1031 Crowdfunding Buys Portland-Area Memory Care Facility
- May 07, 2018
In a joint partnership with Seasons Management, 1031 Crowdfunding LLC has acquired Rosewood Specialty Care, a 48-bed memory care facility near Portland. The asset, located in Hillsboro, Ore., traded for $14 million.
The property is situated at 2550 S.E. Century Blvd., on the southeastern part of Hillsboro and across the street from Rosewood Park, a retirement and assisted living community. Both properties are operated by Frontier Management. The company has been managing the memory care facility since 2008 and will continue its role under the new ownership.
The facility has an average occupancy rate of 93.8 percent. Rosewood Specialty Care provides a Pathway program, along with a Montessori-based approach, including services, such as:
- family-style meals
- group activities (ex. gardening, cooking, music)
- medication management
- fully supervised activity program
- security system
“Senior housing has already outperformed other noted real estate sectors and we believe it will continue to be a favorable opportunity due to impressive demographic fundamentals,” said Edward Fernandez, founder & chief executive officer of 1031 Crowdfunding, in a prepared statement. “We are particularly excited about the memory care sector.”
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