Cove Capital Investments, a national sponsor of debt-free 1031 exchange Delaware Statutory Trust (DST) investments, announced it has successfully completed the acquisition of a 29,000-square-foot retail asset located in Shreveport, La. The latest offering is structured under Regulation D, Rule 506(c) that seeks to raise $7.1 million in equity from accredited investors.
According to Dwight Kay, managing member and founding partner of Cove Capital, the property is fully occupied by two nationally recognized retail brands with established operating histories and broad consumer recognition.
Cove Capital Investments acquired the property at approximately 30 percent below current replacement cost, and in-place rental rates are approximately 29 percent below the submarket average, providing the potential opportunity to capture future rental growth over the course of ownership. Combined with the submarket’s low retail vacancy and Bayou Walk’s role as one of the region’s
