LRT Company Fully Subscribes $20.55 Million All-Cash, Ground-Lease Based DST Offering Near Providence, Rhode Island

PROVIDENCE, R.I., April 20, 2026 /PRNewswire/ -- LRT Company, a land acquisition and real estate investment firm that specializes in land entitlements and ground lease financing, and sponsors Section 1031 exchange investment offerings, announced today it has fully subscribed its $20.55 million Delaware statutory trust (DST) offering, LRT Coventry RI DST.

The all-cash, Regulation D private placement offering consists of a 50-year, triple net ground lease on 14 acres of undeveloped land in Coventry, a suburb of Providence, Rhode Island. As part of the ground lease agreement, Tiffany Laurel Reserve, a senior housing campus with 204 independent living, assisted living and memory care units, will be designed, developed and constructed on the land. The senior housing campus is expected to total 157,000 square feet of space and include 56 structured parking garage spaces.

"We designed this project around a Coventry senior housing market that has been underserved for years," said Lawrence LaBonte, founder and chief executive officer of LRT Company. "The setting gives residents a quieter, nature-rich environment with parks, lakes and wooded areas, while remaining easily accessible via the New London Turnpike. This is also the first development where LRT Company has incorporated low-income housing units, because lower-income seniors will be hit the hardest by the coming shortage and it was important for us to be a factor in addressing that."

He added, "The ground lease structure of this investment offering gives investors exposure to potential rent escalations and future capital transaction proceeds, which is very much in line with how LRT thinks about placing capital in markets where supply is constrained and long-term demand is clear. Seeing this offering fully subscribed tells us investors recognize that same opportunity."

Coventry has a population of nearly 36,000 and is the largest town in Rhode Island by land size at approximately 60 square miles. The area is in close proximity to major highways, including Interstate 95 and state routes 3, 117, and 102. Additionally, freight transportation is supported by railroads and nearby shipping facilities at the Port of Providence, further integrating Coventry into regional trade networks.

About LRT Company
LRT Company is an opportunistic real estate company with extensive experience in acquiring land entitlements in high barrier markets for the purpose of ground-up development of multifamily and senior living communities with a focus on the Southeast and Mid-Atlantic. The company invests their own capital on acquisitions, design, engineering and entitlements, in a process that can take anywhere from one to six years to complete. 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 principle.

Contact:
Julie Leber
Spotlight Marketing Communications
949.427.1391
[email protected] 

SOURCE LRT Company