The new Delaware Statutory Trust offering includes a two-property portfolio with newly inked long-term, twenty year, corporately backed net leases.
LOS ANGELES, Aug. 17, 2023 /PRNewswire/ — 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 strategically 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 is targeting to raise $21.4 million and only available to accredited investors.
According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, both properties were purchased by Cove Capital as part of its growing portfolio of debt-free real estate assets for 1031 exchange and direct cash investors.
“We are excited about this unique Delaware Statutory Trust portfolio for several reasons. First, the DST portfolio includes two properties located in Mansfield and Hurst, TX, 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,” said Kay.
“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.
Like the majority 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.
“Cove Capital Investments recognized early on that there was a void in the marketplace for high-quality, debt-free real estate investment options like the Cove Texas Net Lease 67 DST which provides greater flexibility for our investors. We are free to pursue whichever exit strategy provides the best potential opportunity to our investors without being constricted by lender prepayment penalties and vast defeasance costs. Our emphasis on debt-free investing has been an important differentiator in the marketplace, and an attractive ingredient for our growing number of 1031 exchange investors, advisors, broker/dealers, and RIA’s,” said Kay.
About 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 Cove Capital team consists of Acquisitions, Asset Management, Accounting, In-House Counsel, Investor Relations, Marketing and Capital Markets professionals. Cove Capital maintains a robust current inventory of DST and private equity real estate offerings available to accredited 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, retail and office sectors.
*Past performance is no guarantee of future results.
* Diversification does not guarantee profits or protect against losses.
* All offerings shown are 506c…. disclosure….
* Accredited investor disclosure
*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 email 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
Originally published at https://www.prnewswire.com/news-releases/cove-capital-investments-completes-the-acquisition-of-two-long-term-net-lease-properties-as-part-of-its-debt-free-texas-net-lease-67-dst-301903153.html
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