Cove Capital Fully Subscribes $16.5M Georgia Industrial Park DST 

Cove Capital Investments, LLC has fully subscribed its $16.5 million General Time Industrial Park Opportunity 84 Delaware Statutory Trust (DST) offering, located in Athens, GA. The property is fully leased to a subsidiary of a national beer and beverage company and a national e-commerce operator, both on long-term leases. Situated within the 35-acre General Time mixed-use development, the infill industrial location was acquired below replacement cost, according to Cove executives. 

The debt-free DST offering aligns with Cove’s broader investment strategy targeting all-cash real estate assets tailored for 1031 exchange and direct cash investors. 

Chay Lapin, co-founder and managing member, highlighted the investment’s optional 721 Exchange roll-up feature. “This is a very important component for any DST investment as other sponsor companies have what is called a ‘forced 721 UPREIT’. This full optionality benefit allows investors to participate in the 721 UPREIT if they choose to do so and at their discretion. This full optionality is a key differentiator in today’s marketplace of DST and 721 UPREIT vehicles,” Lapin explained. 

The General Time Industrial DST is the latest in a series of fully subscribed offerings by the Los Angeles-based firm. Recent successes 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. 

Cove Capital Investments currently manages a diversified DST portfolio spanning more than 2.5 million square feet across 33 states.