Cove Essential Net Lease Industrial 114 DST
Industrial property in Mobile, AL · sponsored by Cove Capital Investments
Active offeringLatest Form D filed Mar 16, 2026 (opens in a new tab)
Cove Essential Net Lease Industrial 114 DST is a DST sponsored by Cove Capital Investments that owns an industrial property in Mobile, AL (23,018 SF). Its latest Form D, filed Mar 16, 2026, lists a $12.1 million offering with a $1,000 minimum.
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $12,126,736Equity offered, per the Form D
- Sold so far
- Form D, Mar 16, 2026; the % is our arithmetic75.7%
- Investors reported
- Form D, Mar 16, 202618
- Selling commissions
- Not in the Form DForm D Item 15
- 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 →
Sales so far
- Latest Form D
- Mar 16, 2026 · 1 filing
- First sale
- Feb 25, 2026
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $9,186,103
- Not yet sold
- $2,940,633
- Investors
- 18
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
75.7% of $12,126,736 sold, calculated by Top1031 from the Form D
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Ask a 1031 specialist about this recordFree. About: Cove Essential Net Lease Industrial 114 DST. Top1031 is not a broker-dealer.No photo on record.
What does the Trust own?
Cove Capital describes the asset as a build-to-suit distribution facility that serves as a Product Exchange Center for its tenant, positioned along Interstate 65 with immediate connectivity to Interstate 10. 1 The sponsor says the building was completed in 2025 and sits on roughly 4.70 acres. 3 Cove announced the completed acquisition on April 30, 2026. 1 No reviewed source gives a street address or a purchase price.
- Reported location
- Mobile, AL
- Property size
- 23,018 SF
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
Cove Capital describes the purchase as 100% debt-free. 1 With no mortgage 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.
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
- Not in the Form D
- Finders’ fees
- Not in the Form D
- 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
- Feb 25, 2026
- Minimum investment
- $1,000
Form D Item 15 amounts may be the issuer’s estimates; the percentage is Top1031’s arithmetic on two Form D figures.
Who's behind the Trust?
Cove Capital Investments, LLC is the promoter named in the Trust's Form D, signed by Dwight Kay as manager of the signatory trustee. 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. Cove also states that its principals invested their own capital alongside investors in this Trust. 3
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- ESSENTIAL NET LEASE INDUSTRIAL 114 DST
- SEC CIK
- 2117067
- First Form D
- Mar 16, 2026
- Latest Form D
- Mar 16, 2026
- 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 | $12,126,736 | $9,186,103 | 18 | 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
- Is Cove Essential Net Lease Industrial 114 DST an active offering?
- Cove Essential Net Lease Industrial 114 DST is an Active offering: its latest Form D was filed Mar 16, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- Does Cove Essential Net Lease Industrial 114 DST have a 721 UPREIT exit?
- The record lists a possible 721 exit for Cove Essential Net Lease Industrial 114 DST. It is an option, not a completed transaction; the offering documents set whether and when it can 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
- 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. The legal tenant entity and any guarantor should be identified in the offering documents.
- What kind of building is it?
- A single-tenant industrial distribution facility in Mobile, Alabama that Cove Capital says was built to suit and functions as a Product Exchange Center for its tenant, sited along Interstate 65 with immediate connectivity to Interstate 10. The sponsor states the building was completed in 2025 on approximately 4.70 acres. Dock and yard configuration and the parcel address are not established by the SEC filing or the sponsor releases reviewed.
- 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 not settled by the public record?
- The street address and parcel, the purchase price and total acquisition capitalization, the tenant's legal name, an explicit occupancy statement, and lease commencement, expiration and escalation terms appear in neither the Form D nor the sponsor releases reviewed.
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.