Fieldstone Grandridge and Fieldstone Memory Care
Senior living (assisted living / memory care) property in Kennewick, WA — sponsored by Bourne Financial Group
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
BFG Kennewick DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — sponsored by Bourne Financial Group. It holds two senior housing properties in Kennewick, Washington: Fieldstone Grandridge (independent and assisted living) and Fieldstone Memory Care, acquired in March 2018 by a joint venture of Bourne and Cascadia Senior Living.2 One Form D is on record.
Minimum investment
$25k
Offering size
$18.9M
How much has sold
24.0%
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
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?
Fieldstone Grandridge stands at 7255 W. Grandridge Blvd.; Cascadia Senior Living & Development finished the three-story, 77,000-square-foot building with 90 apartments, all licensed for assisted living, in April 2016 at a reported cost of $15.5 million.3 Fieldstone Memory Care, at 575 N. Young St., is listed with 69 licensed beds — licensed capacity, not occupancy.4 A Bourne–Cascadia joint venture bought both in March 2018.2
- Reported location
- Kennewick, WA
- Property size
- 138 units (across both buildings)
Who is the tenant, and what's the lease?
Cascadia Senior Living operated the communities and continued operating them after the acquisition, so cash flow rests on a senior-housing business — resident fees, staffing, census — rather than one corporate tenant's rent check.2 No master lease or operating-agreement terms appear in the public record.
How did it end?
No ending on record
BFG Kennewick DST (filed May 1, 2018; $4,150,000 offering) holds Fieldstone Grandridge (AL/IL, 7255 W Grandridge Blvd, Kennewick, WA 99336) and Fieldstone Memory Care (575 N Young St, Kennewick, WA 99336); CBRE arranged $26.4M acquisition financing in March 2018 for Bourne Financial Group and Cascadia Senior Living joint venture.
138 units (across both buildings)Supporting evidence
Counted on Bourne Financial Group, LLC’s Record Card as: No public outcome found Document
How is it financed, and what does it pay?
This is a leveraged Trust: mortgage debt sits beneath the equity, so loan terms shape investor risk as much as the buildings do. CBRE arranged $26.4 million of acquisition financing for the joint venture that bought the two communities in March 2018.2
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Bourne Financial Group, LLC is the sponsor. It paired with Cascadia Senior Living & Development, the Pacific Northwest developer that built and owned Fieldstone Grandridge.3 The two formed the joint venture that acquired both Kennewick communities in March 2018, with Cascadia staying on as operator.2 No later filings for this Trust appear on EDGAR, and research through August 18, 2026 surfaced no sponsor announcement of a sale, refinancing, or exit.
- Sponsor
- Bourne Financial Group
- May convert to a REIT
- No
- Offerings from this sponsor
- 0 active / 2 total offerings from Bourne Financial Group
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A single Form D was filed and never amended, so the equity and investor figures on record are frozen at the day of that filing rather than updated for anything that happened afterward. The Trust was offered under Rule 506(b), the private-placement exemption that bars general advertising and limits sales to accredited investors.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- BFG Kennewick DST
- Filings on record
- 1
- How it may be offered
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- 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 Fieldstone Grandridge and Fieldstone Memory Care?
Fieldstone Grandridge and Fieldstone Memory Care is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Fieldstone Grandridge and Fieldstone Memory Care?
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.
Is BFG Kennewick DST still open to new investors?
Unclear from public filings. The only Form D on record was filed May 1, 2018 and has never been amended, so no updated figures exist, and Bourne Financial Group has no active offerings listed on Top1031 (zero active of two total). Anyone mid-exchange should confirm availability directly with the sponsor before relying on it.
What kind of real estate is this?
Two senior housing buildings in Kennewick, Washington: Fieldstone Grandridge, an independent and assisted living community at 7255 W. Grandridge Blvd., and Fieldstone Memory Care at 575 N. Young St. Senior housing is an operating business, not a passive net-leased building, so revenue depends on resident census, care staffing, and state licensing.
Who runs the communities day to day?
Cascadia Senior Living & Development. Cascadia built and owned Fieldstone Grandridge, was part of the joint venture with Bourne Financial Group that acquired the two communities in March 2018, and continued as operator after the sale.
Can this Trust roll into a REIT through a 721 exchange?
No. The record shows no 721/UPREIT feature — the structure in which a DST's property is contributed to a REIT's operating partnership in exchange for OP units. Investors here should expect a conventional DST exit path and confirm the exit language in the PPM.
How much debt was placed on the properties?
CBRE arranged $26.4 million of acquisition financing for the Bourne–Cascadia joint venture in March 2018, reported as fixed-rate with a seven-year term and 36 months of interest-only payments. How much of that debt sits inside this Trust, and whether it has since been refinanced, is not settled by public filings.
Why is only one filing on record?
Sponsors file a Form D within 15 days of the first sale and may, but need not, amend it as a raise progresses. Bourne filed once, on May 1, 2018, and never amended, so EDGAR captures a single snapshot of this offering rather than its full history.
Chapter 9CBRE Arranges $26.4M Acquisition Financing for 138-Unit Seniors Housing Community in WashingtonCBRE arranged $26.4M in acquisition financing for Fieldstone Grandridge and Fieldstone Memory Care, a 138-unit seniors housing community in Kennewick, WA, acquired by a joint venture between Bourne Financial Group and Cascadia Senior Living.