Cove Capital Completes $12.7M Arizona, New Mexico Net Lease DST Acquisition
Cove Capital Investments, LLC has successfully completed the acquisition for its latest Delaware Statutory Trust (DST) program, Cove Essential Net Lease Portfolio 90, a Regulation D, Rule 506(c) offering seeking to raise approximately $12.76 million in equity from accredited investors. The fully occupied, debt-free portfolio consists of a FedEx Ground facility in Safford, AZ, and a Tractor Supply property in Grants, NM.
The transaction reflects Cove’s ongoing focus on providing 1031 exchange and direct cash investors with all-cash, long-duration net lease opportunities anchored by essential service tenants.
Chay Lapin, managing member and co-founder of Cove Capital, highlighted the flexible exit optionality available to investors through a future potential 721 UPREIT transaction. “Instead of signing up today in a forced 721 UPREIT DST, our investors are going to be given the option to participate in a future potential 721 UPREIT or not – at their discretion.”
Most recently, the firm announced the full subscription of its $16.5 million General Time Industrial Park Opportunity 84 Delaware Statutory Trust (DST) offering, located in Athens, GA. Other recent offerings include the $9.1 million NorthPark Shopping Center Opportunity 78 DST, the $18.7 million Cove San Antonio Multifamily 74 DST, and the $5.8 million Essential Net Lease Industrial 87 DST in the Southwest distribution corridor.
Los Angeles-based Cove Capital Investments operates a portfolio of more than three million square feet of real estate in 35 states nationwide.
