Top1031

Cove Rogers Business Park 73 DST

Industrial property in Fulshear, TX · sponsored by Cove Capital Investments

HistoricalLast Form D filed Apr 2, 2024 (opens in a new tab)

Cove Rogers Business Park 73 DST was a DST sponsored by Cove Capital Investments that owned an industrial property in Fulshear, TX. Its last Form D was filed Apr 2, 2024.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Apr 2, 2024.

Cove Capital Investments has 18 active offerings on record →

Key facts

Minimum investment
$1,000
From the Form D
Offering size
$23,186,525
Equity offered, per the Form D
Sold
Not reported after the first Form D (Apr 2, 2024)
Form D, Apr 2, 2024
Selling commissions
$1,391,192 · 6.0% of offering
Form D Item 15; the % is our arithmetic
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 →

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Ask a 1031 specialist about this recordFree. About: Cove Rogers Business Park 73 DST. Top1031 is not a broker-dealer.
Cove Rogers Business Park 73 DST image 1 of 2

Cove Rogers Business Park 73 DST · Fulshear, TX · Photo: mma.prnewswire.com

What did the Trust own?

The asset sits at the corner of Rogers Road and FM 359, just north of downtown Fulshear, Texas. 1 Cove Capital Investments acquired the multi-tenant flex-industrial and mixed-use center, and Connect Money reported the purchase complete as of April 30, 2024. 3 The sponsor says the property was bought below replacement cost. 4 No purchase price has been disclosed in any reviewed source.

Reported location
Fulshear, TX
Property size
83,669 square foot

How was it financed, and what did it cost to sell?

There is no mortgage and no lender on this property — Cove structured the Trust debt-free, which removes refinancing and foreclosure risk while leaving no borrowed money to magnify outcomes in either direction. 8

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
$1,391,192 · 6.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$2,354,922 · 10.1% of offering
Form D Item 16
· The filing’s note: “Mr. Kay & Lapin will receive a portion of this amount (in)directly for various fees and selling commissions, EXCLUDING amounts received for sales in the state of OR. 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

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
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.

What does the SEC record show?

Cove filed one Form D for this Trust, a new-notice filing under Rule 506(c) — the exemption that lets an issuer advertise publicly but sell only to investors whose accredited status is verified. 2 It was filed before the first sale and never amended, so EDGAR never recorded how the raise progressed. 2

Legal Trust name
Rogers Business Park Opportunity 73 DST
SEC CIK
2017527
First Form D
Apr 2, 2024
Latest Form D
Apr 2, 2024
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$23,186,525
$0
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

What happened to Cove Rogers Business Park 73 DST?
Cove Rogers Business Park 73 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Apr 2, 2024.
Does Cove Rogers Business Park 73 DST have a 721 UPREIT exit?
The record lists a possible 721 exit for Cove Rogers Business Park 73 DST. The offering documents set whether and when it could 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 is the minimum investment?
The sources disagree and Top1031 does not reconcile them. The April 2, 2024 Form D states a $1,000 minimum outside investment. Cove's own offering page for the Trust lists a $25,000 minimum and identifies the DST as 1031-exchange qualified. The offering documents control; a prospective buyer of a secondary interest would confirm terms there.
What does a debt-free DST mean for me as an investor?
It means the trust owns the property outright with no mortgage. There is no lender, no loan covenants, no refinancing deadline and no risk of foreclosure wiping out equity. It also means an investor whose relinquished property carried debt may need another way to satisfy the 1031 requirement to replace that debt — often additional cash — since this Trust supplies no replacement mortgage.
Where exactly is the property?
At Rogers Road and FM 359, just north of downtown Fulshear, Texas, in the Houston metropolitan area. Cove's marketing materials describe the site as roughly one mile from seven master-planned communities slated to deliver more than 9,000 new homes.

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.