Spring Village at Pocono
Senior living (assisted living / memory care) property in East Stroudsburg, PA — sponsored by Bourne Financial Group
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These links support the historical public record; individual details may come from different sources.
- U.S. Securities and Exchange Commission — SEC Form D ↗
- Spring Village at Pocono (property website) ↗
- Seniors Housing Business ↗
- Pennsylvania Department of Human Services ↗
- Pennsylvania Department of Human Services ↗
- U.S. Securities and Exchange Commission — SEC Form D ↗
- U.S. Securities and Exchange Commission — SEC Form D ↗
- springvillagepocono.c… ↗
- bournefg.com ↗
- bournefg.com ↗
What is this, in one paragraph?
Spring Village at Pocono is the property behind BFG Pocono DST, a Delaware statutory trust — a passive co-ownership vehicle whose interests qualify for 1031 exchange treatment — that Bourne Financial Group organized in 2017.1 The asset is a personal-care and memory-care community in East Stroudsburg, Pennsylvania.2 The Trust is closed to new investors, and its 2017 notice filing was never amended.
Minimum investment
$25k
Offering size
$7.7M
How much has sold
None sold yet
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
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?
Spring Village at Pocono is a personal-care and memory-care community at 329 E. Brown Street in East Stroudsburg, Pennsylvania.2 Bourne Financial Group and WoodBine Senior Living acquired it in August 2015 at an undisclosed price.3 Pennsylvania licensing records from 2018 name BFG Pocono Master Tenent LLC as the legal entity at that address.4 The 2025 licensing report names BFG Pocono Springing, LLC — neither is this Trust.5
- Reported location
- East Stroudsburg, PA
- Property size
- 69 units (housing up to ~93 residents)
Who is the tenant, and what's the lease?
No trust-level lease or master-lease terms appear in any public filing. WoodBine Senior Living was named as operator when the community changed hands in August 2015.3 Pennsylvania licensing records from 2018 list BFG Pocono Master Tenent LLC, a name consistent with the master-lease structure senior-housing trusts use, where an affiliated tenant runs the building and pays rent.4
How did it end?
No ending on record
Sponsor Bourne Financial Group (Robert A. Bourne, R. Kyle Bourne, Sharon A. Yester, Constance A. Lowry) acquired Spring Village at Pocono in Aug 2015 with WoodBine Senior Living as operator; the BFG Pocono DST was filed July 17, 2017 (Form D, $7,725,000 offering).
69 units (housing up to ~93 residents)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?
The public record does not establish how this Trust was financed. Form D notices do not require debt disclosure, and no lender, loan document, or all-cash statement for the Trust appears anywhere in the file.
Who's behind it?
Bourne Financial Group is a seniors-housing investment sponsor; the Form D names Robert A. Bourne, R. Kyle Bourne, Sharon A. Yester, and Constance A. Lowry as related persons, with affiliates BFG Pocono Depositor, LLC and BFG Pocono Trust Manager, LLC filling the depositor and trust-manager roles.7 On May 21, 2025, the sponsor announced it had increased distributions to investors in one of its funds, citing a recovery in seniors housing.
- 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?
The notice of exempt offering was signed July 10, 2017 and reached EDGAR a week later.6 It was never amended, so no later filing reports a first sale, a closing, or a final subscription total. Interests were offered privately to accredited investors — those meeting SEC income or net-worth tests — with no general advertising permitted.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- BFG POCONO 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 Spring Village at Pocono?
Spring Village at Pocono 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 Spring Village at Pocono?
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. BFG Pocono DST is closed to new investors — its only SEC notice dates from 2017 and Bourne Financial Group has no active offerings on the Top1031 record. If you are mid-exchange, this page is a historical reference, not an available option.
What is a DST, and why do 1031 investors use one?
A Delaware statutory trust holds real estate and issues beneficial interests to passive co-owners. The IRS treats those interests as like-kind replacement property, so an exchanger can redeploy sale proceeds without managing a building. Investors have no control over operations, leasing, financing, or the timing of a sale.
Does the public record prove this Trust owns Spring Village at Pocono?
Not directly. The 2017 Form D names BFG Pocono DST but never names the property, its address, a tenant, or a loan. The 2015 acquisition report names Bourne Financial Group and WoodBine Senior Living, not the trust. Pennsylvania licensing files list other BFG-named entities as the legal entity. The ownership chain has to be confirmed in the trust's own documents.
Was the offering fully subscribed?
Unknown. The single Form D notice was filed before the first sale and was never amended, so no public filing reports how much was ultimately raised, how many investors came in, or when the offering closed. No sale, refinancing, or liquidation record for the trust is public either.
What is in the property's regulatory record?
Pennsylvania Department of Human Services inspection reports for license 23293 span 2018 through April 2026 and cite items including a fire-drill evacuation that ran past the state target in 2018, medication and oxygen-storage handling, obstructed stairwell egress, grab bars, resident contract signatures, and staffing qualifications. Each of those reports states the plan of correction was implemented.
What kind of risk profile does senior housing carry in a DST?
Personal care and memory care are operating businesses, not passive net-lease real estate: results move with occupancy, labor costs, private-pay rates, and state licensing outcomes. Rent to the trust typically depends on an affiliated master tenant's operating performance, which the private placement memorandum should describe in detail.
Chapter 9WoodBine, Bourne Financial Acquire Community in PennsylvaniaWoodBine Senior Living and Bourne Financial Group acquired Spring Village at Pocono, a 69-unit assisted living and memory care community in East Stroudsburg, PA.