Cove Capital $12.7M DST Acquisition – AZ & NM Net Lease
- Los Angeles-based Cove Capital Investments, LLC, has finalized the acquisition of Cove Essential Net Lease Portfolio 90, a Delaware Statutory Trust (DST) program.
- The acquired portfolio, fully occupied and debt-free, features a FedEx ground facility in Safford, AZ, and a Tractor Supply property in Grants, NM.
- The transaction aligns with Cove's strategy to provide 1031 exchange and direct cash investors with all-cash, long-duration net lease opportunities anchored by essential service tenants.
Cove Capital solidifies its net lease investment strategy with a $12.7 million DST acquisition, featuring properties in Arizona and New Mexico. This strategic move highlights the company’s commitment to long-term, essential service tenants, including a FedEx ground facility and a Tractor supply property. Accredited investors benefit from this debt-free portfolio and are offered flexible exit options, adding significant value. The acquisition underscores Cove Capital’s dedication to providing strong investment opportunities in the real estate market. This news,reported by News Directory 3,reflects Cove Capital’s ongoing success,which includes a DST offering in Athens,GA,signaling continued growth and positive outcomes within the real estate investment sector. Discover what’s next for Cove Capital and investors seeking stable income and strategic real estate investments.
Cove Capital Invests $12.7M, Underscoring net Lease Investment Role
Los Angeles-based Cove Capital Investments, LLC, has finalized the acquisition of Cove Essential Net Lease Portfolio 90, a Delaware Statutory Trust (DST) program. The Regulation D, Rule 506(c) offering sought approximately $12.76 million in equity from accredited investors.
The acquired portfolio, fully occupied and debt-free, features a FedEx ground facility in Safford, AZ, and a Tractor Supply property in Grants, NM. This acquisition highlights the significant role of net lease investments in Cove Capital’s strategy.
The transaction aligns with Cove’s strategy to provide 1031 exchange and direct cash investors with all-cash, long-duration net lease opportunities anchored by essential service tenants. These properties play a vital role in Cove’s investment offerings.
Chay Lapin, managing member and co-founder of Cove Capital, emphasized the flexible exit options for investors through a potential future 721 UPREIT transaction. he said investors will have the option to participate in a future potential 721 UPREIT or not, at their discretion.
Cove Capital recently announced the full subscription of its $16.5 million General Time Industrial Park Opportunity 84 Delaware Statutory Trust (DST) offering in Athens, GA. Other recent offerings 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 manages a portfolio exceeding three million square feet of real estate across 35 states.
What’s next
Cove Capital is expected to continue its focus on acquiring and managing essential net lease properties, offering accredited investors opportunities for long-term, stable income through strategic real estate investments. The company will likely explore further 721 UPREIT transactions to provide investors with flexible exit strategies.