Cove Capital Investments, a private equity real estate firm and Delaware Statutory Trust (DST) sponsor company that specializes in providing accredited investors access to debt-free DST investment options for their 1031 exchange and direct cash investments, announced it successfully brought another one of its strategically located logistics DST offerings full cycle on behalf of multiple 1031 exchange and direct cash investors.
The property, Cove Dulles Distribution DST, located in the Washington, D.C., metro area, sold for $8.15 million on behalf of a group of DST accredited investors. The investors that closed simultaneously on the DST investment the same day the property was purchased realized a 126.44 percent total return on their investments, or an 8.67 percent average annualized return from their DST 1031 investment.
The newly constructed logistics DST asset consisted of a distribution asset located in a mature industrial area of Sterling, Va., north of Dulles Int