Cove Capital Investments, a Delaware Statutory Trust sponsor company, has purchased an industrial asset in Athens, Ga. This marks the firm's General Time Industrial Park Opportunity 84 DST, a Regulation D, Rule 506(c) offering targeted to raise more than $16 million.
Dwight Kay, managing member and founding partner of Cove Capital, said the property was purchased as part of Cove Capital’s growing portfolio of debt-free Delaware Statutory Trust real estate assets for 1031 exchange and direct cash investors.
Acquired below replacement cost, the property is situated within the larger 35-acre General Time mixed-use development that is set to become a new commercial center for residents of Athens. The property spans 113,157 square feet and houses two well-recognized businesses.
According to Kay, the asset was built in 1990 and redeveloped between 2018 and 2021 with high-quality construction. It now features a completely redeveloped site plan with improved ingress/e