Cove Capital Investments, a Delaware statutory trust sponsor company, announced it has completed the acquisition of an all-cash/debt-free multitenant retail center in Birmingham, Ala.
Cove’s Eastwood Village Opportunity 71 DST is a Regulation D, Rule 506(c) offering that is targeting to raise $22.80 million in equity from accredited investors with a minimum investment requirement of $25,000.
The center was purchased by Cove Capital to contribute to its growing portfolio of debt-free real estate assets for 1031 exchange, 1033 exchange and direct cash investors. The retail center is shadow-anchored by a high-performing Walmart Supercenter (not a part of the subject offering). Additional anchor tenants include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City, Hibbett Sports, America’s Best, T-Mobile and Starbucks. Eastwood Village is the No. 1 retail center in the market with many of the tenants ranking within the top percentile within their respect