LRT Company Fully Subscribes $17M DST Offering Near Hilton Head Island

LRT Company – a sponsor of alternative real estate investments and 1031 exchange offerings – announced it has fully subscribed its $17 million Delaware statutory trust offering, LRT Hardeeville Senior Living DST.

The all-cash DST, which launched last fall, will support the development of a 154-unit assisted living and memory care community, which will be built on 8.17 acres at 20 Island Gate Way in Hardeeville, S.C. The project has a long-term, 50-year, triple-net ground lease and is part of Island Gateway, a larger 82.6-acre master-planned development underway by LRT Development that is expected to include 600 multifamily residences, a care-continuum senior living campus, and 100,000 square feet of retail and self-storage space.

“This successful equity raise underscores advisers’ and investors’ confidence in our approach to ground-up development in growing markets,” said Lawrence LaBonte, founder and chief executive officer of LRT Company. “With Hardeeville’s population rising by more than 72% since the 2020 Census, the need for modern senior housing solutions is clear, and our development is positioned to meet that demand.”

Located near Hilton Head Island, one of the Southeast’s most popular destinations, the 20 Island Gate Way project draws on strong demographic trends, regional tourism, and a surge of relocating retirees seeking quality senior living options. Hilton Head Island is located in Beaufort County, approximately 20 miles northeast of Savannah, Ga., and 95 miles southwest of Charleston. The city’s population grows during the summer vacation season, with approximately 2.5 million visitors throughout each year, according to HiltonHead.com. It is within the Hilton Head Island-Bluffton-Port Royal metropolitan statistical area, with a population of approximately 232,000.

LRT recently launched LRT Coventry RI DST, an all-cash DST offering seeking to raise $20.55 million in equity from accredited investors. LRT Coventry RI DST consists of 14 acres of undeveloped land in Coventry, a suburb of Providence, R.I., that is ground leased for 50 years on a triple net basis. As part of the ground lease agreement, Tiffany Laurel Reserve, a senior housing campus with 204 independent living, assisted living and memory care units, will be designed, developed, and constructed on the land.

LRT Company is a ground-up development company specializing in the entitlement and development of multifamily and senior housing projects.

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