1031 Crowdfunding Acquires Assisted Living/Memory Care Facility
Posted by Thomas Roussel
1031 Crowdfunding LLC announced today that on Jan. 1, 2019, through its affiliate 1031 CF Properties LLC, it acquired a 99-bed assisted living/memory care facility in Bandon, Oregon, for a purchase price of $19,050,000.
The 84-unit, 72,430-square-foot facility will be operated by Seasons Management LLC ("Seasons"). They have operated the facility since 2013 with a 92 percent average occupancy. The principals of Seasons have participated in the financing, development, construction and operation of over 200 properties during their careers in the senior housing industry.
"Senior housing has already outperformed other noted real estate sectors in the past 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. "The acquisition of this facility is a great way to start off the new year."
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.