Cove Capital Investments Acquires an All-Cash / Debt-Free Retail Center for Its Eastwood Village Opportunity 71 DST

The Delaware Statutory Trust offering is a multi-tenant retail center in Birmingham, AL.

LOS ANGELES, Feb. 21, 2024 /PRNewswire/ — Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company announced it has completed the acquisition of an all-cash / debt-free multi-tenant retail center in Birmingham, AL. Cove’s Eastwood Village Opportunity 71 DST is a Regulation D, Rule 506(c) offering that is targeting to raise $22,798,024 in equity from accredited investors with a minimum investment requirement of $25,000.

According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, the center was purchased by Cove Capital to contribute to its growing portfolio of debt-free real estate assets for 1031 exchange, 1033 exchange and direct cash investors. The retail center is shadow-anchored by a high performing Walmart Supercenter (not a part of the subject offering). Additional anchor tenants include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City, Hibbett Sports, America’s Best, T-Mobile & Starbucks. Eastwood Village is the #1 retail center in the market with many of the tenants ranking within the top percentile within their respective chains as top performers.

“We are thrilled to announce the addition of another all-cash/debt-free DST offering to our portfolio. We would especially like to thank all of the members of the Cove selling group over the years which includes Broker/Dealers, Registered Representatives and RIAs for their support and trust in Cove Capital. The Cove portfolio is now over 1.9 million square feet and continues to rapidly expand,” said Kay.

The property was purchased by Cove Capital with 0% leverage (a debt free DST), for those investors who want to potentially mitigate risk by investing in a debt-free DST offering with no risk of lender foreclosure or lender cash flow sweeps.  Oftentimes, investors ask “Are DSTs risky?” and the answer is yes, all real estate contains risk however when you are invested in a debt free Delaware Statutory Trust you completely eliminate the risk of a lender foreclosure. 

Chay Lapin, Managing Member and Founding Partner of Cove Capital Investments explained, “The purchase of Cove Eastwood Village is a value-add strategy in an effort to potentially increase net operating income and property value/investor equity. What makes this property particularly appealing for our DST offering is that it is the #1 Retail Center in the market seeing an estimated 3.4M visits per year. The property is neighbor to multiple national tenants and is seeing street traffic of a combined 78,000 vehicles per day. The retail center’s strategic location in Birmingham, AL, is in close proximity to the University of Alabama Birmingham, hosting over 21,600 full-time students (2022 Fall Enrollment). The location stands as a densely populated center in Birmingham, AL, with a population of 116,944 within a 5-mile radius of the property,” explained Lapin. Lapin highlighted that this offering boasts a 96% occupancy rate, with recent tenant lease extensions and renewals indicating a strong tenant commitment to the location. Interested accredited investors are encouraged to visit www.covecapitalinvestments.com to register for a copy of the Private Placement Memorandum which goes into full detail on the business plan and risk factors of investing in this Delaware Statutory Trust offering.

About Cove Capital Investments

Cove Capital Investments is a DST sponsor company providing accredited investors access to 1031 exchange eligible Delaware Statutory Trust properties as well as other real estate investment offerings. The Cove Capital team consists of Acquisitions, Asset Management, Accounting, In-House Counsel, Investor Relations, Marketing and Capital Markets. Cove Capital maintains a robust current inventory of DST and private equity real estate offerings potentially available to investors.  Cove Capital Investments has sponsored more than 1.9 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors.

For further information, please visit www.covecapitalinvestments.com or contact Cove Capital at (877) 899-1315 and via email at [email protected].

*Past performance is no guarantee of future results.

* Diversification does not guarantee profits or protect against losses.

*This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior to investing. This material contains information that has been obtained from sources believed to be reliable. However, Cove Capital Investments, LLC does not guarantee the accuracy and validity of the information herein. Investors should perform their own investigations before considering any investment. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Delaware Statutory Trust (DST) properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC.

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SOURCE Cove Capital Investments