Bozman Business Park
Small bay flex industrial property in Wylie, TX · sponsored by Cove Capital Investments
Bozman Business Park was a DST sponsored by Cove Capital Investments that owned a small bay flex industrial property in Wylie, TX (23,930 SF). Its last Form D was filed May 20, 2025.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed May 20, 2025.
Cove Capital Investments has 18 active offerings on record →
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $6,097,142Equity offered, per the Form D
- Sold
- 23.6%Form D, May 20, 2025; the % is our arithmetic
- Investors reported
- Form D, May 20, 20256
- Selling commissions
- Form D Item 15; the % is our arithmetic$304,858 · 5.0% of offering
- Financing
- All cash. This offering reports no mortgage debt.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: Bozman Business Park. Top1031 is not a broker-dealer.Bozman Business Park · Wylie, TX · Photo: covecapitalinvestments.com
What did Bozman Business Park own?
Cove Capital describes the building as 2022/2023 new construction, divided into small bays for multiple tenants. 2 Small-bay flex industrial leases modest suites to local contractors, service firms, and light manufacturers, so rent arrives from several tenants rather than one corporate lease. Cove reported completing the purchase on July 16, 2025, which finished forming the Trust; the public record does not disclose what it paid. 3
- Property address
- 1141 Bozman Rd, Wylie, TX
- Property size
- 23,930 SF
How was it financed, and what did it cost to sell?
The Trust holds the property free of mortgage debt, so there is no lender, no loan maturity, and no refinancing risk; Cove reported the purchase used no debt. 3 The trade-off is that a debt-free Trust supplies no replacement debt for an exchanger whose relinquished property carried a mortgage.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
- May convert to a REIT (721)
- Yes
Costs and terms from the Form D
- Selling commissions
- $304,858 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $587,771 · 9.6% of offeringForm D Item 16· The filing’s note: “Mr Kay & Lapin will receive a portion of this amount (in)directly, for various fees and selling commissions, EXCLUDING amounts received for sales in the state of OR. OR proceeds will be received by registered representatives licensed in the state of OR”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- FNEX Capital, LLC · CRD 166316
Individual representatives named in Item 12 are not listed.
- Date of first sale
- May 14, 2025
- Minimum investment
- $1,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Bozman Business Park?
Cove Capital Investments assembled and sponsors this Trust, and specializes in debt-free DST offerings. 2 In a sponsored article dated July 16, 2026, Cove reported platform-wide milestones of more than $1.13 billion in cumulative sponsored transactions, 137 properties, and 2,768 investors — figures spanning its whole portfolio, not this Trust. Cove also describes an optional future 721 exchange, in which Trust interests are contributed to a REIT's operating partnership instead of cashing out.
- Sponsor
- Offerings on record
What does the SEC record show?
The SEC paper trail here is thin: the initial Form D — the short notice an issuer files when selling securities without registering them — has not been amended, and it predates the closing Cove announced on July 16, 2025. 3 Under the exemption used, Cove may advertise publicly but must verify each buyer's accredited-investor status. 1
- Legal Trust name
- Dallas MSA Small Bay Industrial 91 DST
- SEC CIK
- 2068955
- First Form D
- May 20, 2025
- Latest Form D
- May 20, 2025
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $6,097,142 | $1,439,495 | 6 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to Bozman Business Park?
- Bozman Business Park is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed May 20, 2025.
- Does Bozman Business Park have a 721 UPREIT exit?
- The record lists a possible 721 exit for Bozman Business Park. The offering documents set whether and when it could happen. In a 721 exchange, or UPREIT, the DST’s property is contributed to a REIT’s operating partnership and investors receive operating-partnership units instead of cash.
- How a DST-to-721 UPREIT exit works
- What does a debt-free DST mean for my 1031 exchange?
- The Trust owns the property without a mortgage, which removes lender covenants, loan maturities and refinancing risk. It also means the Trust passes through no debt. If your relinquished property carried a mortgage, a debt-free Trust does not supply replacement debt, and you may need other replacement property or additional cash to avoid boot. Work the arithmetic through with your own tax adviser.
- Who are the tenants?
- No public filing names them, and the public materials reviewed for 1141 Bozman Road did not establish a named tenant. Cove reported the property 100% leased as of July 16, 2025, with a wait list of prospective tenants, but tenant identities, suite sizes, rents and expiration dates appear only in the offering documents and their rent roll.
- What is small-bay flex industrial?
- A building subdivided into small industrial or warehouse suites, typically leased to contractors, distributors, service businesses and light manufacturers. Income is spread across many tenants on relatively short leases rather than concentrated in one long-term corporate tenant, which diversifies credit risk but means more frequent lease rollover and active leasing work.
- How would this investment end?
- Two paths appear in the record: a sale of the property, or the optional 721 exchange Cove describes, in which Trust interests are contributed to a REIT's operating partnership in exchange for units. The 721 route can defer tax but generally ends the ability to do future 1031 exchanges on that interest. No hold period is stated in the public filings.
In the news
Sources
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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.