Cove Capital Investments Buys Newly Constructed Distribution Center in Richlands, VA as Part of Its Debt-Free Net Lease Distribution 66 Delaware Statutory Trust

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Nov 27, 2023, 08:24 ET

The new Delaware Statutory Trust offering is another Cove Capital debt free Industrial Distribution Center in Richlands, VA.

LOS ANGELES, Nov. 27, 2023 /PRNewswire/ -- Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company announced it has completed the purchase of a newly constructed Industrial Distribution Center in Richlands, VA. The purchase is the firm's Net Lease Distribution 66 DST, a Regulation D, Rule 506(c) offering that is targeting to raise $3,819,645.

According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, the net lease industrial property was purchased by Cove Capital with 0% leverage, for those investors who want to potentially mitigate risk by investing in a debt-free offering with no risk of lender foreclosure or lender cash flow sweeps. Cove's Net Lease Distribution 66 DST seeks to raise approximately $3.8 million in 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 Kay.

"Our Cove Acquisitions Team identified this property as an excellent addition to our Cove portfolio. The facility is strategically located adjacent to Highway 460, which runs through Richlands' central location allowing transportation to Charlotte, NC, Knoxville, TN, Lexington, KY and Charleston, WV, all within a separate 4-hour commute. In addition to the long-term lease and favorable location, this building is brand new with high quality construction," 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 and co-sponsored the syndication of 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