Cove Capital Investments Fully Subscribes Its Debt-Free Cove Texas Net Lease 63 Delaware Statutory Trust Offering in Lewisville, TX

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Feb 07, 2024, 08:15 ET

Cove Capital announces another fully subscribed DST offering on behalf of accredited investors, broker-dealers, RIA's, and registered representatives.

LOS ANGELES, Feb. 7, 2024 /PRNewswire/ -- Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company that specializes in providing accredited investors access to debt-free investment options for their 1031 exchange and direct cash investments, announced its Cove Texas Net Lease 63 DST, a regulation D Rule 506c Delaware Statutory Trust offering, is fully subscribed. The total amount of equity raised for the offering was $10,444,211.00.

According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, the 1031 exchange DST offering was made available to accredited 1031 exchange and direct cash investors as an all-cash/debt-free DST offering designed to potentially mitigate risk of lender foreclosure or lender cash flow sweeps. The 16,297 square-foot property is located in Lewisville, a dynamic suburban community in the thriving Dallas-Fort Worth Metroplex.

"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 Kay.

Kay explained that the Cove Texas Net Lease 63 DST is a Corporate Net Lease investment with a brand new 20-year lease with annual rent increases and has a full corporate guaranty on the lease.

"Our tenant has numerous locations nationally and globally with plans to continue the expansion of their business model. We felt confident our investors would be attracted to the type of asset, location, the tenant, and the overall business strategy set forth in the Private Placement Memorandum," said Kay.

"In addition, the property is located in the state of Texas which is first, an income tax free state and second, considered by many to be very business friendly. We felt confident in the tenant, location and debt free nature of the offering and so did the many 1031 exchange investors that participated in this offering," said Chay Lapin, Managing Member and Founding Partner of Cove Capital Investments.

Like many of Cove Capital's real estate acquisitions, the Cove Texas Net Lease 67 DST was acquired 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.

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 over 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