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Purpose

ST Commercial Capital (ST) was founded in 2026 by longtime commercial real estate attorney Scott Toussaint following changes to the Qualified Opportunity Zone (QOZ) subchapter of the Internal Revenue Code enacted in 2025, taking effect in 2027, and commonly referred to as “QOZ 2.0”.  While the QOZ rules are complex and difficult to grasp, once understood, they reveal a golden opportunity.

To take advantage of this "hidden gem" of an opportunity is the reason for ST's creation.

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From an investor's standpoint, the beauty of QOZ investing is that, unlike 1031 exchanges where the taxpayer-investor must jump through numerous hoops to qualify, most of the complicated / difficult hoop-jumping requirements are imposed at the investment fund-level, meaning that it is left up to the fund's sponsor to navigate.

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A sophisticated investment fund sponsor can navigate the numerous complexities of QOZ investing and deploy the tax breaks it offers to attract investment.  Mr. Toussaint, an MIT graduate with more than a quarter-century of commercial real estate law practice under his belt, has carefully mapped out the QOZ requirements.


Tax breaks alone won't make a bad investment good, and identifying the right development deal is paramount.  Mr. Toussaint's years of (ongoing) experience as General Counsel of a commercial real estate brokerage & development firm has provided the connections and education needed to identify the right market, property, tenant(s) and structure for a strong and safe development project.


By coupling the QOZ tax breaks with a development project that pencils regardless, ST intends to provide investors -- especially those with recently or soon-to-be realized capital gain -- the very significant capital gains tax benefits of QOZ 2.0. 


With this in mind, and in anticipation of the QOZ 2.0 effective date on January 1, 2027, ST is targeting formation of its initial fund in mid-2027.

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Owner-Operator Profile

(Scott Toussaint)

curriculum vitae

General Background


Scott Toussaint is a California-licensed real estate attorney with more than 25 years of experience in commercial real estate transactions, contract negotiation, and legal compliance. A Northern California native, Scott earned a B.S. in Mathematics from MIT in Cambridge, Mass. In 1992 and a J.D. from Hastings College of the Law (now UC Law San Francisco) in San Francisco in 1998 – and has spent his entire career at the intersection of law and commercial real estate.

Experience


After more than a decade representing individuals and businesses in a wide variety of commercial real estate transactions at the Thoits Law firm in Palo Alto, followed by a 4-year stint in Rocklin, Calif. (near Sacramento) serving as in-house real estate counsel (first for Sleep Train Mattress Centers, followed by Sleep Train’s acquiror Mattress Firm) where he rose to the rank of Vice President and led a legal team responsible for lease negotiations across the national retail chain’s 3,500+ locations, Scott has most recently (since 2020) served as General Counsel at Capital Rivers Commercial, a full-service commercial real estate firm based in Sacramento.  At Capital Rivers, Scott manages the legal side of the company’s wide-ranging commercial development activities as well as overseeing compliance matters in all other lines of the business, and general corporate compliance.

Expertise


Scott has followed Qualified Opportunity Zone law since its enactment, including its treatment under California tax law, where he has written on the subject on behalf of Capital Rivers Commercial.  His background gives him an uncommon vantage point: the legal training to structure QOZ fund investments properly and the commercial real estate experience to evaluate the underlying assets critically. He brings both to bear in identifying, structuring, and managing the investments offered through his company.

Licenses


Scott holds California State Bar License No. 197996 and California Department of Real Estate Broker License No. 01707895.