LRT Co., a sponsor of alternative real estate investments and 1031 exchange offerings, announced it has fully subscribed its $17 million Delaware statutory trust (DST) offering, LRT Hardeeville Senior Living DST.
The all-cash DST will support the development of a 154-unit assisted living and memory care community, which will be built on 8.17 acres at 20 Island Gate Way in Hardeeville, S.C. The project has a long-term, 50-year, triple-net ground lease and is part of Island Gateway, a larger 82.6-acre master-planned development underway by LRT Development that is expected to include 600 multifamily residences, a care-continuum senior living campus, and 100,000 square feet of retail and self-storage space.
“This successful equity raise underscores advisers’ and investors’ confidence in our approach to ground-up development in growing markets,” said Lawrence LaBonte, founder and CEO of LRT. “With Hardeeville’s population rising by more than 72 percent since the
