Cove Capital Fully Subscribes Debt-Free DST Offering

Cove Capital Investments LLC, a private equity real estate firm and Delaware statutory trust sponsor, announced its Cove Essential Net Lease 58 DST, a regulation D Rule 506(c) Delaware statutory trust offering, is fully subscribed.

The total amount of equity raised for the offering was $11.1 million. According to Cove, the 1031 exchange offering was made available to accredited investors as an all-cash, debt-free opportunity designed to mitigate lender risk and cashflow sweeps

“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 founding partner of Cove Capital Investments.

The portfolio includes three properties covering multiple asset classes and “showcases a strong essential tenant lineup, all with long-term net leases.” Tenants include Frito-Lay, BMO Harris Bank and Walgreens.

“We wanted to form a highly diversified portfolio of asset classes, tenant companies and geographic regions when forming the Cove Essential Net Lease 58 DST,” said Chay Lapin, managing member and founder of Cove Capital Investments. “The portfolio includes strong tenants that are potentially both recession and pandemic resistant and that potentially achieve the major objectives in the Delaware statutory trust strategy.”

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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