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Cove Capital Investments, LLC, a private equity real estate firm and DST sponsor company that specializes in providing accredited investors access to unlevered/debt-free investment options for their 1031 exchange and direct cash investments, announced it has completed the acquisition of a 100% occupied logistics/distribution facility in the Rochester, NY area. The new acquisition is for the Cove Net Lease Distribution 53 DST offering, a regulation D Rule 506c Delaware Statutory Trust offering.
According to Chay Lapin, Managing Member and Co-Founder of Cove Capital Investments, the 111,741 square-foot building was purchased by Cove Capital and offered as a debt-free DST investment for accredited investors. The offering is designed for those investors who want to potentially mitigate risk by investing in an unlevered/debt-free DST with no risk of lender foreclosure or lender cash flow sweeps. The building, located in Rochester, NY is 100% leased by a Fortune 500 logistics tenant.
“The acquisition of this essential industrial facility adds to our growing inventory of high-quality logistics assets across the country. With the booming industrial/logistics real estate sector, and the high demand for logistical space across the country, we feel confident in the future for this asset due to its location, the stability of the tenant, and a supply-constrained industrial market,” said Lapin.
“With this acquisition, Cove Capital has now purchased more than 2 million square feet of industrial, medical, net lease, and multifamily assets nationwide. This would not have been possible without the trust and support from all the members of the Cove Capital selling group over the years which includes Broker/Dealers, Registered Representatives and RIAs. Also, I would like to recognize our amazing fully integrated real estate team at Cove Capital consisting of acquisitions, asset management, accounting, due diligence, in-house counsel, investor relations, marketing and capital markets. We are thankful to the Lord for this incredible opportunity to work with such talented individuals at Cove Capital,” said Dwight Kay.
Cove Capital Investments is a private equity real estate firm and 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, Due Diligence, 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 over 2.3 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors. The principals of Cove Capital Investments seek to invest alongside investors in each of their offerings.
For further information, please visit www.covecapitalinvestments.com or contact Cove Capital at (877) 899-1315 and via email at info@covecapitalinvestments.com.
