1031 Crowdfunding Acquires Memory Care Facility
1031 Crowdfunding, LLC announced today that on May 1, 2018, through joint venture with Seasons Management, LLC, it acquired a 48-bed memory care facility in Hillsboro, Oregon for a total purchase price of $14 million.
The 44-unit, 22,950 square foot facility will be operated by an affiliate of Frontier Management, LLC ("Frontier"). They have operated the facility since 2008 with a 93.75 percent average occupancy. Frontier operates over 80 facilities in 12 states, with 33 located in Oregon. They were ranked #17 among the nation's Top 50 Largest Providers, and #10 among the nation's Top 10 Largest Memory Care Providers by Argentum Senior Living Executive magazine.
"Senior housing has already outperformed other noted real estate sectors and we believe it will continue to be a favorable opportunity due to impressive demographic fundamentals," said Edward Fernandez, Founder and Chief Executive Officer of 1031 Crowdfunding. "We are particularly excited about the memory care sector."
This material does not constitute an offer to sell or a solicitation of an offer to buy any security. An offer can only be made by a prospectus that contains more complete information on risks, management fees and other expenses. This literature must be accompanied by, and read in conjunction with, a prospectus or private placement memorandum to fully understand the implications and risks of the offering of securities to which it relates. As with all investing, investing in private placements are speculative in nature and involve a degree of risk, including loss of your principal. Past performance is not necessarily indicative of future results and forward-looking statements and projections are not guaranteed to achieve the results described and your actual returns may vary significantly. Investments in private placements are illiquid in nature and there may be no secondary market or ability to sell the investment should the need for liquidity arise. This material should not be construed as tax advice and you should consult with your tax advisor as individual tax situations will vary. Securities offered through Capulent, LLC, member FINRA, SIPC.