McKnights Senior Living reporter Kathleen Steele Gaivin covers the news of 1031 Crowdfunding’s launch of its Covenant Senior Housing REIT, Inc. The REIT launched Nov. 1 with a focus on senior living, with total asset value for the REIT estimated to be $51.25 million and an 89% occupancy rate across three properties in California and Oregon.
1031 Crowdfunding has launched its first private real estate investment trust, Covenant Senior Housing REIT Inc., or CSHREIT, the company announced Thursday.
The REIT launched Nov. 1 with a focus on senior living. The total asset value for the REIT is estimated to be $51.25 million, with an 89% occupancy rate across three properties in California and Oregon, according to 1031 Crowdfunding.
The REIT’s primary objectives, according to a press release from the Irvine, CA-based real estate investing platform, are to preserve capital, generate income and grow the investment platform’s net asset value “as a potential offset to the erosion in the value of the dollar caused by inflation.”
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