In separate transactions, Cove Capital Investments acquire two retail net-lease assets. The financial terms were not disclosed.
In Johnson City, Tenn., the firm acquired a Walgreens pharmacy net-lease asset. Built in 2008, the property is slated for one of Cove Capital’s Delaware Statutory Trusts (DSTs), which offers investors the opportunity to invest and participate in 1031 exchange passive DST investments. Specifically, the property will serve as one of three foundational assets to Cove Capital’s latest investment offering: Cove Essential Net Lease 25 DST, a regulation D, Rule 506c private placement.
Another DST asset acquired by Cove Capital was the Family Dollar net-lease asset located in Waynesville, Ga., which was built in 2020.
The net-lease property sector has demonstrated resilience during the COVID-19 pandemic. That strength can be seen in the record low cap rates for single-tenant net-lease retail, office and industrial properties. According to T
