Cove Capital Fully Subscribes $3.8M Virginia Industrial Net Lease Offering 

Cove Capital Investments, LLC, a Los Angeles-based Delaware Statutory Trust (DST) sponsor and real estate investment firm, announced its Cove Net Lease Distribution 66 DST, a regulation D Rule 506(c) Delaware Statutory Trust offering, is fully subscribed.  

The total amount raised was just over $3.8 million. 

The industrial distribution warehouse is in Richlands, VA, a centralized location for transportation to Charlotte, NC, Knoxville, TN, Lexington, KY and Charleston, WV, according to the firm. 

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. 

“This offering consists of a tenant who is potentially both recession and pandemic resistant and potentially achieves the major objectives in the Delaware Statutory Trust strategy,” added Chay Lapin, managing member and co-founder of Cove Capital Investments. 

Cove Capital Investments 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: Distribution warehouse in Richlands, VA