FAQ: LRT Company's $20.55 Million All-Cash DST Offering Near Providence, R.I.
Summary
What is the LRT Coventry RI DST offering?
The LRT Coventry RI DST is a $20.55 million all-cash, Regulation D private placement Delaware statutory trust offering by LRT Company, aimed at accredited investors for the development of a senior housing campus on 14 acres of undeveloped land in Coventry, R.I.
Why is the LRT Coventry RI DST offering significant?
This offering is significant because it addresses the pent-up demand for senior housing in the area and, for the first time, includes low-income housing units to help seniors in need, amidst a projected shortage of senior housing.
How does the ground lease agreement work for the LRT Coventry RI DST?
The land is ground leased for 50 years on a triple net basis, with the Tiffany Laurel Reserve senior housing campus to be developed on it, including potential rent escalations and future capital transaction proceeds.
Who is behind the LRT Coventry RI DST offering?
LRT Company, a land acquisition and real estate investment firm specializing in senior and multifamily housing, founded by Lawrence LaBonte, who has over 35 years of commercial real estate experience.
Where is the LRT Coventry RI DST located?
The offering is for 14 acres of undeveloped land in Coventry, a suburb of Providence, Rhode Island, known for its peaceful, nature-surrounded setting and excellent access to major highways.
What are the expected features of the Tiffany Laurel Reserve?
The Tiffany Laurel Reserve is expected to include 204 independent living, assisted living, and memory care units across 157,000 square feet, with 56 structured parking garage spaces, in a setting that promotes outdoor recreation and relaxation.
How does this project benefit the local community?
The project benefits the local community by addressing the demand for senior housing, including low-income units, and by contributing to the local economy through development and potential future capital transactions.
What makes Coventry an attractive location for this project?
Coventry is attractive due to its large senior population, proximity to major highways for accessibility, and its peaceful, nature-surrounded setting, making it ideal for senior housing.
How can interested investors get more information?
Interested investors can visit LRT Company’s website at http://www.lrtcompany.com for more information on the offering and how to participate.
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