1031 Crowdfunding Launches Private Senior Housing REIT Aimed at ‘Lower Volatility’

By Darian E. Fernandez | November 10, 2023

Edward Fernandez, President and CEO of 1031 Crowdfunding, discusses why a REIT, such as the newly launched Covenant Senior Housing REIT, is a strategic investment vehicle for Senior Housing acquisition and can offer more flexibility than other investments: “In a REIT, you don’t have those restrictions so you can refinance, you can buy value-add and you can buy opportunistic. You have better leeway to navigate any situation or to create opportunity, which makes the structure a lot easier to work with as a sponsor,” says Fernandez.

A senior living investment company is expanding its reach with the announcement of a new, privately-traded real estate investment trust (REIT) that will create better leeway in navigating senior living investment, according to 1031 Crowdfunding CEO Edward Fernandez.

On Thursday, 1031 Crowdfunding announced the launch of the Covenant Senior Housing REIT, Inc, which aims to create new ways for senior living investors to grow their holdings.

The newly-formed REIT stands as its own company, and 1031 is the REIT’s sponsor. With the launch, 1031 Crowdfunding is focusing on “exchange-type vehicles” and working with investors interested in “non-correlating assets who want to invest in senior housing,” Fernandez told Senior Housing News.

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