Cove Capital Fully Subscribes $21.4M Texas Net Lease Offering
Cove Capital Investments, LLC, a Los Angeles-based Delaware Statutory Trust (DST) sponsor and real estate investment firm, announced that its Cove Texas Net Lease 67 DST, a regulation D Rule 506c DST offering, has been fully subscribed.
The total amount raised for the Cove Guidepost Montessori DST was just over $21.4 million.
The 1031 exchange DST offering was made available to accredited and direct cash investors as an all-cash/debt-free DST offering designed to potentially mitigate risk of lender foreclosure or lender cash flow sweeps, according to Dwight Kay, managing member and founding partner of Cove Capital Investments.
Both properties are located within the Dallas-Fort Worth Metroplex.
“Our tenant has numerous locations nationally and globally. Both properties are strategically located in high-income trade areas with average household incomes of more than $133,000 within a 1-mile radius of each subject property,” said Kay.
Chay Lapin, managing member and founding partner of Cove Capital Investments explained that both assets have new, long-term 20-year net leases that are corporately guaranteed.
The firm has sponsored over 1.9 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors.
Pictured: Cove Guidepost Montessori DST