LRT Company, an opportunistic development firm and sponsor of Section 1031 exchange investment offerings, announced today that it has launched LRT Hardeeville Senior Living DST. The all-cash, Regulation D private placement Delaware statutory trust offering seeks to raise $17 million in equity from accredited investors.
LRT Hardeeville Senior Living DST consists of 8.17 undeveloped land acres that are ground leased for 50 years on a triple net basis. As part of the ground lease agreement, a multi-level assisted living and memory care senior housing community with 154 units will be designed, developed and constructed by LRT Development on the property located at 20 Island Gate Way in Hardeeville, South Carolina.
“The LRT Hardeeville Senior Living DST is an exciting opportunity to meet the growing needs of seniors in the vibrant Hilton Head Island region,” said Lawrence LaBonte, founder and chief executive officer of LRT Company. “Hardeeville’s population has increased by more than 72% since the 2020 U.S. Census, with relocating retirees making up the majority of new residents. This demand for quality senior housing, combined with the area’s robust economic drivers and strategic location, makes Hardeeville an ideal setting for our offering.”
The 8.17-acre project is part of Island Gateway, an 82.6-acre greater master-planned community under construction by LRT Development. Upon completion, Island Gateway is expected to include 600 multifamily residences, a care-continuum senior living campus, and 100,000 square feet of retail and self-storage space. Through its development arm, LRT currently has approximately $150 million of projects in the southeastern and northeastern United States.
Hilton Head Island is located in Beaufort County, South Carolina, approximately 20 miles northeast of Savannah, Georgia, 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, SC Metropolitan Statistical Area, with a population of approximately 232,000.
LRT Company is a ground-up development company specializing in the entitlement and development of multifamily and senior housing projects. The company was founded in 2019 by LaBonte, who has more than 35 years of commercial real estate experience. He has been involved in more than $600 million of real estate development and other transactions. Prior to forming LRT Company, LaBonte spent time with The Flatley Company, Manhattan Development Group, American Invsco and more.
About LRT Company
LRT Company is an opportunistic development company with extensive experience in the ground-up development of multifamily and senior living communities with a focus on the Southeast and Mid-Atlantic. The company is also a sponsor of Delaware statutory trust investment opportunities. The firm’s leading principals, Lawrence LaBonte and Charles Anderson, have more than 35 years each of experience in nearly every type of real estate asset, including acquiring, entitling and managing core value-add and ground-up properties as well as asset repositioning. The leadership team has built industry-wide relationships that play a key role in their business strategy for success. To learn more, visit www.lrtcompany.com.
This is not an offer to buy, nor a solicitation to sell securities. Information herein is provided for information purposes only and should not be relied upon to make an investment decision or constitute a recommendation. Offers can be made only by the confidential Private Placement Memorandum (the “PPM”) which is available upon request. This communication does not and cannot replace the PPM and is qualified in its entirety by the PPM. This communication may not be relied upon in making an investment decision related to any investment offering by the issuer, or any affiliate, or partner thereof (“Issuer”). All potential investors must read the PPM and no person may invest without acknowledging receipt and complete review of the PPM. All investing involves the risk of loss of some, or all principal invested. Past performance is not indicative of future results. With respect to any “targeted” goals and performance levels outlined herein, these do not constitute a promise of performance, nor is there any assurance that the investment objectives of any program will be attained. Securities and wholesaling services are offered through Metric Financial, LLC, Member FINRA/SIPC. Metric Financial, LLC is not affiliated with any other entities identified in this communication. Only available in states where Metric Financial is registered. LRT Development Company, LLC (LRT) and Metric Financial are separate entities. There can be no assurance the fund will achieve targeted return or return principal.
