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1031 Crowdfunding Acquires Thirteenth Senior Housing Facility
Tuesday 24 January 2023

US-based real estate investing platform 1031 Crowdfunding is expanding its holdings into Utah for the first time, adding to its existing portfolio in the western United States, the company said.

The company acquired two memory care and assisted living facilities for its ninth Delaware Statutory Trust offering. The facilities are located in St. George and Lindon, Utah, and consist of 178 units.

Both properties total 156,473 square feet across 5.85 acres, offer seven-year leases, and are within a four-mile radius of local hospitals.

The offering launched on January 13, 2023. With a total occupancy of 95.5%, the portfolio offers investors a cash flow of 5.24% and requires a minimum USD 25,000 investment.

The facilities, Spring Gardens St. George and Spring Gardens Lindon, were built in 2011 and 2016 and are operated by Avista Senior Living.

Avista Senior Living is no stranger to managing these types of facilities with 16 properties across five states under its management.

1031 CF began offering multi-facility portfolios to provide investors with additional diversification. 1031 CF has senior housing facilities in seven states.

1031 Crowdfunding is an online marketplace where real estate investors can find, view and purchase a variety of available, turnkey, investment-grade properties.
Date Published: 24/01/2023