Cove Capital Investments LLC, a DST sponsor company focused on debt-free Delaware statutory trusts (DSTs), has purchased a 159-unit, 130,128-square-foot multifamily community in the Dallas Forth-Worth area.
The property will be part of the Cove Dallas Multifamily 59 DST, allowing investors to participate in the acquisition. According to Chay Lapin, managing member and co-founder of Cove Capital, the Cove Dallas Multifamily 59 DST is an excellent example of a value-add DST investment for Cove Capital investors.
“As a proactive owner-operator, Cove Capital will be able to potentially provide value to our investors through implementing a renovation plan that includes upgrading both interiors and exteriors, and driving operational efficiencies to help maximize revenue potential,” comments Lapin. “The Cove portfolio now consists of more than 1.5 million square feet of multifamily, industrial, medical and net lease assets. We are thankful to the hundreds of loyal Cove clients as well as the many broker dealers, registered representatives and RIAs that have placed their trust in Cove Capital.”