Cove Capital Adds Missouri Starbucks to DST Fund Portfolio

Cove Capital Investments LLC, a private equity real estate firm and DST sponsor company, announced the acquisition of a newly constructed Starbucks in Marysville, Missouri.

The 2,225-square-foot building is a free-standing structure located on an outparcel pad to a Walmart Supercenter.

The net lease asset was acquired as part of Cove’s Net Lease Income Fund 18, a Reg. D 506(c) Delaware statutory trust offering. Cove says the fund seeks to raise $50 million from accredited investors with a minimum investment of $50,000.

“We were excited to include this newest acquisition as part of our Net Lease Income Fund 18 for a number of reasons,” Chay Lapin, managing member and co-founder of Cove Capital Investments, said. “First, the property is secured by a new long-term net lease that is corporately guaranteed by Starbucks Inc., a publicly traded firm that generated $29.1 billion in revenue in 2021. In addition, the building was constructed in 2022 as a build-to-suit that includes a drive-thru design and located in direct proximity to one of the area’s most active Walmart Supercenters.”

Cove Capital Investments is a private equity real estate firm providing accredited investors access to 1031 exchange-eligible Delaware statutory trust properties, as well as other real estate investment offerings. The team consists of acquisitions, asset management, accounting, due diligence, in-house counsel, investor relations, marketing and capital markets. Cove has sponsored over 1.9 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors.

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