Cove Capital Fully Subscribes $18.7M San Antonio Multifamily DST Offering
Cove Capital Investments, LLC announced the full subscription of its Cove San Antonio Multifamily 74 DST, a Regulation D, Rule 506(c) offering that raised $18,679,418 in equity from accredited investors. The offering, designed for 1031 exchange and direct cash investors, centers on The Peanut Factory Lofts, a 102-unit, Class-A multifamily property in downtown San Antonio, TX, acquired debt-free in October 2024.
The 96,184-square-foot property, originally a peanut processing plant converted in 2014, features unique architectural elements like repurposed silos and a premium three-bedroom penthouse. Its location near San Antonio’s Southtown, Historic King William District, and Blue Star Arts Complex enhances its urban appeal, according to the firm.
Dwight Kay, managing member and founding partner, stated, “The successful sellout of the DST reflects strong investor confidence in Cove Capital’s abilities and our commitment to acquiring high quality assets in key markets across the country.”
Chay Lapin, managing member and founding partner, added, “On top of these elements, investors also appreciated our all-cash position, which ensured closing certainty—critical for securing this unique asset.”
Los Angeles-based Cove Capital operates a portfolio of over 2.5 million square feet of real estate in 33 states nationwide.