Cove Capital Acquires Alabama Retail Center for $22.7M 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 an all-cash, debt-free multi-tenant retail center in Birmingham, AL.

$25,000 minimum investment

Cove’s Eastwood Village Opportunity 71 DST, a Regulation D, Rule 506(c) offering, is targeting a raise of just over $22.7 million from accredited investors with a minimum investment of $25,000.

The retail asset is anchored by a Walmart Supercenter, Ross Dress for Less, Five Below and Party City, among others.

“This is an interesting asset class that we are focused on right now – the multi-tenant retail sector, Dwight Kay, managing member and founding partner of Cove Capital Investments, told Connect Money.

“Many investors are shying away from this asset class because of certain macroeconomic events such as the growth of ecommerce and COVID-19. However, it is Cove Capital’s investment thesis that these assets are undervalued with potential value-add opportunities built in.”

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.