1031 Crowdfunding Acquires California Assisted Living/Memory Care Facility
LAKE FOREST, Calif., August 7, 2019 (Newswire.com) - 1031 Crowdfunding, LLC announced today that on Aug. 2, 2019, through its affiliate 1031 CF Properties LLC, it acquired a 100-bed assisted living/memory care facility in Rancho Cucamonga, California, for a purchase price of $20,060,000.
The Facility is operated by Meridian Senior Living. Meridian is a respected and experienced assisted living and memory care provider and has a national footprint, with a current estimated portfolio value that exceeds $1.25 billion.
“We are excited to acquire a facility in a strong market with an established operator,” said Edward Fernandez, Founder and Chief Executive Officer of 1031 Crowdfunding. “In senior housing, your facility is only as good as its operator, we are glad to be able to partner with Meridian.”
About 1031 Crowdfunding, LLC
1031 Crowdfunding, LLC is an online marketplace where real estate investors can find, view, and purchase a variety of available, turn-key, 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. Contact an experienced representative at 1031 Crowdfunding for further information about for your investing needs.
For more information on 1031 Crowdfunding, visit www.1031Crowdfunding.com or call (844) 533-1031.
Source: 1031 Crowdfunding LLC