Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company, has completed the purchase of The Peanut Factory Lofts, a dynamic multifamily asset in historic downtown San Antonio.
The acquisition will establish the Cove Capital San Antonio Multifamily 74 DST, a Regulation D, Rule 506(c) offering that aims to raise more than $18.68 million.
“From an investment perspective, this property has some characteristics that we believe will bode well for us over the hold period,” said Dwight Kay, managing member and founding partner of Cove Capital Investments. “For example, the 102-unit building was constructed in 2014 and has a net rentable area of 96,184 square feet. The property also has a diverse mix of dwelling units, including studio, one-, two-, and three-bedroom floorplans, townhomes, and a penthouse. This diverse selection perfectly align