Cove Capital Investments LLC, a private equity real estate firm and Delaware statutory trust sponsor company, announced it has completed the purchase of two long-term net lease buildings located in the Dallas-Fort Worth metro region.
The purchase is part of the firm’s Texas Net Lease 67 DST, a Regulation D, Rule 506(c) offering that seeks to raise up to $21.4 million from accredited investors.
“We are excited about this unique Delaware Statutory Trust portfolio for several reasons,” said Dwight Kay, managing member and founding partner of Cove Capital Investments. “First, the DST portfolio includes two properties located in Mansfield and Hurst, Texas, two communities within the Dallas-Fort Worth Metroplex region with what we believe to be favorable household income levels and population characteristics. Secondly, both assets have new, long-term 20-year net leases that are corporately backed.”
The company says the Cove Texas Net Lease 67 DST was acquired debt free.
“Cove Capital is pleased to provide our investors with another debt free DST investment offering in an income tax free state,” said Chay Lapin, managing member and founding partner of Cove Capital Investments.
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.