Cove Capital Completes Purchase of Gulfport, MS Net Lease Logistics Asset for Delaware Statutory Trust Offering
Cove Capital Investments, LLC (“Cove Capital”) adds another strategic logistics acquisition to its growing list of all-cash, debt-free DST investment offerings designed for investors looking to potentially mitigate risk without long-term mortgages for encumber the properties.
LOS ANGELES, June 2, 2022 /PRNewswire/ — Cove Capital Investments, LLC, announced that it has completed the purchase of a 40,595 square foot single-tenant logistics facility at Gulfport, MS which is rented by one of the largest express companies in the world.
Because the tenant is considered a critical logistics/distribution provider, it has remained open and active during the recent COVID-19 pandemic, and therefore potentially more resilient to “black swan events”.
The industrial building was constructed in 2006 by a developer specializing in custom construction projects for Fortune 500 logistics companies. As a result, the gulfport the logistics building is 100% occupied by a committed tenant and the property benefits from debt-free ownership by investors with no risk of foreclosure from the lender.
“Cove Capital’s DST investment acquisition team appreciated several things about this asset, including the fact that the facility performs core logistics operations and is anchored by a premier tenant and high quality with a long-standing commitment to location. Additionally, this property is at the center of a highly sought-after logistics/industrial market,” said Chai Rabbitmanaging member and co-founder of Cove Capital Investments.
The property was purchased in the name of Cove Net Lease Ground 44 DST, a Regulation D, Rule 506c private placement offering all cash/debt free Delaware Statutory Trust.
“With the booming industrial/logistics real estate sector and strong demand for logistics space, we believe this asset is a major asset to our DST investment portfolio and our investors due to its location, tenant stability during the COVID-19 shutdown, and the growing lack of inventory for quality logistics buildings,” Lapin said.
About Cove Capital Investments
Cove Capital Investments is a real estate private equity firm providing accredited investors with access to 1031 Delaware Statutory Trust exchange-eligible properties as well as other real estate investment offerings. The Cove Capital team includes acquisitions, asset management, accounting, due diligence, in-house legal counsel, investor relations, marketing and capital markets. Cove Capital maintains a strong current inventory of DST real estate and private equity offerings potentially available to investors. Cove Capital Investments has sponsored and co-sponsored the syndication of over 2.3 million square feet of 1031 DST and real estate offerings in the multifamily, net lease, industrial and office sectors. Cove Capital Investments executives seek to invest alongside investors in each of their offerings.
For more information, please visit www.covecapitalinvestments.com or contact Cove Capital at (877) 899-1315 and by email at firstname.lastname@example.org.
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SOURCE Cove Capital Investments