Spring Gardens St. George and Spring Gardens Lindon
Senior housing property — sponsored by 1031 CF Properties
Files with the SEC as 1031CF Portfolio 4 DST
Minimum investment
$25k
Offering size
$30.5M
How much has sold
87.0%
Asset type
Senior housing property
Location
Not stated
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
1031CF Portfolio 4 DST is a Delaware Statutory Trust — a passive co-ownership vehicle eligible for 1031 exchanges — that owns two Utah senior housing communities, Spring Gardens St. George and Spring Gardens Lindon, both assisted living and memory care. The sponsor, then operating as 1031 Crowdfunding, acquired them for $43.5 million and launched the offering on January 13, 2023.1 The raise was reported fully subscribed.
Show sources (14)Hide sources (14)
These links support the historical public record; individual details may come from different sources.
- Business Wire (sponsor press release) ↗
- Seniors Housing Business ↗
- 1031 Crowdfunding (sponsor offering page) ↗
- Business Wire (sponsor press release) ↗
- Seniors Housing Business ↗
- 1031 Crowdfunding (sponsor offering page) ↗
- U.S. Securities and Exchange Commission, Form D ↗
- U.S. Securities and Exchange Commission, Form D/A ↗
- 1031crowdfunding.com ↗
- businesswire.com ↗
- altswire.com ↗
- multihousingnews.com ↗
- seniorshousingbusines… ↗
- top1031.com ↗
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Spring Gardens St. George was built in 2011 and Spring Gardens Lindon in 2016; both are assisted living and memory care communities in Utah. The sponsor bought the pair for $43.5 million in a transaction announced January 19, 2023.1 The sponsor's offering page reported combined occupancy of 95.5% but did not state an as-of date.3
- Property size
- 178-unit assisted living and memory care portfolio (156,473 sq ft across 5.85 acres)
Who is the tenant, and what's the lease?
Avista Senior Living operates both communities under the Spring Gardens name.4 Independent trade reporting described the facilities as subject to seven-year leases but did not identify the tenant or state the rent, and the SEC filings carry no lease terms.5
How did it end?
No ending on record
No public full-cycle sale announcement located for the Spring Gardens St. George and Lindon (Utah) senior housing portfolio; only the original February 2023 Form D and acquisition announcements are available.
Utah senior housing portfolio · Two-facility assisted living/memory care portfolio: Spring Gardens St. George (built 2011) and Spring Gardens Lindon (built 2016), both operated by Spring Gardens/Avista Senior Living; offering launched 1/13/2023 and was fully subscribed; total 178 units, 156,473 sq ft across 5.85 acres; sponsor: 1031 CF Properties LLC (formerly 1031 Crowdfunding); $43.5M acquisition price.
178-unit assisted living and memory care portfolio (156,473 sq ft across 5.85 acres)Supporting evidence
How is it financed, and what does it pay?
Neither Form D discloses debt. The sponsor's offering page cited a loan-to-value ratio without naming a lender or stating the loan amount, so the size and terms of any mortgage on the two communities are absent from the public record.6
Who's behind it?
When this Trust launched, the sponsor was operating as 1031 Crowdfunding, an online marketplace for exchange-eligible real estate, and later filed under the name 1031 CF Properties LLC. SEC filings name 1031 Crowdfunding LLC as manager of the sponsor and DNS Capital LLC as manager of that manager.7 The sponsor's January 2023 announcement described the purchase as its thirteenth senior housing facility, marking a platform concentrated in seniors housing.
- Sponsor
- 1031 CF Properties
- Legal Trust name
- 1031CF Portfolio 4 DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 1 active / 4 total offerings from 1031 CF Properties
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed its first Form D — the brief SEC notice that an exempt private placement has begun — weeks after the offering opened, then amended it once to update the amount sold and the number of investors.8 The exemption it used permits public advertising provided each investor's accredited status is verified.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to Spring Gardens St. George and Spring Gardens Lindon?
Top1031 lists Spring Gardens St. George and Spring Gardens Lindon as historical. It is no longer raising money.
Where does Top1031 get the data for Spring Gardens St. George and Spring Gardens Lindon?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
No. The offering launched January 13, 2023 and was reported fully subscribed, meaning it is closed to new investors.[1] The most recent SEC filing on record is a Form D amendment dated March 11, 2024. Investors mid-exchange should confirm current availability directly with the sponsor before relying on any listing.
What exactly would an investor have owned here?
A beneficial interest in a Delaware Statutory Trust that holds two Utah senior housing communities — Spring Gardens St. George and Spring Gardens Lindon. In a DST, investors hold passive interests, hold no management authority over the properties, and the interest is treated as replacement property for a 1031 exchange.
Who runs the buildings day to day?
Avista Senior Living operates both communities under the Spring Gardens name.[4] Senior housing is an operating business as well as real estate, so results depend heavily on the operator's occupancy, staffing, and care revenue rather than on rent from a single corporate credit tenant.
Is the Trust leveraged, and by how much?
The SEC Form D filings do not disclose debt. The sponsor's offering page cited a loan-to-value ratio but did not state a dollar loan amount or name a lender.[6] The actual mortgage amount, lender, maturity, and interest terms would appear in the private placement memorandum, the sponsor's full offering document.
Could this Trust convert into a REIT through a 721 exchange?
The pipeline data records no 721/UPREIT exit option for this Trust — that is the structure where DST investors contribute property to a REIT's operating partnership in exchange for partnership units. Exit terms are governed by the trust agreement and PPM.
Has the portfolio been sold?
No public disposition or full-cycle sale announcement has been located as of August 28, 2026. The last filing on the SEC record is the March 11, 2024 Form D amendment.[8] No outcome has been reported yet.
Chapter 91031 Crowdfunding Acquires 178-Unit Portfolio in UtahReports the 178-unit portfolio (Spring Gardens St. George and Spring Gardens Lindon) totals 156,473 sq ft across 5.85 acres; first Utah senior housing acquisition for the sponsor. 1031 Crowdfunding Buys Utah Senior Living CommunitiesTrade-press coverage of 1031 Crowdfunding's $43.5M acquisition of two assisted living/memory care communities in Utah for the 1031CF Portfolio 4 DST. 1031 Crowdfunding Acquires Thirteenth Senior Housing FacilityAnnounces acquisition of two assisted living/memory care facilities (178 units total) for the 1031CF Portfolio 4 DST in St. George and Lindon, Utah; offering launched January 13, 2023. 1031CF Portfolio 4 DSTSponsor market listing describing 1031CF Portfolio 4 DST as a 178-unit assisted living and memory care portfolio consisting of two facilities in St. George and Lindon, Utah. 1031 Crowdfunding Fully Subscribes Senior Housing DST PortfolioReports 1031 Crowdfunding fully subscribed its latest senior housing DST (7th), covering assisted living/memory care in St. George and Lindon, Utah.