1031 Crowdfunding Closes Senior Housing DST Portfolio as Opportunity Reaches Full Subscription
Data from the CDC shows the average life expectancy for Americans now stands at 77 years old, following a steady rise in recent decades. Increased longevity is leading Americans to think more about their living arrangements as they age. As a result, the need for senior housing facilities is rising, presenting real estate investors with more opportunities to become owners of these facilities.
1031 Crowdfunding (1031CF), a real estate investing platform, recently fully subscribed its 1031CF Portfolio 2 DST for $24,150,000. This is the second portfolio the company has offered this year. The offering was launched through 1031CF's affiliate, 1031 CF Properties, LLC on April 1, 2022, and became fully subscribed on June 22. Located in Columbus and Leesburg, Georgia, the 154 bed/unit portfolio has a combined occupancy of 91%.
"We're excited to close another portfolio and even more excited to offermore senior housing options," said Edward Fernandez, president and CEO of 1031 Crowdfunding. "Senior housing facilities are much needed for our aging population, but also present a great way for investors to diversify their investments."
Oaks at Grove Park and Oaks at Oakland Plantation are operated by Oaks Senior Living, LLC. The properties were completed in 2018 and 2019, and include two buildings situated on over 16 acres. There are three full-service hospitals within a six-mile radius of the Columbus property and three within a 25-mile radius of the Leesburg property. Headquartered in Alpharetta, Georgia, Oaks Senior Living, LLC has over 25 years of experience in developing and operating senior housing facilities in both Georgia and South Carolina.
This is 1031CF's seventh senior housing DST. 1031CF fully subscribed its first multi-facility DST portfolio in Dallas-Fort Worth, Texas, and Oklahoma City, Oklahoma, in March 2022. Prior to this, 1031CF DSTs had been single-facility investments. 1031CF began offering multi-facility portfolios to provide investors with additional diversification.
About 1031 Crowdfunding
1031 Crowdfunding is an online marketplace where real estate investors can find, view and purchase a variety of available, turnkey, investment-grade properties. We present investors with 1031 exchange-qualified properties through Delaware Statutory Trusts (DSTs) to ensure every 1031 exchange investor has the opportunity to complete a successful exchange.
For more information on 1031 Crowdfunding, visit www.1031Crowdfunding.com or call 844-533-1031.