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1031 Crowdfunding Launches Private Senior Housing REIT Offering

1031 Crowdfunding Launches Private Senior Housing REIT Offering. 1031, 1031 crowdfunding, 1031 Exchange, alternative investment, assisted living, crowdfunding, REIT, REITs, UPREIT, Delaware statutory trust, DST, investment, memory care, tax-advantaged
1031 Crowdfunding Launches Private Senior Housing REIT Offering. 1031, 1031 crowdfunding, 1031 Exchange, alternative investment, assisted living, crowdfunding, REIT, REITs, UPREIT, Delaware statutory trust, DST, investment, memory care, tax-advantaged

1031 Crowdfunding, an online marketplace for investors seeking 1031 exchange-qualified properties, announced the launch of Covenant Senior Housing REIT Inc., a private offering seeking to raise up to $25 million from accredited investors. The company may expand the offering to $250 million.

The company says the REIT  will focus on stabilized, income-generating and opportunistic value-add commercial real estate with a concentration in senior housing. Based on the REIT’s external advisor’s asset valuation at the time of contribution, total asset value for the REIT is $51.25 million with an 89.0% occupancy rate across three properties in two states, Oregon and California, each of which was contributed in UPREIT transactions from affiliated Delaware statutory trust offerings sponsored by 1031 Crowdfunding.

“The Covenant Senior Housing REIT is the first of its kind for 1031 Crowdfunding and will allow us to acquire and manage more income-producing commercial properties and real estate-related assets within strategic markets nationwide,” said Edward Fernandez, president and chief executive officer of 1031 Crowdfunding. “We specialize in acquiring senior housing facilities, an asset class poised for robust and ongoing growth due to aging demographics and the long-term potential for a hedge against inflation. With a $5,000 minimum, we’re eager to reach accredited investors who want to invest in real estate yet embrace lower volatility than that of publicly traded REITs.”

According to 1031 Crowdfunding, the REIT will concentrate on secondary metro markets nationwide. Currently, the REIT holds three properties, all classified as assisted living and memory care facilities: Rosewood Specialty Care (Hillsboro, Oregon), Pacific View (Bandon, Oregon), and Sunlit Gardens (Rancho Cucamonga, California).

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.

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