Cove Capital Investments, a private equity real estate firm and 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 its strategically located Cove Missoula Multifamily DST offerings full cycle on behalf of multiple 1031 exchange and direct cash investors.
The asset, located near the University of Montana, sold for $8.14 million on behalf of a group of DST accredited investors who, for those investors that closed simultaneously on the DST investment the same day that the property was purchased, realized a 149.21 percent total return on their investments, or an 18.29 percent average annualized return from their DST 1031 investment.
“The strategically located property was offered to investors as a debt-free investment option to provide a lower-risk profile for both 1031 exchange and direct cash investors,” said Dwight Kay