Cove Eastwood Village Opportunity 71 DST
Multi-tenant retail property in Birmingham, AL · sponsored by Cove Capital Investments
Cove Eastwood Village Opportunity 71 DST was a DST sponsored by Cove Capital Investments that owned a multi-tenant retail property in Birmingham, AL (130,056 sq ft). Its last Form D was filed Jan 9, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Jan 9, 2024.
Cove Capital Investments has 18 active offerings on record →
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $22,798,024Equity offered, per the Form D
- Sold
- 14.8%Form D, Jan 9, 2024; the % is our arithmetic
- Investors reported
- Form D, Jan 9, 202412
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,367,881 · 5.9% 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: Cove Eastwood Village Opportunity 71 DST. Top1031 is not a broker-dealer.Cove Eastwood Village Opportunity 71 DST · Birmingham, AL · Photo: covecapitalinvestments.com
What did the Trust own?
Eastwood Village East is an anchored neighborhood retail center at 7817 Crestwood Blvd. in Birmingham, Alabama. 3 Cove Capital Investments announced the completed acquisition on February 21, 2024, describing the center as shadow-anchored by a neighboring Walmart Supercenter that the Trust does not own. 1 A December 18, 2024 property preview distributed through Realty Mogul reported a purchase price of $17,578,000. 3 Shopping Center Business reported the center was 96% occupied at the time of sale. 4
- Reported location
- Birmingham, AL
- Property size
- 130,056 sq ft
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
The Trust owns the center outright, so there is no lender, no loan maturity to refinance and no mortgage that could be foreclosed; the flip side is that investor equity funds the entire purchase. Cove Capital describes the offering as 0% leverage and debt-free. 6
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,367,881 · 5.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,348,841 · 10.3% 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
- Jan 2, 2024
- 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 the Trust?
Cove Capital Investments sponsors Delaware Statutory Trusts for 1031 exchange investors and markets debt-free structures as its specialty. 6 Founders Dwight Kay and Chay Lapin announced on October 3, 2024 that this Trust had been fully subscribed, raising $22,798,024. 2 AltsWire reported the offering launched in January 2024, matching the SEC filing record. 5
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's SEC record consists of a single Form D — the short notice an issuer files when selling securities privately — with no amendments since. 7 Rule 506(c) means the sponsor may advertise the offering publicly but must take steps to verify that every investor is accredited.
- Legal Trust name
- Eastwood Village Opportunity 71 DST
- SEC CIK
- 2006921
- First Form D
- Jan 9, 2024
- Latest Form D
- Jan 9, 2024
- 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 | $22,798,024 | $3,377,648 | 12 | 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 Cove Eastwood Village Opportunity 71 DST?
- Cove Eastwood Village Opportunity 71 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Jan 9, 2024.
- What does an all-cash, debt-free DST mean for a 1031 exchange?
- It means the Trust bought the property without a mortgage. For a 1031 exchange, the IRS requires you to replace both the equity and the debt from your relinquished property. A debt-free DST supplies no replacement debt, so it generally suits an exchanger whose sold property was unencumbered — an exchanger who had a loan would need another source of replacement debt or would recognize boot. Confirm your own numbers with your tax adviser.
- Who are the tenants?
- It is a multi-tenant center. Cove Capital named Ross Dress for Less, Five Below, Office Depot, Michaels, Party City, Hibbett Sports, America's Best, T-Mobile and Starbucks among the tenants, with a neighboring Walmart Supercenter acting as a shadow anchor that the Trust does not own. Shopping Center Business reported the property was 96% occupied when it sold in March 2024; Cove Capital reported 97% occupancy in October 2024.
- Is there a 721 UPREIT exit planned?
- No. The record shows no provision for converting investor interests into operating partnership units of a REIT — a 721/UPREIT exit. Absent that path, the eventual outcome for investors depends on a sale of the property itself, and no sale, refinancing, or full-cycle result has been reported in the public record reviewed.
- What did Cove Capital pay for the property?
- A December 18, 2024 property preview distributed through Realty Mogul reported a purchase price of $17,578,000 for the 130,056-square-foot center. Cove Capital announced the completed acquisition on February 21, 2024 and targeted $22,798,024 of equity from accredited investors in the Rule 506(c) offering, the difference reflecting reserves, fees and offering costs disclosed in the offering documents.
In the news
Sources
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These links support the record as a whole; individual details may come from different sources.
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.