IRVINE, Calif. — 1031 Crowdfunding, an Irvine-based real estate investing platform, has fully subscribed its $16.9 million 1031CF Portfolio 1 DST.
This is the company’s sixth investment in senior living care facilities. The fund was used to acquire two memory care communities. Iris Senior Living is the operator of both properties, which are located in the Dallas-Fort Worth and Oklahoma City metro areas.
The facilities include a combined 88 beds and 76 units, and are currently 91 percent occupied. 1031 Crowdfunding’s affiliate, 1031 CF Properties LLC, created the investments to secure the participation of 47 outside investors.
The offering launched on Dec. 28, 2021, and was fully subscribed by March 10, 2022.
“As COVID-19 cases are decreasing, more families are feeling confident about moving their loved ones into senior living homes,” says Edward Fernandez, CEO and founder of 1031 Crowdfunding. “As people live longer, these types of communities are critical for families looking to provide quality late-life care for their loved ones. The dynamics of demographics and demand provide strong fundamental support for the investment case around senior living.”