Cove Capital Acquires Virginia Net Lease Warehouse for $3.8M DST Offering

Cove Capital Investments, LLC, a Los Angeles-based Delaware Statutory Trust (DST) sponsor and private equity real estate firm, has purchased a newly constructed distribution warehouse in Richlands, VA for its Net Lease Distribution 66 DST, a Regulation D, private placement offering that is targeting a raise of just over $3.8 million.

The Net Lease Distribution 66 DST seeks to raise equity from accredited investors with a minimum investment of $25,000.

The industrial distribution center was purchased with 0% leverage for investors who want to “potentially mitigate risk” by investing in a debt-free offering with no risk of lender foreclosure or lender cash flow sweeps. according to Dwight Kay, managing member and founding partner of Cove Capital Investments

“The newly constructed distribution warehouse maintains the ability to further expand the facility with additional square footage in the future, making this property an ideal target for the DST offering,” said Kay.

“The facility is strategically located adjacent to Highway 460, which runs through Richlands’ central location allowing transportation to Charlotte, NC, Knoxville, TN, Lexington, KY and Charleston, WV,” added Cove Capital’s managing member and founding partner, Chay Lapin.

The firm has sponsored and co-sponsored the syndication of more than 1.9 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors.