Cove Capital Fully Subscribes $9.1M Arkansas Shopping Center DST 

Cove Capital Investments, LLC has fully subscribed its NorthPark Shopping Center Opportunity 78 Delaware Statutory Trust (DST), raising more than $9.1 million in equity. The 71,068-square-foot multi-tenant retail property is located in Monticello, Arkansas. 

The acquisition is part of Cove Capital’s broader strategy of targeting debt-free real estate assets for 1031 exchange and direct cash investors. “We continue to see strong demand for the multi-tenant retail asset class from 1031 exchange investors who are seeking tax-advantaged investments with the added benefit of zero debt,” said Dwight Kay, managing member and founding partner of Cove Capital. 

Kay noted that NorthPark Shopping Center appealed to investors due to its below-replacement-cost acquisition, strong tenant retention, and long-term location stability. “We felt confident our value-add business plan set forth in the Private Placement Memorandum would appeal to investors, broker dealers, and RIAs,” he said. “In addition, our debt-free strategy offers meaningful distribution potential, with monthly payments via ACH direct deposit.” 

The announcement follows a string of fully subscribed offerings from Cove Capital, including last week’s Cove San Antonio Multifamily 74 DST, which raised $18.7 million, and the recent acquisition of a distribution center along the Tucson-Phoenix-El Paso corridor for its $5.8 million Essential Net Lease Industrial 87 DST. 

Headquartered in Los Angeles, Cove Capital’s portfolio spans more than 2.5 million square feet across 33 states.