1031 Crowdfunding Acquires Memory Care Facility
LAKE FOREST, Calif., May 3, 2018 (Newswire.com) - 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.”
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.
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. A copy of a prospectus must be made available to you in connection with any offering and should read carefully prior to investing. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) and 1031 Exchange properties. These include, but are not limited to, tenant vacancies; declining market values; potential loss of entire investment principal; that past performance is not a guarantee of future results; that potential cash flow, potential returns, and potential appreciation are not guaranteed in any way; adverse tax consequences and that real estate is typically an illiquid investment. IRC Section 1031, IRC Section 1033, and IRC Section 721 are complex tax codes; therefore, you should consult your tax and legal professional for details regarding your situation.
1031Crowdfunding.com is an investment platform owned by 1031 Crowdfunding, LLC. 1031 Crowdfunding is not a registered broker-dealer. Securities are offered through Capulent, LLC, a registered broker-dealer and member FINRA/SIPC (CRD# 155155). Certain principals of 1031 Crowdfunding are affiliated with Capulent, LLC and when offering investment services such offers are made in their capacities as registered representatives of Capulent, LLC.
Source: 1031 Crowdfunding, LLC