Cove Essential Net Lease Industrial 87 DST
Legal trust name Essential Net Lease Industrial 87 DST
Talk to a 1031 specialistData updated May 22, 2025
Offering size$5.9M
Asset typeIndustrial
LocationSierra Vista, AZ
FinancingAll cash
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitNo
First filedFeb 14, 2025
Last filedMay 22, 2025
Minimum$1k
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.
Cove Essential Net Lease Industrial 87 DST is a Delaware Statutory Trust sponsored by Cove Capital Investments that owns a 26,795-square-foot FedEx Ground distribution facility in Sierra Vista, Arizona. The single-tenant building sits less than 1,000 feet from U.S. Highway 90, which connects to Interstate 10 and markets in Tucson, Phoenix, and El Paso. FedEx Ground occupies the entire property under a 10-year lease executed at acquisition alongside an early extension. The all-cash, debt-free Regulation D Rule 506(c) offering targeted roughly $5.88 million in equity and set a $100,000 minimum investment. As of July 13, 2026, Cove Capital's website shows the offering as fully subscribed.
Debt-free (0% LTV); $5,883,299 equity target; min $100k; tenant FedEx Ground (FDX); <1,000 ft from US-90
26,795 SFBased on issuer-filed Form D notices through May 22, 2025. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount95.0%
Capital sold, per latest Form D$5,609,520
Remaining amount reported in latest Form D$273,779
Investor count reported in latest Form D28
Stated minimum investment$1,000
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First filedFeb 14, 2025
Latest filingMay 22, 2025
Filings tracked2
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Property and tenant
The trust holds a 26,795-square-foot industrial distribution facility in Sierra Vista, Arizona, positioned less than 1,000 feet from U.S. Highway 90, which links to Interstate 10 and regional markets in Tucson, Phoenix, and El Paso 1. FedEx Ground, a subsidiary of FedEx Corporation (NYSE: FDX), occupies the entire building and carries ratings reported as BB from S&P and Baa2 from Moody's 1. At acquisition, FedEx Ground executed a new 10-year lease together with an early lease extension 1.
Offering structure
Cove Capital acquired the property in a 100% debt-free transaction announced on May 20, 2025, targeting $5,883,299 of equity through a Regulation D Rule 506(c) offering; co-founders Dwight Kay and Chay Lapin serve as managing members 2. The Delaware Statutory Trust is all-cash with 0% leverage and set a $100,000 minimum investment 1. An issuer-filed Form D amendment dated May 22, 2025 reported $5,609,520 sold of the $5,883,299 offered 3.
Status
As of July 13, 2026, Cove Capital's website shows the offering as fully subscribed 1.
In the news
Frequently asked questions
Is Cove Essential Net Lease Industrial 87 DST currently active?
Cove Essential Net Lease Industrial 87 DST is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Cove Essential Net Lease Industrial 87 DST?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.