![Cove Capital Fully Subscribes $22.8M Alabama Retail DST Offering Acquisition completed in February Cove Capital Investments has fully subscribed its Eastwood Village Opportunity 71 DST, a Regulation D, Rule 506(c) offering, raising $22.8 million. The Birmingham, AL property was acquired well below replacement cost, according to Cove Capital, and anchored by a Walmart Supercenter, Ross Dress for Less, Five Below and Party City, among establishments. The property is in the “#1 retail center in the market with 3.4 million annual visits,” Cove Capital said. Positioned just off the intersection of I-20 & Crestwood Boulevard, the property sees approximately a combined 78,000 vehicles per day. Like many of the firm’s real estate acquisitions, the Eastwood Village Opportunity 71 DST was acquired with 0% leverage. “The Cove Eastwood Village Opportunity 71 DST [acquisition completed in February] is 97% occupied with recent tenant lease extensions and renewals showing strong commitment to the location,” said Dwight Kay, managing member and founding partner of Cove Capital Investments. “The property has a value-add strategy in an effort to potentially increase net operating income and property value/investor equity.” The latest offering follows a series of acquisitions in recent months, including the purchase of The Peanut Factory Lofts, a multifamily asset in downtown San Antonio, TX for its Cove Capital San Antonio Multifamily 74 DST; three net lease industrial distribution centers on behalf of its Cove Net Lease Industrial 77 DST; three net lease properties for its Cove Essential Net Lease 81 DST; its Rogers Business Park Opportunity 73 DST’; and a net lease property for Cove Tractor Net Lease 79 DST. Pasadena-based Cove Capital Investments operates a portfolio of over 2.4 million square feet of real estate in 33 states across the country.](https://www.connectmoney.com/wp-content/uploads/sites/4/2024/10/Cove-Capital-Investments-Eastwood-Village-71-DST.jpg)
Cove Capital Fully Subscribes $22.8M Alabama Retail DST Offering
Cove Capital Investments has fully subscribed its Eastwood Village Opportunity 71 DST, a Regulation D, Rule 506(c) offering, raising $22.8 million.
The Birmingham, AL property was acquired well below replacement cost, according to Cove Capital, and anchored by a Walmart Supercenter, Ross Dress for Less, Five Below and Party City, among establishments.
The property is in the “#1 retail center in the market with 3.4 million annual visits,” Cove Capital said. Positioned just off the intersection of I-20 & Crestwood Boulevard, the property sees approximately a combined 78,000 vehicles per day. Like many of the firm’s real estate acquisitions, the Eastwood Village Opportunity 71 DST was acquired with 0% leverage.
“The Cove Eastwood Village Opportunity 71 DST [acquisition completed in February] is 97% occupied with recent tenant lease extensions and renewals showing strong commitment to the location,” said Dwight Kay, managing member and founding partner of Cove Capital Investments. “The property has a value-add strategy in an effort to potentially increase net operating income and property value/investor equity.”
The latest offering follows a series of acquisitions in recent months, including the purchase of The Peanut Factory Lofts, a multifamily asset in downtown San Antonio, TX for its Cove Capital San Antonio Multifamily 74 DST; three net lease industrial distribution centers on behalf of its Cove Net Lease Industrial 77 DST; three net lease properties for its Cove Essential Net Lease 81 DST; its Rogers Business Park Opportunity 73 DST; and a net lease property for Cove Tractor Net Lease 79 DST.
Pasadena-based Cove Capital Investments operates a portfolio of over 2.4 million square feet of real estate in 33 states across the country.