Iris Memory Care of Turtle Creek / Laurel Lodge
Assisted living and memory care property in Cleveland, GA · sponsored by 1031 CF Properties
Iris Memory Care of Turtle Creek / Laurel Lodge was a DST sponsored by 1031 CF Properties that owned an assisted living and memory care property in Cleveland, GA (109 units). Its last Form D was filed Jul 18, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jul 18, 2022.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $37,150,000Equity offered, per the Form D
- Sold
- 2.9%Form D, Jul 18, 2022; the % is our arithmetic
- Investors reported
- Form D, Jul 18, 20224
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,263,500 · 6.0% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Iris Memory Care of Turtle Creek / Laurel Lodge. Top1031 is not a broker-dealer.What did the Trust own?
The Trust holds two senior-housing communities: Iris Memory Care of Turtle Creek at 3611 Dickason Ave. in Dallas and Laurel Lodge at 210 Hope Drive in Cleveland, Georgia. 2 The Dallas building operated as Silverado Memory Care of Turtle Creek until a Realty Capital Partners and Matteo Realty Partners venture bought and rebranded it in 2019. 3 Laurel Lodge completed a 16-unit wing in March 2022 and was fully occupied when it sold. 4 1031 Crowdfunding announced the acquisition July 6, 2022. 1
- Reported location
- Cleveland, GA
- Property size
- 109 units / 137 beds across two facilities
How was it financed, and what did it cost to sell?
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $2,263,500 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,127,500 · 5.7% of offeringForm D Item 16· The filing’s note: “Sponsor receives organization and offering expense reimbursement of $303,000 + real estate acquisition expenses of $690,000 + demand note capital of $400,000 + Acquisition fee of $614,500 + a financing arrangement fee of $120,000”
- Broker-dealers named in the Form D
- 1 named in the Form D
- Date of first sale
- Jul 6, 2022
- Minimum investment
- $25,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind the Trust?
1031 CF Properties LLC is the sponsoring entity behind 1031 Crowdfunding, an online platform that assembles replacement-property offerings for investors completing 1031 exchanges. Business Wire's July 6, 2022 announcement described this as the firm's eighth senior-housing DST, a sector the sponsor has concentrated on.
- Sponsor
- Offerings on record
What does the SEC record show?
One Form D — the short notice an issuer files after its first sale in an exempt private placement — is the whole SEC record here, with no amendment and no termination notice since. Because the offering may be generally solicited, it can be advertised publicly, but each buyer must be verified as an accredited investor.
- Legal Trust name
- 1031CF Portfolio 3 DST
- SEC CIK
- 1938423
- First Form D
- Jul 18, 2022
- Latest Form D
- Jul 18, 2022
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $37,150,000 | $1,089,962 | 4 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to Iris Memory Care of Turtle Creek / Laurel Lodge?
- Iris Memory Care of Turtle Creek / Laurel Lodge is a Historical offering. Last Form D filed Jul 18, 2022.
- What does 1031CF Portfolio 3 DST actually own?
- Two senior-housing communities in different states: Iris Memory Care of Turtle Creek, a memory-care building at 3611 Dickason Ave. in Dallas, Texas, and Laurel Lodge, an assisted-living and memory-care community at 210 Hope Drive in Cleveland, Georgia. 1031 Crowdfunding announced the acquisition of both on July 6, 2022.
- How much equity was the sponsor raising?
- The Business Wire announcement of July 6, 2022 stated the offering sought $25,150,000 in equity with a $25,000 minimum investment. The Form D filed July 18, 2022 reported a total offering amount of $37,150,000. The two figures come from different documents and public sources do not reconcile them.
- Who operates the two communities?
- At closing, Iris Senior Living continued to manage the Dallas community and Over the Top Management was named Laurel Lodge's property manager; the Laurel seller, an owner-operator, was engaged to keep operating the building. As of August 23, 2026, Laurel Lodge is presented under the Oaks Senior Living brand.
- Can this Trust roll into a REIT through a 721/UPREIT exit?
- No 721/UPREIT exit — the transaction in which trust interests are contributed to a REIT's operating partnership for OP units — is indicated for this Trust in the data on record. Any exit mechanics would be spelled out in the offering documents.
- What is not known from public records?
- Public sources do not establish the lease or master-tenant structure, the purchase price allocation between the two properties, whether the Trust carries mortgage debt and on what terms, current occupancy, or any final subscription or exit outcome. Those items would be addressed in the offering documents.
In the news
Sources
Show sources (9)Hide sources (9)
These links support the record as a whole; individual details may come from different sources.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.