1031 Crowdfunding, a real estate investing platform headquartered in Irvine, California, has launched its first real estate investment trust offering with Covenant Senior Housing REIT Inc. (CSHREIT).
According to the company, CSHREIT is classified as a non-listed, perpetual-life real estate investment trust that focuses on stabilized, income-generating and opportunistic value-add commercial real estate, with a concentration in senior housing. CSHREIT will concentrate on secondary metro markets nationwide. Currently, the REIT holds three properties, all classified as assisted living and memory care facilities: Rosewood Specialty Care (Hillsboro, Oregon), Pacific View (Bandon, Oregon), and Sunlit Gardens (Rancho Cucamonga, California).
CSHREIT is being made available for accredited investors only.
“The Covenant Senior Housing REIT is the first of its kind for 1031 Crowdfunding and will allow us to acquire and manage more income-producing commercial properties and real estate-related assets within strategic markets nationwide,” said Edward Fernandez, president and CEO of 1031 Crowdfunding. “We specialize in acquiring senior housing facilities, an asset class poised for robust and ongoing growth due to aging demographics and the long-term potential for a hedge against inflation. With a $5,000 minimum, we’re eager to reach accredited investors who want to invest in real estate yet embrace lower volatility than that of publicly traded REITs.”