas.

In addition to stunning housing and modern retail, the property will feature a cutting-edge innovation center designed to drive business growth, spark groundbreaking ideas, and attract top talent to Dallas. This aligns seamlessly with Qualified Opportunity Zone Business (QOZB) benefits, creating a powerful ecosystem that fosters job creation, community development, and long-term economic growth. For investors, this means more than tax-advantaged gains—it’s an opportunity to back a transformative project that boosts local prosperity while driving strong returns. The innovation center amplifies the value of the Opportunity Zone, making this development a catalyst for sustainable growth and success.

FULLY ENTITLED GROUND UP DEVELOPMENT

Fully entitled ground-up development matters because it eliminates regulatory hurdles, accelerates project timelines, and ensures investors and developers can move forward with confidence, maximizing profitability and reducing risk.

LAND OWNED OUTRIGHT & READY TO BUILD

Land owned outright and ready to build matters because it removes financing contingencies, expedites development timelines, and enhances investor confidence by eliminating acquisition risks and holding costs.

POSITIONED AS THE NEW FACE OF DOWNTOWN DALLAS, TX

Positioned as the new face of Downtown Dallas, TX matters because it signifies a transformative development that reshapes the city's skyline, attracts top-tier investment, and sets a new standard for urban growth and innovation.

Offering Highlights
Legal Entity Name
Dallas Opportunity Zone Fund I, LLC
Property Location
Southern Sector, Downtown Dallas, TX
Asset Class
Mixed Use Development
Investment Type
Single Asset
Investment Strategy
Opportunistic, Development
Investment Objective
Growth, Capital Gains Tax Reduction
Occupancy
388 Residential Units / 329,895 Rentable SF
Investor Profile
Accredited Investors Only
1031 Exchange Allowed?
Yes
Strategy
Opportunistic, Development
Opportunity Zone?
Yes
SD-IRAs Allowed?
No
Targeted Hold Period
10 Years
Targeted Total Raise
$48,870,000 LP Capital
Sponsor Co-Investment
Yes
Minimum Investment
$500,000
Investment Details
Description
Property Details

Investment Description

Hoque Global in partnership with ACARA Management, LLC are pleased to present accredited investors with one of the most compelling multifamily opportunities in the country. Based in Dallas Texas, Hoque Global currently owns (outright) fourteen acres in vibrant downtown Dallas.

The first two phases of this master planned community are scheduled to break ground in 2025,
consisting of a total of 388 units. ACARA Management, LLC is currently accepting both opportunity zone and non-OZ investors for these projects.

hoque global sogood dallas tx

Potential investors can request access to investment details and OZ Listings will connect you with ACARA Management.

Please watch the video below from Hoque Global, which outlines the vision for the southern part of Downtown Dallas and features comments from Texas Governor, Greg Abbott.

 

Property Description

SoGood is an ambitious master-planned urban community strategically located near some of Dallas' most iconic neighborhoods, including the Farmers Market, Deep Ellum, the Cedars, and Fair Park, all just south of Interstate 30. This project, spearheaded by Hoque Global, is designed to reshape Dallas’ southern sector, an area that has historically been overlooked for significant development and economic growth.

At the heart of SoGood lies an innovation center that will serve as a hub for creativity, entrepreneurship, and forward-thinking business endeavors. Surrounding this center will be hundreds of modern residential units, carefully curated dining experiences, and diverse commercial spaces that cater to both the local community and the broader city. This development is set to create a major innovation district, attracting talent, investment, and opportunity, thereby driving job creation and economic revitalization in a part of the city that has long been left behind.

HOQUE IMAGES 20241029 - 1

In addition to its focus on business and technology, SoGood is envisioned as a place where culture and community thrive. Engaging green spaces will provide areas for recreation and social interaction, while the introduction of unique, new eateries will establish SoGood as a destination for food lovers and urban explorers alike. The entire district is planned to offer a vibrant urban experience, blending modern living with creative, communal environments.
Through this development, Hoque Global is making a bold statement, aiming to prove the immense value and potential of investing in Dallas' southern neighborhoods. By creating a world-class urban district, SoGood will not only transform the landscape but also set a new standard for development in areas that have been neglected for far too long. The ultimate goal is to stimulate growth, foster innovation, and showcase the undeniable business case for focusing on the south, all while enhancing the quality of life for residents and visitors alike.

Investment Terms
Opportunity Zone Investment

Maximum Raise*

$48,870,000

Minimum Investment

$500,000

Anticipated Hold Period

10 years

Projected 5Y IRR

20-21% (Targeted 10Y Hold)

Equity Multiple

2.88%

Unlevered Yield on Cost

7.2%

Investors seeking to defer and potentially reduce capital gains tax liabilities may consider ACARA Management’s Dallas Opportunity Zone Fund I. By reinvesting eligible capital gains into a qualified Opportunity Zone fund, investors may be able to defer tax obligations while gaining exposure to a real estate investment with potential long-term appreciation.

Opportunity Zone investments also offer the possibility of tax-free growth on gains from the fund if held for at least 10 years, in accordance with Opportunity Zone regulations. While tax benefits depend on individual circumstances and current tax laws, this strategy is designed to encourage economic development while providing potential financial advantages to investors.

By participating in this fund, investors gain access to a structured investment vehicle focused on Opportunity Zone real estate, while also utilizing tax incentives that may support long-term wealth-building strategies. As always, investors should consult with a qualified tax advisor or financial professional to determine how Opportunity Zone benefits apply to their specific situation.

Indicate Interest
The Team

Hoque Global is a diversified investment company with a primary focus on catalytic enterprises in real estate. Its portfolio of companies includes those in the hospitality, event planning, logistics, transportation, and technology sectors. Over the years, Hoque Global has become a recognized leader in the revitalization, redevelopment, and re-energization of properties. Its discerning view to understand opportunities in proportion to their potential community impact has become Hoque Global’s primary strategy.

