Fulshear, TX Cove Capital Investments, LLC, a DST sponsor company that specializes in providing accredited investors access to debt-free investment options for their 1031 exchange and direct cash investments, announced its Rogers Business Park Opportunity 73 DST, a Regulation D, Rule 506(c) Delaware Statutory Trust offering, is fully subscribed. The total amount of equity raised for the offering was $23,186,525.00.
According to Dwight Kay, managing member and founding partner of Cove Capital Investments, the Delaware Statutory Trust property was purchased by Cove as part of its growing portfolio of debt-free real estate assets for 1031 exchange and direct cash investors. The 1031 exchange DST offering was designed to eliminate the risk of lender debt covenants, lender cash flow sweeps and lender foreclosure.
“We extend our sincere thanks to all our clients who invested in this DST, as well as to the many members of the Cove selling group, including broker/dealers, registered representatives, and RIAs. We are pleased to announce that the Cove Capital Investments portfolio now spans over 2.4 million s/f of properties in 33 states,” said Kay.
The asset is located in Fulshear, Texas and is considered ground zero for Fulshear’s historic growth and development. The property’s location, just north of downtown Fulshear, is positioned to potentially benefit from the city’s rapid growth. Fulshear is noted as the fastest-growing city in Texas and home to several top-selling master-planned communities, which further enhanced the appeal of this investment opportunity (past performance is no guarantee for future results). The strategic positioning makes the property believed to be well located given its proximity to downtown and being in the path of ongoing development.1
“Fulshear is a thriving community with a dynamic business environment, making it an ideal location for our latest addition to the Cove portfolio—a flex industrial mixed-use property. The Rogers Business Park Opportunity 73 DST represents a prime investment, purchased below replacement cost and currently 95.22% occupied, with recent lease extensions and renewals reflecting strong tenant commitment. We are confident that this asset, with its strategic location, high-quality tenants, and the well-defined business strategy outlined in the Private Placement Memorandum, will attract investors looking for the potential for growth and current income via ACH direct deposit monthly distributions.” said Chay Lapin, managing member and founding partner of Cove Capital Investments.
Like many of Cove Capital’s real estate acquisitions, the Rogers Business Park Opportunity 73 DST was acquired with 0% leverage for those investors who want to potentially mitigate risk by investing in a debt-free DST 1031 exchange investment 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 1031 exchange DST real estate investment options like the Rogers Business Park Opportunity 73 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 like many other DST offerings are that have debt on them. Our emphasis on debt-free investing has been an important differentiator in the 1031 exchange and Delaware Statutory Trust marketplace, and an attractive ingredient for our growing number of accredited 1031 exchange investors, broker dealers, registered representatives and RIA’s,” said Kay.
Cove Capital Investments is a Delaware Statutory Trust sponsor company that operates a portfolio of over 2.5 million s/f of real estate in 33 states nationwide. Over 1,800 investors have trusted Cove Capital with their 1031 exchange and investment dollars, many of them being repeat investors in multiple DST offerings over the years. Our offerings are attractive to those investors seeking to lower risk potential as the majority of Cove Capital’s DST offerings are debt free (no mortgage - no lender foreclosure risk).
*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.