1031 Crowdfunding, a tax advantaged real estate investment platform, has purchased a 154-bed/unit assisted living and memory care facility portfolio for its Delaware statutory trust offering, 1031CF Portfolio 2 DST.
1031CF Portfolio 2 DST consists of two facilities in Georgia – Oaks at Grove Park in Columbus and Oaks at Oakland Plantation in Leesburg – with a combined occupancy of 91 percent. Completed in 2018 and 2019, the properties are comprised of two buildings situated on 16 acres with six hospitals within a 25-mile radius. The facilities are operated by Oaks Senior Living LLC.
The offering seeks to raise $24.15 million in equity from accredited investors and has a “current cash flow return of 5.75 percent,” the company said. The minimum investment of $25,000.
The Southeast, and Georgia in particular, continues to be a target for investment opportunities by 1031 Crowdfunding, as more than 285,000 people relocate to the state annually.
“Georgia’s growing popularity for relocation makes it an attractive investment opportunity,” explains Edward Fernandez, chief executive officer and president of. “And as the population ages, memory care and assisted living facilities are essential. This, combined with continued investor interest in real estate offerings, made this an attractive addition to our suite of DST investment options. We’re excited for what our partnership with Oaks Senior Living will offer investors.”
1031 Crowdfunding is an online marketplace where real estate investors can invest in 1031 exchange-qualified properties. Since inception, it has completed more than 1,500 1031 exchanges on behalf of investors.