Top1031

Essential Net Lease Portfolio 89 DST

2 industrial properties in 2 states · sponsored by Cove Capital Investments

HistoricalLast Form D filed May 5, 2025 (opens in a new tab)

Essential Net Lease Portfolio 89 DST was a DST sponsored by Cove Capital Investments that owned 2 industrial properties in 2 states. Its last Form D was filed May 5, 2025.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed May 5, 2025.

Cove Capital Investments has 18 active offerings on record →

Key facts

Minimum investment
$1,000
From the Form D
Offering size
$13,517,400
Equity offered, per the Form D
Sold
9.2%
Form D, May 5, 2025; the % is our arithmetic
Investors reported
5
Form D, May 5, 2025
Selling commissions
$675,870 · 5.0% 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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Essential Net Lease Portfolio 89 DST image

Essential Net Lease Portfolio 89 DST · Photo: covecapitalinvestments.com

What did the Trust own?

Cove Essential Net Lease Portfolio 89 DST is a Delaware statutory trust sponsored by Cove Capital Investments. It holds two build-to-suit last-mile industrial distribution buildings totaling 68,967 square feet, whose acquisition the sponsor reported completing on May 8, 2025 in an all-cash, 100% debt-free transaction. The newly constructed Joplin, Missouri facility spans 63,000 square feet with 20 dock-high doors and is leased to Lowe's; a 2024-built North Carolina facility is leased to Frito-Lay under a long-term net lease with multiple renewal options. Cove reported both assets 100% leased with long-term leases in place. An issuer-filed Form D dated May 5, 2025 reported a $13,517,400 total offering amount.

Reported location
Multi-state (2)
Property size
2 properties totaling 68,967 Sq Ft

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

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
$675,870 · 5.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,241,011 · 9.1% 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 & 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

Individual representatives named in Item 12 are not listed.

Date of first sale
Apr 17, 2025
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?

Legal Trust name
Essential Net Lease Portfolio 89 DST
SEC CIK
2066460
First Form D
May 5, 2025
Latest Form D
May 5, 2025
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 soldInvestors
Form D$13,517,400
$1,246,365
5
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 Essential Net Lease Portfolio 89 DST?
Essential Net Lease Portfolio 89 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed May 5, 2025.
Does Essential Net Lease Portfolio 89 DST have a 721 UPREIT exit?
The record lists a possible 721 exit for Essential Net Lease Portfolio 89 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

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.