IRVINE, Calif., November 09, 2023–(BUSINESS WIRE)–1031 Crowdfunding (1031 CF), a real estate investing platform, today announces the launch of its Covenant Senior Housing REIT, Inc. (CSHREIT). As the company’s first Real Estate Investment Trust offering, CSHREIT focuses on stabilized, income-generating and opportunistic value-add commercial real estate with a concentration in senior housing, one of 1031 CF’s investment specialties nationwide.
The private REIT seeks to help stockholders allocate a portion of their long-term investment portfolios to commercial real estate with the potential for lower volatility than many publicly traded REITs. Based on the REIT 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.
“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 CEO 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.”
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