1031 Crowdfunding, a tax advantaged real estate investment platform, has purchased an assisted living and memory care portfolio on behalf of 1031CF Portfolio 3 DST, a Delaware statutory trust offering.
The 137-bed/109-unit portfolio includes Iris Memory Care in Dallas, Texas and Laurel Lodge in Cleveland, Georgia. The properties have a combined occupancy of 95.6 percent.
1031CF Portfolio 3 DST seeks to raise approximately $25.2 million from accredited investors with a minimum investment of $25,000. Distributions start at an annualized rate of 5.5 percent.
“This is our eighth senior housing DST and second just this year,” said Edward Fernandez, chief executive officer and president. “Now is the time for investors to seriously consider investing in senior housing care facilities. The stability and need for these types of properties continues to surge which allows investors to benefit from such a portfolio.”
Iris Memory Care and Laurel Lodge will be operated by Iris Senior Living and Over the Top Management.
In other news, last month, 1031 Crowdfunding fully subscribed 1031CF Portfolio 2 DST after raising nearly $24.2 million from accredited investors.
1031 Crowdfunding is an online marketplace where real estate investors can invest in 1031 exchange-qualified properties. The company has reportedly facilitated more than 1,500 1031 exchanges on behalf of investors.
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