Madison Capital Group Launches $36.2 Million Qualified Opportunity Zone Fund for Downtown Reno Hotel Redevelopment

RENO, Nev. — Madison Capital Group, a Charlotte-based vertically integrated real estate investment firm, has launched a qualified opportunity fund targeting the redevelopment of a landmark hospitality asset in downtown Reno, the company announced June 30, 2026.

The vehicle, Madison Reno Hotel QOF, LLC, is targeting approximately $36.2 million in capital commitments from accredited investors and is focused on repositioning the former Harrah's Resort and Casino property into a premium Class A hospitality destination featuring approximately 292 guest rooms and full-service amenities.

Fund Structure and Investment Terms

The fund carries a minimum investment of $50,000 and is being offered exclusively to accredited investors under Regulation D, Rule 506(c) of the Securities Act of 1933. Because the offering permits general solicitation under Rule 506(c), prospective investors are required to meet verification requirements to confirm their accredited investor status.

As a qualified opportunity fund, Madison Reno Hotel QOF is structured to provide eligible investors with potential tax advantages tied to qualified opportunity zone investing. These include deferral of eligible capital gains and the potential elimination of taxes on future appreciation for investments held at least 10 years, subject to applicable law and individual circumstances.

"We believe the Reno market presents a compelling combination of favorable demographic trends, tourism demand, business migration and long-term redevelopment potential," said Ryan Hanks, CEO of Madison Capital Group Holdings. "We are pleased to offer investors an opportunity to participate in a tax-advantaged structure tied to a transformative hospitality asset."

The Reno Revival Project

The hotel component targeted by the fund is situated within Reno Revival, a 1.3 million-square-foot mixed-use redevelopment project in the heart of downtown Reno. The broader Reno Revival master plan encompasses multifamily, retail, office, and entertainment components in addition to the hospitality element.

The redevelopment is expected to contribute to the ongoing revitalization of downtown Reno by supporting economic activity, increasing hospitality capacity, generating jobs, and enhancing the surrounding mixed-use district, according to Madison Capital Group.

Reno Market Fundamentals

Madison Capital Group cited several market indicators supporting the fund's investment thesis. Reno welcomed approximately 3.8 million visitors in 2025, generating an estimated $5.2 billion in economic impact, according to the firm. Over the past five years, Reno's population grew approximately 7.2%, a pace the firm said significantly outpaced both state and national averages.

The firm pointed to expansion in technology, logistics, and data center industries, as well as continued in-migration from higher-cost West Coast markets, as drivers of Reno's economic growth. The city's demand base also includes tourism, conventions, the University of Nevada, Reno, regional healthcare systems, and a growing corporate presence.

About Madison Capital Group

Madison Capital Group is headquartered in Charlotte, N.C., and operates as a vertically integrated real estate investment and development firm with approximately $4 billion in assets under management. The firm focuses on the acquisition, development, and operation of multifamily, self-storage, recreational storage, marina, and commercial real estate assets nationwide. Madison Capital Group's integrated platform oversees sourcing, development, and asset management across the real estate lifecycle.

Sources: Madison Capital Group — Fund Announcement, June 30, 2026