1031 Crowdfunding, LLC announced today it has fully subscribed its $16.85 million 1031CF Portfolio 1 DST. This is the company’s sixth investment in senior living care facilities and the latest example of the firm’s ability to create tax-savvy real estate investment opportunities.
1031CF Portfolio 1 DST includes two memory care facilities that are managed by Iris Senior Living and are located in the Dallas-Fort Worth and Oklahoma City metropolitan areas, respectively. The facilities include a combined 88 beds and 76 units, and are currently at 91% occupancy. 1031 Crowdfunding’s affiliate, 1031 CF Properties LLC, created the investments to secure the participation of 47 outside investors.
The offering launched on Dec. 28, 2021, and was fully subscribed by March 10, 2022, highlighting interest from investors within the real estate space. With the popularity of senior living facilities growing, especially ones with specialized care, there’s demand from investors seeking real estate opportunities.
“As COVID-19 cases are decreasing, more families are feeling confident about moving their loved ones into senior living homes,” said Edward Fernandez, CEO and founder of 1031 Crowdfunding. “As people live longer, these types of communities are critical for families looking to provide quality late-life care for their loved ones. The dynamics of demographics and demand provide strong fundamental support for the investment case around senior living.”
1031 Crowdfunding works with investors looking to reposition their real estate investment holdings in a tax-friendly manner and specializes in Delaware Statutory Trust (DST) offerings. Since its inception, the company has helped investors complete over 1,500 1031 exchanges.
Iris Senior Living, LLC is the operator of the two senior living facilities. Headquartered in Dallas, Texas the company has over 15 years of experience in developing and operating 20 Senior Memory Care projects with over 30 years of combined real estate experience. 1031 Crowdfunding is proud to partner with Iris Senior Living to continue providing specialized care to senior citizens.
About 1031 Crowdfunding, LLC
1031 Crowdfunding, LLC is an online marketplace where real estate investors can find, view and purchase a variety of available, turnkey, investment-grade properties. We present investors with 1031 exchange-qualified properties through Delaware Statutory Trusts (DSTs) to ensure every 1031 exchange investor has the opportunity to complete a successful exchange.