Cove Texas Net Lease 67 DST
in Mansfield and Hurst, TX · sponsored by Cove Capital Investments
Cove Texas Net Lease 67 DST, sponsored by Cove Capital Investments, filed its first Form D with the SEC on Jul 24, 2023 for a $21.4 million offering. Its last Form D was filed Jul 24, 2023.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jul 24, 2023.
Cove Capital Investments has 18 active offerings on record →
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $21,450,625Equity offered, per the Form D
- Sold
- 19.3%Form D, Jul 24, 2023; the % is our arithmetic
- Investors reported
- Form D, Jul 24, 202321
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,501,544 · 7.0% 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 →
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Ask a 1031 specialist about this recordFree. About: Cove Texas Net Lease 67 DST. Top1031 is not a broker-dealer.What did Cove Texas Net Lease 67 DST own?
The Trust holds two single-tenant net-lease buildings in Mansfield and Hurst, Texas, both inside the Dallas–Fort Worth Metroplex. 2 Cove Capital announced on August 17, 2023 that it had completed the purchase of both properties for this Trust. 2 Exact street addresses, building sizes, and construction dates do not appear in the public records reviewed for this profile.
- Reported location
- Mansfield and Hurst, TX
How was it financed, and what did it cost to sell?
Cove Capital bought both buildings debt-free, with no mortgage on the properties. 3 That means no lender, no loan maturity to refinance, and no foreclosure risk — and no borrowed money amplifying results in either direction.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $1,501,544 · 7.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,295,696 · 10.7% of offeringForm D Item 16· The filing’s note: “Dwight Kay and Chay Lapin will receive a portion of this amount directly, or indirectly, for various fees and selling commissions.”
- 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
- Jul 19, 2023
- 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 Cove Texas Net Lease 67 DST?
Cove Capital Investments sponsors a large family of Delaware Statutory Trusts, most of them structured without mortgage debt, and files from 2958 Columbia Street in Torrance, California. 1 The firm announced completion of this Trust's two-property acquisition on August 17, 2023. 2 In February 2024 it reported the offering fully subscribed. 4
- Sponsor
- Offerings on record
What does the SEC record show?
A single Form D — the short notice an issuer files with the SEC to claim a private-placement exemption — appears on the record, with no amendments since. 1 It was offered under Rule 506(c), which lets a sponsor advertise the offering publicly but requires every purchaser to be verified as an accredited investor.
- Legal Trust name
- Cove Texas Net Lease 67 DST
- SEC CIK
- 1986301
- First Form D
- Jul 24, 2023
- Latest Form D
- Jul 24, 2023
- 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 | $21,450,625 | $4,155,114 | 21 | 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 Texas Net Lease 67 DST?
- Cove Texas Net Lease 67 DST is a Historical offering. Last Form D filed Jul 24, 2023.
- What does a debt-free or 0% leverage DST actually mean here?
- It means the Trust bought its two Texas buildings with equity only — no mortgage encumbers the properties. There is no lender, no loan covenants, and no maturity date forcing a refinance or sale, so an investor's outcome depends on the leases and the eventual property values rather than on debt terms. Investors seeking to replace debt in a 1031 exchange should note that an all-cash Trust passes through no mortgage liability.
- Who is the tenant, and who stands behind the lease?
- The operator is Guidepost Montessori, an early-childhood education operator. Cove Capital's offering page states that Guidepost's parent company, High Ground Education, guarantees the lease for the full lease term, and the sponsor's acquisition release described both leases as new 20-year, corporately backed net leases.
- Where exactly are the two properties?
- Cove Capital's August 17, 2023 acquisition release named Mansfield and Hurst, Texas, both in the Dallas–Fort Worth Metroplex. One trade headline (AltsWire, February 2024) instead referenced Lewisville, Texas; the sponsor's own release is the more specific source. Street addresses and square footage were not disclosed in the records reviewed.
- Has the Trust sold the properties or gone full cycle?
- No outcome has been reported. No public full-cycle sale or disposition announcement for Cove Texas Net Lease 67 DST was found in the entity records reviewed, and the SEC file shows no filing after the July 24, 2023 Form D.
- Could this Trust convert into a REIT through a 721 exchange?
- The Top1031 record shows no 721/UPREIT feature for this Trust — that is, no disclosed mechanism to contribute the property to a REIT's operating partnership in exchange for REIT units. Any exit terms, including a sale, would be governed by 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.