Senior Housing DST 11
A 162-unit, 197-bed assisted living and memory care portfolio consisting of three communities across TX, FL, OK.
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Offering Overview
Senior Housing DST 11 is a 162-unit, 197-bed assisted living and memory care portfolio consisting of three well-located communities in McKinney, TX; Longwood, FL; and Oklahoma City, OK. The portfolio features a balanced mix of stabilized, Class-A assets and a value-add opportunity, with a combined occupancy of 90%.1 This investment opportunity is designed to provide investors with monthly cash distributions along with potential long-term appreciation through operational improvements and market growth.2
1. Based on ending occupancy as of June 30, 2025.
2. There can be no assurance that any of these objectives will be met. The ability of Senior Housing DST 11 to make distributions to its investors will depend solely on cash flows generated by the Facilities, which are not certain. Any reductions in the actual or projected cash flows from the Facilities would negatively impact the returns received by an investor in Senior Housing DST 11 and/or the price for which Senior Housing DST 11 will be able to sell the Facilities. An investment in the Senior Housing DST 11 is speculative and involves a high degree of risk. Investors should be able to bear the complete loss of an investment.
All-Cash
Loan-to-value6.25%
Current Cash Flow3Paid to the Trust under the Master Lease Agreement in Year 1
7-10 Years
Estimated Hold Period4$25K
Minimum Investment$43M
Equity Offering Amount10 Year
Lease Term162
Total Units'93-'15
Years of Construction3. Current cash flow is calculated based on current occupancy and operating history of the Facilities at or immediately preceding the date of the Memorandum. Changes in occupancy, rents, management costs or other expenses will change the future cash flow of the DST. There can be no assurance that cash flows generated by the Facilities will be sufficient to provide investors in Senior Housing DST 11 with anticipated distributions. Additionally, cash flow is distributed to the Trust under the Master Lease Agreement.
4. Estimated hold periods are based on current cash flow and historical cap rates and the Trustee makes no guarantee that this estimate can be achieved. The anticipated holding period of the Properties is subject to the sole discretion of the Signatory Trustee based on market conditions at the time; provided, however, that the Trust is required to hold the Properties for a minimum of one (1) year after the date of the admittance of the last Investor to the Trust. The Investors will not be entitled to approve a sale of the Properties.
Portfolio
Iris Memory Care of NWOKC
A fast-growing capital with a diverse economy led by healthcare, technology, and aerospace. Offers affordability, revitalized neighborhoods, and a business-friendly climate that continues to attract residents and investment.
Cariad at North Brook
A high-growth suburb in the Dallas-Fort Worth metro, McKinney combines small-town charm with urban access. Known for its top-rated schools, historic downtown, and steady population and job growth.
Wayman Place
A residential, well-connected suburb north of Orlando, Longwood offers family-friendly neighborhoods, access to major highways and SunRail, and proximity to Central Florida’s healthcare, education, and tourism hubs.
About the Operators
At 1031 CF Properties, we know that maximizing investment value depends on exceptional property management and strong partnerships with proven senior housing operators. The properties within Senior Housing DST 11 are operated by:
Management Experience
15 Yrs
Managed Properties
6
Units Operated
259
Founded in 2018, Iris Senior Living specializes in residential Memory Care for Alzheimer’s and dementia. Founders David Krukiel and Brandon Meszaros have developed 20+ communities across Texas and the Southwest, including one of the largest stand-alone Memory Care portfolios in North Texas.
Management Experience
25 Yrs
Managed Properties
50
Units Operated
4,887
SRI Management is a full-service management company dedicated to optimizing the living experience for seniors in independent living, assisted living, and memory care communities. Since its founding in 2000, SRI has focused on making a positive impact for seniors and their families by delivering individualized care and fostering a culture of personal choice. Their expertise spans across all facets of senior housing management, with a commitment to creating supportive communities that empower residents to live life to the fullest.
About the Sponsor
1031 CF Properties is a leading sponsor in senior housing Delaware Statutory Trusts (DSTs) and continues to operate 16 real estate programs encompassing 19 properties. We specialize in the acquisition and management of assisted living and memory care facilities throughout the U.S. and our expertise allows us to tailor our investments to drive value to investors and partners. With our team’s extensive expertise in senior housing, our company is well-equipped to expand its offerings and address market demands for diversified investment opportunities within the asset class.
Growing Healthcare Demand
Senior housing has gained traction with institutional investors due to the aging Baby Boomer population, the second largest generation in the US. As they age, many will move to assisted living and memory care facilities for higher levels of care.
