1031 Crowdfunding announced today that on December 22, 2021, through its affiliate 1031 CF Properties, it acquired the Iris Memory Care Portfolio, a 76-unit / 88-bed memory care portfolio located in the Dallas-Fort Worth and Oklahoma City MSAs.
The portfolio was acquired on behalf of 1031CF Portfolio 1 DST, a private placement offering that seeks to raise $16.85 million in equity from accredited investors and has a minimum investment of $25,000.
The portfolio is operated by Iris Senior Living. Headquartered in Dallas, Texas, the Iris principals have over 30 years of combined real estate experience, including 15 years specifically in the development and operations of 20 Memory Care projects throughout Texas and the Southwestern United States.
“We are excited to partner with Iris Senior Living with their established track record, knowledge, and expertise in the region,” says Edward Fernandez, CEO and Founder of 1031 Crowdfunding. “Their unique home-like model lends itself to maintaining the health, happiness, and freedom of movement for each resident.”
Completed in 2016 and 2018, the two-property portfolio includes four buildings situated on over six acres of land. There are a combined 16 hospitals within a 10-mile radius of the Facilities.