Founded on the principals established in three generations of the Hoque family's commitment to improving the world through leadership, innovation, and a relentless pursuit of diverse solutions, Hoque Global continues to innovate with success. Hoque Global’s leadership is built on birthing and pursuing new ideas in the global marketplace.

mike-hoque
CEO
Mike Hoque
Mike Hoque is a seasoned real estate sponsor and founder of Hoque Global, specializing in urban development and public-private partnerships. A Dallas 500 Business Leader, he has a strong track record in capital raising and high-impact investments.
arthur-santa-maria
Vice President
Arthur Santa-Maria
Arthur Santa-Maria, Vice President at Hoque Global, drives investments and urban development projects, collaborating with key stakeholders. With experience at Trammell Crow, CBRE, and JLL, he specializes in revitalizing city cores. Active in Dallas' real estate and civic community, he holds an MBA from UT Dallas.
steven-shelley
Multifamily Partner
Steven Shelley
Steven Shelley, co-founder of HG Residential Concept, partners with Hoque Global to develop rental housing through public-private partnerships. With 15+ years in multifamily, he has led $2B+ in transactions, specializing in finance, acquisitions, and development execution to drive project success.
todd-1
Partner, ACARA Management
Todd Vitzthum
Todd Vitzthum, founder of ACARA Management, is a national leader in multifamily capital markets, managing the fund for Hoque Global. With 20 years at CBRE, Cushman & Wakefield, and Greystone, he has led billions in transactions, specializing in capital structuring and large-scale investments.
Documents & Resources

Dallas Opportunity Zone Fund I, LLC

Due Diligence Materials (1/3)
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Pro Forma Financials
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Subscription Agreement
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Offering Deck
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Developer Site
Due Diligence Materials (2/3)
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Operating Agreement
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Debt Package
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Architectural Renderings
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Image Repository
Due Diligence Materials (3/3)
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Economic Analysis
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Commitment Letter
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ACARA™ Website
Access Data Room
Assumptions & Risks

Key Risk Factors for Investing in Dallas Opportunity Zone Fund I, LLC

Investing in ACARA Management private placements carries significant risks, including the potential loss of the entire investment. These investments are illiquid, speculative, and not suitable for all investors.

Key Risk Considerations:
  • High Risk & Limited Liquidity – No public market exists for these investments, making them suitable only for sophisticated investors.
  • Speculative Strategy & No Guaranteed Returns – Investment objectives may not be met, and returns are not assured.
  • Distributions & Redemptions – May be funded through borrowings, offering proceeds, or asset sales, with no limit on the amount sourced this way.
  • Market Volatility – Investments may include securities with high risk and fluctuating valuations.
  • Debt Financing Constraints – Access to financing may be restricted, subject to interest rate hikes, or include restrictive covenants and early repayment obligations.
  • Real Estate-Specific Risks – Includes tenant competition, occupancy challenges, interest rate exposure, insurance limitations, and inflation impact.
  • No Minimum Capital Raise Requirement – The offering proceeds regardless of total capital raised.
  • Potential Conflicts of Interest – Includes compensation structures, incentive fees, affiliated positions, co-ownerships, and investment allocation practices.

Schedule an Investor Strategy Call

Disclosures
This website and the information contained herein are for informational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy securities. OZ Listings does not engage in capital raising, securities offerings, or investment solicitation. Any investment opportunities referenced on this site are managed by third parties, including ACARA Management, LLC, which serves as the Fund Manager for Dallas Opportunity Zone Fund I, LLC (the “Fund”).
 
An offering is made only through a Private Placement Memorandum (“PPM”) or similar offering document provided by ACARA Management, LLC. The information presented must be read in conjunction with the PPM to fully understand the risks and benefits of the offering. Neither the U.S. Securities and Exchange Commission (“SEC”) nor any state securities regulator has approved or disapproved this offering. Any representation to the contrary is false and misleading. Investment is restricted to accredited investors as defined by the SEC (SEC.gov | Accredited Investors).
 
Investments in the Fund carry a high degree of risk, volatility, and illiquidity. Past performance is not indicative of future results, and there is no assurance that any investment objectives will be achieved. Investors should consult their own legal, tax, financial, and investment advisors before making any investment decision.
 
Forward-Looking Statements: Certain statements on this website may contain forward-looking information, including expectations, beliefs, and projections regarding financial performance, market conditions, and investment opportunities. These statements are subject to risks and uncertainties that may cause actual results to differ materially. Words such as “may,” “will,” “should,” “anticipate,” “believe,” “estimate,” “expect,” and similar expressions are intended to identify forward-looking statements. The Fund, ACARA Management, LLC, and OZ Listings undertake no obligation to update these statements to reflect future events or developments.
 
Investors should be aware that direct and indirect investments in real estate involve significant risk, including market fluctuations, economic conditions, interest rate changes, regulatory changes, development risks, liquidity risks, and other factors. The use of leverage or borrowed funds may increase financial risk. No public market exists for securities offered through private placements, and such investments may not be easily liquidated.
 
OZ Listings is not a registered broker-dealer, funding portal, or investment adviser. All securities-related inquiries should be directed to ACARA Management, LLC or other qualified fund managers. Any securities offering will be made only through the Fund’s official Fund Offering Materials, including the PPM, Operating Agreement, and Subscription Agreement, which will be provided to prospective investors upon request.
 
By accessing this website, you acknowledge that you understand the risks associated with Opportunity Zone investing and private real estate investments. OZ Listings assumes no responsibility for the accuracy, completeness, or timeliness of any third-party information presented.