Cove Capital Investments, a private equity real estate firm and DST sponsor company specializing in debt-free investment offerings for 1031 exchange and direct cash accredited investors, has fully subscribed its Cove Net Lease Distribution 56 DST, a regulation D Rule 506c Delaware Statutory Trust offering. The total amount of equity raised for the property was more than $15 million.
“The Cove Net Lease 56 DST debt-free offering is a 39,168-square-foot building that is 100 percent occupied by a Fortune 500 logistics tenant located in the strategic logistics area of Colby, Kansas,” said Dwight Kay, a managing member and co-founder of Cove Capital Investments. “In addition to the attractiveness of the debt-free nature of the offering, which mitigates risks such as lender foreclosure, refinancing challenges, and balloon mortgage maturity payment, investors were attracted to the high-quality nature of the asset as well. This was an essential distribution facility located in