Cove Capital Fully Subscribes $11.1M Net Lease DST Offering

Cove Capital Investments, LLC, a Los Angeles-based Delaware Statutory Trust (DST) sponsor and private equity real estate firm, announced its Cove Essential Net Lease 58 DST, a regulation D Rule 506c offering, is fully subscribed.

The total amount of equity raised for the offering was nearly $11.1 million.

The 1031 exchange DST offering was made available to accredited 1031 exchange and direct cash investors as an all-cash and debt-free offering designed to mitigate risk of lender foreclosure or lender cash flow sweeps, according to Dwight Kay, managing member and founding partner of Cove Capital Investments.

“We wanted to form a highly diversified portfolio of asset classes, tenant companies and geographic regions when forming the Cove Essential Net Lease 58 DST. The portfolio includes strong tenants that are potentially both recession and pandemic resistant and that potentially achieve the major objectives in the Delaware Statutory Trust strategy,” said Chay Lapin, managing member and 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.