Cove Essential Net Lease Portfolio 89 DST
Legal trust name Essential Net Lease Portfolio 89 DST
Talk to a 1031 specialistData updated May 5, 2025
Offering size$13.5M
Asset typeIndustrial
LocationJoplin, MO
FinancingAll cash
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitYes
First filedMay 5, 2025
Last filedMay 5, 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 Portfolio 89 DST is a Delaware statutory trust sponsored by Cove Capital Investments. It holds two newly constructed, build-to-suit last-mile industrial distribution buildings totaling 68,967 square feet, acquired in a 100% debt-free transaction that closed May 8, 2025. One facility in Joplin, Missouri is leased to Lowe's; the other in North Carolina is leased to Frito-Lay. The offering uses no leverage, a $100,000 minimum, and an optional 721 exchange UPREIT exit backed by a 20-year Tax Protection Agreement covering contributing investors' capital gains under defined conditions.
Debt-free (0% LTV); min $100k; tenants Lowe's (2022 BTS, Joplin MO) + Frito-Lay (2024 BTS, Franklin NC); 20-yr TPA; optional 721
68,967 SF total (2 properties)Based on issuer-filed Form D notices through May 5, 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 amount9.0%
Not enough filing history for a trend line.
Capital sold, per latest Form D$1,246,365
Remaining amount reported in latest Form D$12,271,035
Investor count reported in latest Form D5
Stated minimum investment$1,000
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First filedMay 5, 2025
Latest filingMay 5, 2025
Filings tracked1
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
Portfolio and tenants
The trust owns two newly constructed, build-to-suit last-mile industrial distribution buildings totaling 68,967 square feet, acquired for the Essential Net Lease Portfolio 89 DST in a transaction that closed May 8, 2025 with no debt. 1 The Joplin, Missouri asset spans 63,000 square feet with 20 dock-high doors, sits in an established industrial corridor with highway access serving Midwest markets, and was built to suit in 2022 for Lowe's, a national home improvement retailer. 1 The second building, a 2024 build-to-suit leased to Frito-Lay in North Carolina (the sponsor's press release names Sylva while its product page lists Franklin), carries a long-term net lease with multiple renewal options and adjacent excess land for tenant expansion. 1
Structure and capitalization
An issuer-filed Form D dated May 5, 2025 reported a total offering amount of $13,517,400. 2 The offering uses no leverage and a $100,000 minimum, is eligible for 1031 exchange, and includes an optional 721 exchange UPREIT exit paired with a 20-year Tax Protection Agreement under which the REIT would cover contributing investors' federal and state capital gains taxes if it sold the contributed asset without a 1031 exchange. 1 As of its product page dated May 8, 2025, Cove Capital listed the offering as fully subscribed. 3
In the news
Frequently asked questions
Is Cove Essential Net Lease Portfolio 89 DST currently active?
Cove Essential Net Lease Portfolio 89 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 Portfolio 89 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.