Cove Capital Buys Virginia Distribution Center for DST Offering

Cove Capital Investments LLC, a private equity real estate firm and Delaware statutory trust sponsor, completed the purchase of a newly constructed industrial distribution center in Richlands, Virginia.

The property serves as a distribution warehouse for snack food company Frito-Lay Inc., an affiliate of PepsiCo, and features a long-term 10-year net lease. The purchase was made on behalf of Cove Net Lease Distribution 66 DST, a private placement offering that seeks to raise approximately $3.8 million.

The net lease industrial property was purchased debt-free by Cove Capital and seeks to raise equity from accredited investors with a minimum investment requirement of $25,000.

“The newly constructed distribution warehouse maintains the ability to further expand the facility with additional square footage in the future, making this property an ideal target for the DST offering,” said Dwight Kay, Cove’s managing member and founding partner.

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.

For more Cove Capital news, please visit their directory page.