Cove Essential Net Lease Industrial 116 DST
Industrial property in Paducah, KY · sponsored by Cove Capital Investments
Active offeringLatest Form D filed May 27, 2026 (opens in a new tab)
Cove Essential Net Lease Industrial 116 DST is a DST sponsored by Cove Capital Investments that owns an industrial property in Paducah, KY. Its latest Form D, filed May 27, 2026, lists a $14.5 million offering with a $1,000 minimum.
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $14,554,008Equity offered, per the Form D
- Sold so far
- Form D, May 27, 2026; the % is our arithmetic52.5%
- Investors reported
- Form D, May 27, 202626
- Selling commissions
- Form D Item 15; the % is our arithmetic$873,240 · 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 →
Sales so far
- Latest Form D
- May 27, 2026 · 1 filing
- First sale
- May 7, 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
- $7,651,669
- Not yet sold
- $6,902,339
- Investors
- 26
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
52.5% of $14,554,008 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 116 DST. Top1031 is not a broker-dealer.Cove Essential Net Lease Industrial 116 DST · Paducah, KY · Photo: bloximages.newyork1.vip.townnews.com
What does the Trust own?
The Trust's only asset is an industrial distribution facility that Cove Capital Investments said on June 1, 2026 it had acquired for this offering, describing it as a primary operation in its market and critical to the tenant's distribution network. 1 Public disclosure stops at city, state, and asset type: as of August 14, 2026, no street address, square footage, year built, purchase price, or closing date appears in the sponsor's release or in the Form D.
- Reported location
- Paducah, KY
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?
Debt-free means no mortgage and no lender: nothing to refinance, no loan maturity date, and no borrowed money magnifying results in either direction. Cove Capital said the acquisition it announced on June 1, 2026 closed 100% debt-free, with no mortgage on the property. 1
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
- $873,240 · 5.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,559,860 · 10.7% of offeringForm D Item 16· The filing’s note: “Mr Kay & Lapin will receive a portion of this amount (in)directly for various fees & selling commissions, EXCLUDING amounts received for sales in Oregon, 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 7, 2026
- 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 specializes in DSTs that own their real estate without mortgage debt. In a July 17, 2026 press release the firm said it had sponsored more than $1.13 billion in transactions across 137 properties and 4.29 million square feet, with about $206.3 million returned to investors and an 11.01% average annualized return across completed DST cycles, all without leverage. Connect Money reported on August 10, 2026 that Cove acquired a Michigan corporate headquarters for another DST.
- Sponsor
- Offerings on record
What does the SEC record show?
One Form D and no amendments: nothing has been filed to revise the original terms, so the figures in that single filing describe a moment in May 2026, not today. Rule 506(c) means the offering may be advertised publicly, but the sponsor must independently verify each buyer's accredited-investor status rather than accept self-certification.
- Legal Trust name
- Essential Net Lease Industrial 116 DST
- SEC CIK
- 2137192
- First Form D
- May 27, 2026
- Latest Form D
- May 27, 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 | $14,554,008 | $7,651,669 | 26 | 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 116 DST an active offering?
- Cove Essential Net Lease Industrial 116 DST is an Active offering: its latest Form D was filed May 27, 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 116 DST have a 721 UPREIT exit?
- The record lists a possible 721 exit for Cove Essential Net Lease Industrial 116 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
- What does "debt-free" mean for this Trust?
- Cove Capital announced on June 1, 2026 that it acquired the Paducah facility in a 100% debt-free transaction, with no mortgage on the property. There is no lender, no loan maturity, and no refinancing event to plan around. It also means the Trust supplies no mortgage debt of its own, so an exchanger who paid off a loan on the property they sold has no Trust-level debt to count toward replacing it.
- Who is the tenant?
- Cove Capital describes the building as 100% leased to a leading logistics company under a newly executed long-term lease extension, but the June 1, 2026 release does not name the operator, and the Form D does not either. The offering documents are where the tenant's legal name and lease terms would be stated.
- What is the minimum investment?
- The Form D dated May 27, 2026 reports a $1,000 minimum investment. In practice, minimums for 1031 exchange investors in DST offerings are typically set higher in the offering documents than the figure reported on a Form D, and cash (non-exchange) minimums can differ from exchange minimums.
- What is not disclosed publicly about this Trust?
- As of August 14, 2026, public sources give the city, state, asset type, debt-free structure, and the fact of a long-term lease extension. They do not give the street address, square footage, purchase price, closing date, tenant name, lease expiration, or the allocation of taxes, insurance, and structural repairs. Those belong in the offering documents.
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.