Cove Capital Acquires San Antonio Small Bay Industrial Asset for DST 

Cove Capital Investments has completed the purchase of a multi-tenant flex/industrial asset in San Antonio, TX that will be included in the firm’s Texas Small Bay 85 Flex Delaware Statutory Trust (DST), a Regulation D, Rule 506(c) offering that is targeting a raise of over $15.3 million. 

According to Dwight Kay, managing member and founding partner of Cove Capital Investments, the 68,400 square foot property was purchased as part of its portfolio of debt-free DST real estate assets for 1031 exchange and direct cash investors. Currently, the firm includes 107 DST properties in its portfolio. 

“Average rents at the Property are considerably below market rents providing us the potential opportunity to raise rents to market as leases roll,” added Chay Lapin, managing member and founding partner of Cove Capital Investments. 

The firm has acquired several properties in recent months for various DST offerings. In October, it acquired a new net lease industrial asset in Athens, GA that will be part of the firm’s General Time Industrial Park Opportunity 84 DST, a Regulation D, Rule 506(c) offering that aims to raise $16.5 million. 

Cove Capital also purchased The Peanut Factory Lofts, a multifamily asset in downtown San Antonio, TX for its Cove Capital San Antonio Multifamily 74 DST; three net lease industrial distribution centers on behalf of its Cove Net Lease Industrial 77 DST; three net lease properties for its Cove Essential Net Lease 81 DST; and a net lease property for Cove Tractor Net Lease 79 DST.     

Los Angeles-based Cove Capital operates a portfolio of over 2.6 million square feet of real estate in 33 states nationwide.