Cove Capital Fully Subscribes $21.6 Million DST Offering

Cove Capital Investments LLC, a private equity real estate firm and Delaware statutory trust sponsor company, announced its Cove Parkdale Commons Opportunity 62 DST, a regulation D Rule 506c Delaware Statutory Trust offering, is fully subscribed.

The total amount of equity raised for the offering, which made its first sale in January 2023, was $21.6 million.

The 191,559-square-foot building is anchored by one of Hobby Lobby’s retail stores and includes a strong roster of other national tenants.

“We would like to thank each of our clients who invested in this DST and all of the members of the Cove selling group including broker-dealers, registered representatives, and RIAs,” said Dwight Kay, managing member and co-founder of Cove Capital Investments.

Kay explained that the Cove Parkdale Commons Opportunity 62 DST is a value-add investment located in the primary retail node of West Waco, Texas.

“The center is surrounded by a large concentration of national retailers including Target, Tractor Supply, Lowe’s and Home Depot. In addition, Parkdale Commons showcases a balanced and compatible list of local retailers and is strategically located near Baylor University. We felt confident our investors would be attracted to the asset’s location, the quality of the tenants, and the overall business strategy set forth in the private placement memorandum,” said Kay.

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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