General Time Industrial Park Opportunity 84 DST
Multi-tenant industrial property in Athens, GA · sponsored by Cove Capital Investments
General Time Industrial Park Opportunity 84 DST was a DST sponsored by Cove Capital Investments that owned a multi-tenant industrial property in Athens, GA (113,157 SF). Its last Form D was filed Oct 18, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Oct 18, 2024.
Cove Capital Investments has 18 active offerings on record →
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $16,527,966Equity offered, per the Form D
- Sold
- 15.0%Form D, Oct 18, 2024; the % is our arithmetic
- Investors reported
- Form D, Oct 18, 20248
- Selling commissions
- Form D Item 15; the % is our arithmetic$991,678 · 6.0% 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: General Time Industrial Park Opportunity 84 DST. Top1031 is not a broker-dealer.General Time Industrial Park Opportunity 84 DST · Athens, GA · Photo: mma.prnewswire.com
What did the Trust own?
Cove Capital Investments acquired this multi-tenant industrial building for the Trust and announced the purchase on October 31, 2024. It sits inside the 35-acre General Time mixed-use development in Athens, Georgia, roughly 70 miles northeast of Atlanta. The sponsor describes the building as fully occupied and as having been purchased below replacement cost. 1
- Reported location
- Athens, GA
- Property size
- 113,157 SF
How was it financed, and what did it cost to sell?
Cove Capital structured this Trust without mortgage financing, so there is no lender, no loan maturity that could force a sale, and no refinancing to negotiate. An exchanger who carried debt on a relinquished property would need to replace that debt outside the Trust.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $991,678 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,727,985 · 10.4% of offeringForm 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 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
- FNEX Capital, LLC · CRD 166316
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Oct 9, 2024
- 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 the Trust?
Cove Capital Investments, whose principals Dwight Kay and Chay Lapin announced the Athens acquisition, builds debt-free Delaware Statutory Trusts for 1031 exchange investors and has sponsored dozens of them. FNEX Capital acted as the broker-dealer selling interests in this Trust. Cove announced on June 11, 2025 that the offering was fully subscribed, with total equity raised of $16,527,966.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust has a single Form D on record and no amendments since. It was offered under Rule 506(c), which permits public advertising of a private placement but requires the sponsor to verify that every buyer is an accredited investor. FNEX LLC appears on the filing as administrator while Cove Capital operates the Trust.
- Legal Trust name
- General Time Industrial Park Opportunity 84 DST
- SEC CIK
- 2041101
- First Form D
- Oct 18, 2024
- Latest Form D
- Oct 18, 2024
- 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 | $16,527,966 | $2,493,184 | 8 | 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 General Time Industrial Park Opportunity 84 DST?
- General Time Industrial Park Opportunity 84 DST is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Oct 18, 2024.
- Why does the SEC filing show so little of the offering sold?
- The Trust's only Form D was filed October 18, 2024, days into the raise, and it reports the amounts sold as of that date.
- Who occupies the building?
- Two tenants: Terrapin Beer Company, which the sponsor identifies as a Molson Coors subsidiary, and Wayfair LLC. Cove describes the building as 100% occupied and both leases as long-term triple-net, meaning the tenants pay property taxes, insurance and maintenance directly.
- What does a debt-free DST mean for a 1031 exchange?
- The Trust owns the property outright with no mortgage, so investors face no lender, no loan maturity and no refinancing risk. The tradeoff is that an exchanger replacing a mortgaged property cannot use this Trust to cover the debt portion of the exchange requirement without replacing that debt elsewhere.
- What was the minimum investment?
- Cove Capital's offering materials state a $25,000 minimum. The Form D filed with the SEC reports a $1,000 minimum outside investment accepted, a separate figure that reflects what the issuer disclosed on the form rather than the marketed subscription minimum.
- Does this Trust convert into a REIT?
- The record shows no 721/UPREIT feature — the structure by which some sponsors let DST investors swap their interests for operating-partnership units in a REIT at exit. This Trust is not marked as convertible, so exit terms would follow whatever the offering documents provide.
In the news
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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.