LRT Company Secures Full Subscription for $17 Million Senior Living Development in Hardeeville

LRT Company has announced the full subscription of its $17 million Delaware statutory trust (DST) offering, the LRT Hardeeville Senior Living DST, aimed at funding the development of a 154-unit assisted living and memory care community in Hardeeville, South Carolina. This development addresses the critical demand for senior housing in a region experiencing rapid population growth, with Hardeeville's population increasing by over 72% since the 2020 Census.

The project, situated at 20 Island Gate Way, is a key component of the larger Island Gateway development by LRT Development, which envisions a comprehensive community including 600 multifamily residences, a senior living campus, and retail spaces. Lawrence LaBonte, founder and CEO of LRT Company, highlighted the equity raise as a testament to the confidence of advisors and investors in their strategy to develop in burgeoning markets.

Hardeeville's strategic location near Hilton Head Island, a sought-after Southeast destination, enhances the appeal of the new senior living community. The area's demographic trends, including an influx of retirees and approximately 2.5 million annual visitors, as reported by HiltonHead.com, underscore the potential for success in this venture.

Beyond the Hardeeville project, LRT Company is expanding its footprint with the launch of the LRT Coventry RI DST, seeking to raise $20.55 million for a senior housing campus in Coventry, Rhode Island. This initiative further solidifies LRT's dedication to meeting the senior living demand across the Southeast and Mid-Atlantic regions.

The successful subscription of the LRT Hardeeville Senior Living DST offering not only represents a significant achievement for LRT Company but also reflects a strong investor interest in real estate projects that address the needs of the aging population in areas of high growth and demand.