Cove Capital Acquires Texas Multi-Tenant Business Park for DST Offering
Cove Capital Investments, LLC, a Los Angeles-based Delaware Statutory Trust (DST) sponsor and real estate investment firm, has completed the acquisition of its Business Park Opportunity 76 DST, a Regulation D, Rule 506(c), in Pearland TX.
The firm is targeting just over $8.5 million for the offering.
The 39,000 square foot multi-tenant industrial and mixed-use property was purchased by the firm as part of its portfolio of debt-free real estate assets for 1031 exchange and direct cash investors, according to Dwight Kay, managing member and founding partner of Cove Capital Investments.
The DST seeks to raise capital from accredited investors with a minimum investment requirement of $25,000. The DST offering is available for investors involved in 1031 exchanges, 1033 exchanges and direct cash participation.
“The newly renovated property is occupied by a synergistic mix of e-commerce resistant tenants, made up of three separate buildings, featuring a 28,310 square foot flex building, 7,287 square foot restaurant and 4,000 square foot storage warehouse,” said Kay.
Cove Capital Investments has sponsored more than 1.9 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors.
Last month, the firm completed the acquisition of an all-cash, debt-free multi-tenant retail center in Birmingham, AL for its Eastwood Village Opportunity 71 DST, targeting a raise of just over $22.7 million.
Pictured: Business park, Pearland TX.
