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CrowdStreet rolls out opportunity zone fund

Online commercial real estate investment marketplace operator CrowdStreet Inc. launched a $20 million fund that will target new developments and redevelopments in small and midmarket opportunity zones across the U.S.

The investment vehicle was launched through CrowdStreet Advisors LLC.

CrowdStreet Vice President of Investments Ian Formigle said opportunity zone investments are in line with the company's general focus on 18-hour cities.

The federal opportunity zone program offers tax incentives to spur investments in economically distressed communities across the U.S.