Cove Essential Net Lease Industrial 114 DST
Single-tenant net lease industrial distribution property in Mobile, AL — sponsored by Cove Capital Investments
Files with the SEC as ESSENTIAL NET LEASE INDUSTRIAL 114 DST
Minimum investment
$1k
Offering size
$12.1M
How much has sold
76.0%
Asset type
Single-tenant net lease industrial distribution property
Location
Mobile, AL
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Cove Essential Net Lease Industrial 114 DST is a Delaware statutory trust — fractional real estate ownership that qualifies for a 1031 exchange — owning one industrial distribution building in Mobile, Alabama.2 Cove Capital says it carries a recently executed 10-year net lease to a division of a multinational food-and-beverage corporation and was bought debt-free.1 The sponsor announced full subscription on August 31, 2026.3
$12.13M equity target; debt-free; 10-yr net lease to food/beverage corp division; on I-65 near Port of Mobile
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These links support the public record as a whole; individual details may come from different sources.
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What exactly is the property?
Cove Capital describes the asset as a 2025 build-to-suit distribution facility that serves as a Product Exchange Center for its tenant, sitting directly along Interstate 65 with connectivity to Interstate 10 and proximity to the Port of Mobile.1 The sponsor announced on April 30, 2026 that the acquisition was complete.1 No reviewed public source gives a street address or a purchase price.
- Reported location
- Mobile, AL
- Property size
- 23,018 SF
Who is the tenant, and what's the lease?
Cove Capital reports a recently executed 10-year net lease with an operator it identifies only as a division of a multinational food-and-beverage corporation.1 Under a net lease the tenant carries most property operating costs; the precise expense split, escalations, and lease dates sit in the offering documents.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
76.0% reported sold
- Amount sold
- $9,186,103
- Still available
- $2,940,633
- Investors reported
- 18
- Total offering
- $12,126,736
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
With no mortgage on the property, there is no loan maturity, refinancing event, or lender covenant to manage — and no lender escrows standing behind capital repairs. The structure also supplies no replacement debt for an exchanger whose relinquished property carried a mortgage.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
Cove Capital Investments, LLC is the promoter named in the Trust's Form D.2 In a milestone release dated July 17, 2026 the firm said it had sponsored more than $1.13 billion in DST transactions across 137 properties and returned $206.3 million to investors. Connect Money reported on July 29, 2026 that Cove had fully subscribed a separate $9.3 million Fort Worth industrial DST.
- Sponsor
- Cove Capital Investments
- Legal Trust name
- ESSENTIAL NET LEASE INDUSTRIAL 114 DST
- May convert to a REIT
- Yes
- Offerings from this sponsor
- 24 active / 57 total offerings from Cove Capital Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust's notice reached EDGAR as an original Form D, and research through September 1, 2026 located no amendment — so the figures on record predate the sponsor's August 31, 2026 full-subscription announcement.3 Because the offering may be generally advertised, the sponsor must verify each buyer's accredited-investor status rather than accept self-certification.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
Is Cove Essential Net Lease Industrial 114 DST still raising money?
Top1031 lists Cove Essential Net Lease Industrial 114 DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Cove Essential Net Lease Industrial 114 DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Is this Trust still open to investors?
Probably not. citybiz reported on August 31, 2026 that Cove Capital announced it had raised $12,126,736 in investor equity and fully subscribed the offering.[3] The only SEC filing on record is the Form D dated March 16, 2026, which predates that announcement and has not been amended, so the subscription figures shown on this page come from the earlier filing. Confirm current availability with the sponsor.
Who is the tenant?
Cove Capital has not publicly named it. The sponsor's April 30, 2026 release describes the occupant as a best-in-class operator and a division of a multinational food and beverage corporation, on a recently executed 10-year net lease.[1] The legal tenant entity and any guarantor should be identified in the PPM (private placement memorandum), the offering's main disclosure document.
What does a debt-free DST mean for my 1031 exchange?
There is no mortgage on the property, so the Trust carries no loan and no refinancing risk. It also supplies no replacement debt. An investor whose relinquished property carried a mortgage generally must replace that debt or offset it with additional cash to defer all gain — a question for their own tax adviser.
What is the 721 exchange exit the sponsor mentions?
A Section 721 or UPREIT exchange lets the property be contributed to a real estate investment trust's operating partnership in return for partnership units, rather than sold for cash. The sponsor's April 30, 2026 release describes the feature as fully optional.[1] The conditions, timing, and who controls the election are set out in the offering documents.
What is not settled by the public record?
The street address and parcel, the purchase price and total acquisition capitalization, occupancy, the tenant's legal name, and lease commencement, expiration and escalation terms appear in neither the Form D nor the sponsor's release. The sponsor's August 31, 2026 full-subscription announcement is not reflected in any amended SEC filing located in research through September 1, 2026.[3]
Chapter 9Cove Capital Fully Subscribes $9.3M Fort Worth Small Bay Industrial DSTConnect Money reports Cove Capital's full subscription of its $9.3 million Fort Worth Small Bay Industrial 96 DST and mentions the $12.1 million Cove Essential Net Lease Industrial 114 DST as part of the sponsor's current offering activity, with a September 9 deadline. Cove Capital Adds Alabama Asset to Growing Industrial DST PortfolioConnect CRE trade-press coverage of the Mobile, AL acquisition completing the Essential Net Lease Industrial 114 DST, noting the fully optional 721 exchange exit feature. Cove Capital Investments Completes Acquisition of Distribution Facility in Mobile, Alabama for Essential Net Lease Industrial 114 DST in 100% Debt-Free TransactionPress release announcing Cove Capital's completion of a 23,018 SF build-to-suit industrial distribution facility acquisition in Mobile, AL along I-65 near the Port of Mobile, leased to a food and beverage corporation division under a 10-year net lease, finalizing the Essential Net Lease Industrial 114 DST targeting $12,126,736 in equity. Cove Capital Fully Subscribes $27.7M DST, Launches $12.1M Alabama Industrial OfferingAltsWire trade-press article reporting Cove Capital's launch of a new ~$12.1M debt-free Alabama industrial DST (Essential Net Lease Industrial 114) on I-65 near Mobile, with a 10-year net lease to a multinational food and beverage corporation division.