Guidepost Montessori at Castle Hills (Lewisville, TX)
Net lease property in Lewisville, TX — sponsored by Cove Capital Investments
Files with the SEC as Cove Texas Net Lease 63 DST
Minimum investment
$1k
Offering size
$10.4M
How much has sold
36.0%
Asset type
Net lease property
Location
Lewisville, TX
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Cove Texas Net Lease 63 DST is a Delaware statutory trust — a passive co-ownership vehicle that can serve as replacement property in a 1031 exchange — holding a single Guidepost Montessori school building in Lewisville, Texas. Cove Capital Investments offered it debt-free under Rule 506(c) and announced on February 7, 2024 that the raise was fully subscribed at $10,444,211 in equity.4
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
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
Who is the tenant, and what's the lease?
Guidepost Montessori occupies the entire building as the sole tenant.3 Cove reported a new 20-year corporate net lease with 2% annual rent increases and a full corporate guarantee — net lease meaning the tenant, not the Trust, carries property-level operating costs.3
How did it end?
No sale or other ending on record
Cove Capital announced on February 7, 2024 that the Cove Texas Net Lease 63 DST was fully subscribed with a brand-new 20-year corporate net lease in Lewisville, TX; no sale or full-cycle announcement has been issued, indicating the trust continues to hold and operate the property.
All-cash/debt-free Regulation D Rule 506(c) DST; tenant Guidepost Montessori (corporate net lease, 20-year initial term with annual rent escalations); 16,297 sq ft; total equity raised $10,444,211.
16,297 sq ftSupporting evidence
How is it financed, and what does it pay?
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.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
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
- Cove Capital Investments
- Legal Trust name
- Cove Texas Net Lease 63 DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 24 active / 57 total offerings from Cove Capital Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
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.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to Guidepost Montessori at Castle Hills (Lewisville, TX)?
Top1031 lists Guidepost Montessori at Castle Hills (Lewisville, TX) as historical. It is no longer raising money.
Where does Top1031 get the data for Guidepost Montessori at Castle Hills (Lewisville, TX)?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
No. Cove Capital Investments announced on February 7, 2024 that the Cove Texas Net Lease 63 DST offering was fully subscribed, and AltsWire reported the same on February 2, 2024. The Trust is closed to new investors; the only SEC filing on record is the original Form D from May 5, 2023, which was never amended to reflect the completed raise.
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 private placement memorandum, the offering document delivered to accredited investors.
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.
Chapter 9Cove Capital Announces Fully Subscribed DST in Lewisville, TXAltsWire reports Cove Capital's Cove Texas Net Lease 63 DST is fully subscribed; 16,297 sf single-tenant Guidepost Montessori in Lewisville TX.