IRVINE, Calif.–(BUSINESS WIRE)–1031 Crowdfunding (1031 CF), a real estate investing platform, announces the closing of its 1031 CF Bridge Fund, LLC. and the launch of 1031 CF Bridge Fund II, LLC.
1031 CF Bridge Fund II provides short-term financing for real estate programs controlled by the Fund’s Manager. It is anticipated that a significant portion of such funding will be made to programs organized as Delaware Statutory Trusts (“DSTs”) in order to offer prospective investors in such DSTs the opportunity to engage in a “like-kind exchange” under Section 1031 of the Code. 1031 exchange & cash investors incrementally purchase shares of the DST, returning principal to the Bridge Fund, allowing for future short-term financing. In the meantime, the Bridge Fund earns interest from the DST for providing the financing. However, the Fund is not limited solely to DST related Investments and may make other Investments in affiliates of the Manager, including into pooled investment vehicles organized as real estate funds or real estate investment trusts (“REITs”) sponsored by the Manager or an affiliate.
“We are excited to announce the launch of 1031 CF Bridge Fund II,” 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, and our Bridge Funds greatly assist in accomplishing that mission.”
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