Guidepost Montessori at Castle Hills (Lewisville, TX)
Net lease property in Lewisville, TX · sponsored by Cove Capital Investments
Guidepost Montessori at Castle Hills (Lewisville, TX) was a DST sponsored by Cove Capital Investments that owned a net lease property in Lewisville, TX (16,297 sq ft). Its last Form D was filed May 5, 2023.
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, 2023.
Cove Capital Investments has 18 active offerings on record →
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $10,444,211Equity offered, per the Form D
- Sold
- 36.4%Form D, May 5, 2023; the % is our arithmetic
- Investors reported
- Form D, May 5, 202314
- Selling commissions
- Form D Item 15; the % is our arithmetic$522,211 · 5.0% 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 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Guidepost Montessori at Castle Hills (Lewisville, TX). Top1031 is not a broker-dealer.What did the Trust own?
The Trust's single asset is the Guidepost Montessori at Castle Hills school building at 4660 FM 2281 in Lewisville, Texas. 2 Cove Capital took it on as a stand-alone, net-leased early-childhood school and filed its Form D shortly after the first sale of interests. Neither the filing nor the sponsor's announcements disclose the closing date or purchase price, so the public record establishes what the building is, not what it cost.
- Reported location
- Lewisville, TX
- Property size
- 16,297 sq ft
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
Cove structured this Trust without mortgage debt: no lender, no loan covenants, and no maturing balloon that could force a sale or refinancing at an inconvenient moment. The trade-off is that an exchanger who needs to replace debt from a relinquished property gets no leverage from this Trust.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $522,211 · 5.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,111,745 · 10.6% 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
- Apr 24, 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 the Trust?
Cove Capital Investments sponsors 1031 exchange DSTs and markets a debt-free approach, numbering its net lease trusts in a series — this one is Cove Texas Net Lease 63. On February 7, 2024 the sponsor announced the offering had been fully subscribed, reporting $10,444,211 of equity raised. 4 AltsWire covered the same full-subscription news on February 2, 2024. 3
- Sponsor
- Offerings on record
What does the SEC record show?
One Form D, never amended: the public filing still shows mid-raise figures dating from a first sale of interests on April 24, 2023, while Cove's own February 2024 announcement says the equity was fully placed. 1 Rule 506(c) let the sponsor advertise publicly, provided each investor's accredited status is verified rather than self-certified.
- Legal Trust name
- Cove Texas Net Lease 63 DST
- SEC CIK
- 1976631
- First Form D
- May 5, 2023
- Latest Form D
- May 5, 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 | $10,444,211 | $3,810,627 | 14 | 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 Guidepost Montessori at Castle Hills (Lewisville, TX)?
- Guidepost Montessori at Castle Hills (Lewisville, TX) is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed May 5, 2023.
- Who is the tenant?
- Guidepost Montessori, an early-childhood school operator, was reported by the sponsor's February 2024 announcement as the tenant of the 16,297-square-foot Lewisville, Texas building, under a new 20-year corporate net lease with 2% annual rent increases and a full corporate guarantee. The legal name of the guaranteeing corporate entity is not stated in the public materials Top1031 reviewed.
- Is there any sign the tenant has left the building?
- A commercial lease listing for 4660 FM 2281 dated July 17, 2026 described the space as available and referred to the site as a former Guidepost location. That listing is a third-party marketing page, not a filing or sponsor statement, and Top1031 found no SEC filing, sponsor release, or court record confirming a lease termination, a replacement tenant, or a sale of the property. Treat the current lease status as unresolved and verify it directly with the sponsor.
- What does "debt-free" mean for a 1031 exchanger here?
- The Trust holds the property with no mortgage on it, so there is no lender, no loan covenants, and no refinancing deadline at maturity. It also means the Trust generates no debt to replace: an exchanger whose relinquished property carried a mortgage generally needs debt or additional cash elsewhere in the exchange to avoid boot. That is a question for your CPA or exchange attorney.
- Could this Trust roll into a REIT?
- The Trust is not structured with a 721/UPREIT exit — the mechanism by which some DSTs contribute their property to a REIT's operating partnership in exchange for REIT units. Top1031's record marks no REIT conversion feature for this offering. Any exit path would be described in the Trust's offering documents.
- What is still unknown about this Trust?
- The acquisition closing date and purchase price, the named corporate guarantor on the lease, the property's current occupancy, and whether the Trust still owns the building are all absent from the public record Top1031 reviewed. Because only one Form D exists and DSTs file no ongoing SEC reports, post-2024 developments would come from the sponsor's investor communications rather than EDGAR.
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.