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1031 Crowdfunding Acquires Two Florida Assisted Living Facilities for DST Offering

1031 Crowdfunding Acquires Two Florida Assisted Living Facilities for DST Offering. 1031, 1031 crowdfunding, 1031 Exchange, alternative investment, assisted living, crowdfunding, Delaware statutory trust, DST, investment, memory care, tax-advantaged
1031 Crowdfunding Acquires Two Florida Assisted Living Facilities for DST Offering. 1031, 1031 crowdfunding, 1031 Exchange, alternative investment, assisted living, crowdfunding, Delaware statutory trust, DST, investment, memory care, tax-advantaged

1031 Crowdfunding, an online marketplace for investors seeking 1031 exchange-qualified properties, announced the acquisition of two assisted living facilities in Florida for its 10th Delaware statutory trust offering.

The facilities are located in Lake City and Palm Coast and consist of 114 units overall, with a combined occupancy of 87.8%. While the purchase price of the properties was not disclosed, the related DST offering seeks to raise up to $28.4 million of equity.

The company says the DST offering launched on Sept. 6, 2023, and offers investors a current cashflow of 5.75% and requires a minimum $25,000 investment. Capulent LLC is 1031 Crowdfunding’s managing broker-dealer.

The two facilities, The Canopy at Harper Lake in Lake City and Gold Choice Palm Coast Assisted Living & Memory Care, are operated by Gold Choice Senior Communities, a regional owner and operator of assisted living and memory care communities throughout Florida. The company says residents at Gold Choice participate in life enrichment programs that encourage brain stimulation, physical activity, entertainment and participation. The communities’ memory care program offers a fully trained care team ready to support the unique needs of residents living with Alzheimer’s and other types of dementia.

“As 1031 Crowdfunding continues to expand nationwide, we found opportunities within the Florida market to make an impact not just for our investors but also for aging seniors residing at our senior housing facilities,” said Edward Fernandez, president and CEO of 1031 Crowdfunding. “We continue to look to grow our real estate portfolio in strategic markets where we see ongoing potential for senior housing growth. We selected these two properties in northern Florida to serve the baby boomer population as they continue to retire and seek out the climate and tax advantages of the state.”

For more 1031 Crowdfunding news, please visit their directory page.