1031 Crowdfunding, a tax advantaged real estate investment platform, has fully subscribed its latest Delaware statutory trust offering, 1031CF Portfolio 2 DST, after raising nearly $24.2 million from accredited investors.
The offering, 1031 Crowdfunding’s second this year, launched on April 1st and was fully subscribed on June 22nd.
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 154 beds and an occupancy of 91 percent. The properties were completed in 2018 and 2019, and include two buildings situated on more than 16 acres. There are three full-service hospitals within a six-mile radius of the Columbus property, and three within a 25-mile radius of the Leesburg property. The facilities are operated by Oaks Senior Living LLC.
“We’re excited to close another portfolio and even more excited to offer more senior housing options,” said Edward Fernandez, president and chief executive officer. “Senior housing facilities are much needed for our aging population, but also present a great way for investors to diversify their investments.”
This is 1031 Crowdfunding’s seventh senior housing DST offering. The company fully subscribed its first multi-facility DST in March 2022. Prior to this, the company’s DSTs had been single-facility investments, but it began offering multi-facility portfolios “to provide investors with additional diversification.”
1031 Crowdfunding is an online marketplace where real estate investors can invest in 1031 exchange-qualified properties.