Cove Capital Investments, a Delaware Statutory Trust sponsor company, announced it has completed the purchase of a corporate-backed net lease asset in Hollywood, Fla. The purchase is the firm's Florida Net Lease 72 DST, a Regulation D, Rule 506(c) offering that is targeted to raise $14.18 million.
According to Dwight Kay, managing member and founding partner at Cove Capital Investments, the property was purchased by Cove Capital as part of its growing portfolio of debt-free Delaware Statutory Trust real estate assets for 1031 exchange and direct cash investors.
In addition, the property is located in Florida, which is an income tax–free state and considered by many to be very business friendly.
