August 8, 2019
Lake Forest, CA-based 1031 Crowdfunding, LLC acquired Sunlit Gardens, a 100-bed assisted living/memory care facility in Rancho Cucamonga, CA. The property was purchased through its affiliate 1031 CF Properties LLC for more than $20 million.
The facility is operated by Bethesda, MD-based Meridian Senior Living, a national assisted living and memory care provider with a current estimated portfolio value that exceeds $1.25 billion.
“We are excited to acquire a facility in a strong market with an established operator,” said Edward Fernandez, Founder and Chief Executive Officer of 1031 Crowdfunding. “In senior housing, your facility is only as good as its operator, and we are glad to be able to partner with Meridian.”
Connect Orange County is coming up on August 22nd at The Resort at Pelican Hill in Newport Coast. More information about the event and registration information can be found here.
For comments, questions or concerns, please contact Dennis Kaiser