LRT Company Secures Full Subscription for $17 Million DST Offering to Develop Senior Living Community

LRT Company, a sponsor of alternative real estate investments and 1031 exchange offerings, has announced the full subscription of its $17 million Delaware statutory trust (DST) offering, named LRT Hardeeville Senior Living DST. This all-cash DST is earmarked for the development of a 154-unit assisted living and memory care community located at 20 Island Gate Way in Hardeeville, South Carolina. The project, situated on 8.17 acres, benefits from a 50-year, triple-net ground lease and is part of the larger Island Gateway development by LRT Development, which plans to include 600 multifamily residences, a senior living campus, and retail and self-storage spaces.

Lawrence LaBonte, founder and CEO of LRT Company, remarked on the equity raise's success as a testament to the confidence advisors and investors have in their development strategy within burgeoning markets. Hardeeville's population has surged by over 72% since the 2020 Census, underscoring the pressing need for contemporary senior housing solutions. The 20 Island Gate Way project leverages the area's demographic growth, regional tourism, and an influx of retirees seeking quality living options, located near Hilton Head Island, a prime Southeast destination.

Further expanding its portfolio, LRT Company has introduced the LRT Coventry RI DST, aiming to raise $20.55 million for the development of a senior housing campus in Coventry, Rhode Island. This initiative reflects LRT's commitment to addressing the senior living demand across the Southeast and Mid-Atlantic regions, backed by a team with over 35 years of real estate experience. For more information on LRT Company's projects and offerings, visit https://www.lrtcompany.com.