10,000 Americans
will turn 80 every day starting in 20255
More than 800,000
additional units of senior housing needed in the U.S. by 20306
6 in 10 Adults
have a chronic disease today7
2x Alzheimer’s
diagnoses by 2050 from 5.8M today to 13.8M8
+50% Demand
increase for Americans ages 65+ that require nursing home care by 20309
5. The Silver Tsunami Finally Arrives. https://seniorshousingbusiness.com/the-silver-tsunami-finally-arrives/
6. NIC, Looking into the Future: How Much Seniors Housing Will Be Needed? https://info.nic.org/hubfs/Insider/White%20Paper_NIC_Looking_into_the_Future_How_Much_Seniors_Housing_Will_Be_Needed.pdf
7. CDC’s Chronic Diseases in America. https://www.cdc.gov/chronic-disease/about/index.html#cdc_disease_basics_overview-chronic-diseases-in-america
8. Alzheimer’s Association, 2019 Alzheimer’s Disease Facts and Figures (2019).
9. PRB analysis of data from the U.S. Census Bureau, American Community Survey and Population Projections. https://www.prb.org/resources/fact-sheet-aging-in-the-united-states/
Frequently Asked Questions
An investment in Senior Housing DST 11 is speculative, involves a significant risk, and is suitable only for persons of substantial financial means who have no need for liquidity in this investment. Interests will be sold only to prospective Purchasers who represent in writing that they are “Accredited Investors” and satisfy the investor suitability requirements established by the Signatory Trustee and as may be required by federal or state law.
The foregoing is merely an overview of the risks inherent in an investment in Senior Housing DST 11. The risks associated with an investment in Senior Housing DST 11 are more fully described in the “Risk Factors” section of the PPM. Prospective investors are advised to review the PPM in its entirety and consult with their own legal, tax, financial and business advisors prior to investing.
Yes. Acquisition of the Interests is designed for, but not limited to, Purchasers seeking to participate in a Section 1031 Exchange. The Parent Trust has not requested, and does not plan to request, a private letter ruling from the Internal Revenue Service (the “IRS”) that the Interests will be treated as a direct acquisition of the Properties by the Purchasers for purposes of Code Section 1031.
The minimum purchase per Investor is a 0.05814% Interest for a purchase price of $25,000, unless the Signatory Trustee, in its sole discretion, allows a smaller investment. See “SUMMARY OF PURCHASE AGREEMENT AND INSTRUCTIONS.”
The anticipated holding period of the Properties is subject to the sole discretion of the Signatory Trustee based on market conditions at the time; provided, however, that the Parent Trust is required to hold the Properties, through the Operating Trusts, for a minimum of one (1) year after the date of the admittance of the last Investor to the Parent Trust. The Investors will not be entitled to approve a sale, exchange, or other disposition of the Properties, including an exchange pursuant to Code Section 721. If it receives a Disposition Fee, the Signatory Trustee shall be responsible for paying any sales commission to a broker in connection with a sale out of the Disposition Fee. See “SUMMARY OF THE PARENT TRUST AGREEMENT” and “RISK FACTORS – Risks Relating to the Parent Trust Structure and Operating Risks – Investors Have Limited Control over the Management of the Parent Trust and Operating Trusts.”
An investment in the Interests is highly speculative and involves substantial risks including, but not limited to:
- This is a “best efforts” offering with no minimum raise requirement;
- Risks associated with investments in real estate;
- Risks associated with owning and operating senior living and memory care facilities in the markets in which the facilities operate;
- Risks related to the compliance with laws and regulations related to the ownership and operation of senior living and memory care facilities;
- The impact of an epidemic where the Properties are located, or a pandemic, either of which may adversely affect the local or global economy and the operations of the Facilities;
- Lack of liquidity of the Interests or the OP Units;
- The Interests are subject to the FMV Option;
- The holding of a beneficial interest in the Parent Trust with no voting rights as to the management of the Trusts or a sale or other disposition of the Properties including with respect to a 721 Exchange (as defined below);
- There are risks related to competition from properties, similar to and near the Properties, including properties that are, or may in the future be, owned and operated by Affiliates of the Parent Trust or the Sponsor;
- Performance of the Master Tenants under the Master Leases;
- The acquisition of the Longwood Property at a valuation in excess of its appraised value;
- Expiration of the Rental Agreements between the Master Tenants and the Residents of the Properties or the nonperformance of the Residents under such Rental Agreements;
- Environmental risks;
- Lack of diversity of investment;
- Reliance on the Master Tenants (and the Property Managers engaged by the Master Tenants) to manage the Properties;
- The Interests being subject to the restrictions in the Parent Trust Agreement;
- The existence of various conflicts of interest among the Sponsor, the Trusts, the Master Tenants, the Operating Partnership and their Affiliates; and
- Significant material tax risks, including treatment of the Interests for Section 1031 exchange purposes, and the use of exchange funds for reserves, which may result in taxable boot.
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