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Three years ago, the Tax Cuts and Jobs Act of 2017 created a provision, known as qualified opportunity zones, to rejuvenate economically distressed communities across the US and its territories.

With roughly half of qualified opportunity funds focused on real estate projects and development, a significant group has chased real estate. On the commercial property side (including apartments, office, industrial, and retail), transactions carried a 14% to 20% price premium by capitalizing on tax benefits, according to Real Estate eJournal.

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