Cove Capital Investments Buys a Business Park in Pearland, TX as Part of Its Debt Free Pearland Business Park Opportunity 76 Delaware Statutory Trust

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Mar 14, 2024, 08:45 ET

LOS ANGELES, March 14, 2024 /PRNewswire/ -- Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company announced it has successfully completed an acquisition in Pearland, TX. The purchase is the firm's Business Park Opportunity 76 DST, a Regulation D, Rule 506(c) offering that is targeting to raise $8,573,663.

According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, the 39,000 square foot multi-tenant industrial and mixed-use property was purchased by Cove Capital to contribute to its growing portfolio of debt-free real estate assets for 1031 exchange and direct cash investors. Cove's Pearland Business Park Opportunity 76 DST seeks to raise capital from accredited investors with a minimum investment requirement of $25,000. The Delaware Statutory Trust offering is available for accredited investors involved in 1031 exchanges, 1033 exchanges and direct cash participation.

"The newly renovated property is occupied by a synergistic mix of e-commerce resistant tenants, made up of three separate buildings, featuring a 28,310 square foot flex building, 7,287 square foot restaurant and 4,000 square foot storage warehouse," said Kay.

"We are excited about the addition of another all-cash/debt-free DST offering to our portfolio. Like the majority of Cove Capital's real estate acquisitions, the Pearland Business Park Opportunity 76 DST was acquired with 0% leverage for those investors who want to potentially mitigate risk by investing in a debt-free DST offering with a potential hedge against inflationary increases to expenses due to 100% NNN leases as well as annual rental escalations," said Kay.

"Our Cove Acquisitions Team recognized the significance of adding this property to our Cove portfolio. Positioned strategically along Broadway Street with a daily traffic flow of over 26,000 vehicles, the city of Pearland was ranked as the second-fastest growing city in Texas and the third fastest growing economy in the US. Additionally, the city of Pearland is situated just 8 miles south of the Texas Medical Center, the world's largest medical complex with 50 million developed square feet and $3 billion in construction projects underway," said Cove Capital's Managing Member and Founding Partner, Chay Lapin.

About Cove Capital Investments

Cove Capital Investments is a DST sponsor company providing accredited investors access to 1031 exchange eligible Delaware Statutory Trust properties as well as other real estate investment offerings. The Cove Capital team consists of Acquisitions, Asset Management, Accounting, In-House Counsel, Investor Relations, Marketing and Capital Markets. Cove Capital maintains a robust current inventory of DST and private equity real estate offerings potentially available to investors. Cove Capital Investments has sponsored more than 1.9 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors.

For further information, please visit www.covecapitalinvestments.com or contact Cove Capital at (877) 899-1315 and via email at [email protected].

*Past performance is no guarantee of future results.

* Diversification does not guarantee profits or protect against losses.

*This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the "Memorandum"). Please read the entire Memorandum paying special attention to the risk section prior to investing. This material contains information that has been obtained from sources believed to be reliable. However, Cove Capital Investments, LLC does not guarantee the accuracy and validity of the information herein. Investors should perform their own investigations before considering any investment. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC.

SOURCE Cove Capital Investments