1031 Crowdfunding, a real estate investing platform, has launched its Covenant Senior Housing REIT (CSHREIT).
As the company’s first REIT, CSHREIT focuses on stabilized, income-generating and opportunistic value-add commercial real estate with a concentration in senior housing, one of 1031 Crowdfunding’s investment specialties nationwide.
The private REIT seeks to help stockholders allocate a portion of their long-term investment portfolios to commercial real estate with the potential for lower volatility than many publicly traded REITs. Based on the REIT adviser’s asset valuation at the time of contribution, total asset value for the REIT is $51.25 million with an 89 percent occupancy rate across three properties in two states: Oregon and California.
“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 str