Houston Small Bay 122 DST
Industrial (small bay flex) property — sponsored by Cove Capital Investments
No public property or marketing name, address, size, exact-property image, or dated non-filing news was located for Houston Small Bay 122 DST as of 2026-08-06; the stated industrial (small bay flex) asset type is from the input.
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These links support the public record as a whole; individual details may come from different sources.
Location not on recordThe SEC filings for this offering do not give a property address. The filing history below is the current public record.
What is this, in one paragraph?
Houston Small Bay 122 DST is a Delaware statutory trust — a structure that lets 1031 exchange buyers hold fractional real estate interests as replacement property. Cove Capital Investments is named as promoter in its only SEC filing, a Form D dated July 21, 2026.1 The asset type on record is small-bay flex industrial; no filing names buildings, address, or tenants. Sponsor-reported data lists the offering as fully subscribed.
Minimum investment
$1k
Offering size
$13.5M
How much has sold
None sold yet
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
Nothing in the public record identifies the buildings behind this Trust: the July 21, 2026 Form D names no property, address, or square footage.1 The trust name references Houston, but no sponsor marketing page, property name, or news report locating the asset had been found as of September 3, 2026, and building count and rentable area remain unresolved. The recorded asset type is small-bay flex industrial — multi-tenant buildings divided into small units.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
The sponsor reported this offering sold out without filing per-sale amendments, so there is no raise history to show.
How is it financed, and what does it pay?
The Trust is presented as owning its real estate outright — no lender, no loan covenants, no maturity to refinance or extend. The Form D discloses offering mechanics only and states no debt terms, so that characterization traces to sponsor-supplied data.1 An exchanger who carried a mortgage on the relinquished property gets no replacement debt here.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
Cove Capital Investments is named as the offering's promoter in the Form D, which lists Dwight Kay and Chay Lapin as executive officers and managers.1 The firm sponsors 1031 exchange DST offerings, generally structured without mortgage debt, and has brought other small-bay industrial trusts to market. Cove announced on May 1, 2026 that a separate offering, Ponder Small Bay Industrial 101 DST — a 19-building flex park in Ponder, Texas — was fully subscribed after raising $18,695,430.
- Sponsor
- Cove Capital Investments
- May convert to a REIT
- No
- Offerings from this sponsor
- 24 active / 58 total offerings from Cove Capital Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
No amendment has followed the initial filing, so the SEC record is a single snapshot taken at launch, and subscription activity can move well ahead of it. Because the Trust may be generally advertised, the sponsor must document each buyer's accredited status rather than accept a checked box. The filing reports $809,138 in sales commissions.1
- Form D filedFirst and latest filing on record.
- Legal Trust name
- Houston Small Bay 122 DST
- 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
Is Houston Small Bay 122 DST still raising money?
Sold out: the source record identifies this offering as Fully Subscribed. The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
Where does Top1031 get the data for Houston Small Bay 122 DST?
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.
What property does Houston Small Bay 122 DST actually own?
The public record does not say. The Form D filed July 21, 2026 names no property, address, or square footage, and as of September 3, 2026 no sponsor marketing page or news report identifying the buildings had been located. The trust name references Houston, but no source confirms a location, building count, tenant roster, or purchase price. The asset type on record is small-bay flex industrial. The Private Placement Memorandum — the offering's full disclosure document — is the only place these facts will be settled.
Is the offering still open?
Sponsor-reported data lists the Trust as fully subscribed. That status is not corroborated by any SEC amendment: the only filing on record is the July 21, 2026 Form D, a point-in-time snapshot taken at launch that changes only if the issuer files an amendment, and none had been filed as of September 3, 2026. Confirm current availability directly with the sponsor or your registered representative before naming this Trust as replacement property.
What does a debt-free DST mean for my 1031 exchange?
The Trust is reported to hold its property without a mortgage, so there is no lender, no loan maturity, and no property-level refinancing risk. But 1031 rules require you to replace both equity and debt. If your relinquished property carried a loan, a trust with no debt supplies no replacement debt, so you would need additional equity or another replacement property to cover it. Confirm the arithmetic with your own tax adviser.
Who is behind this Trust?
The July 21, 2026 Form D names Cove Capital Investments, LLC as promoter and lists Dwight Kay and Chay Lapin as executive officers and managers. Cove sponsors 1031 exchange DST offerings, generally without mortgage debt, and has brought other small-bay industrial trusts to market — it announced on May 1, 2026 that its Ponder Small Bay Industrial 101 DST, a 19-building flex park in Ponder, Texas, was fully subscribed after raising $18,695,430. Officer disclosures and track record are set out in the PPM and the sponsor's own materials.
What does Rule 506(c) mean here?
Rule 506(c) is a private-placement exemption that lets a sponsor advertise an offering publicly, including on its website and in press releases. In exchange, the sponsor must take reasonable steps to verify that every buyer is an accredited investor — meeting the SEC's income or net-worth tests — typically through tax returns, brokerage statements, or a letter from a CPA or attorney, rather than accepting a self-certification.
What is a DST, and why do 1031 investors use one?
A Delaware statutory trust holds title to real estate and sells beneficial interests to accredited investors. The IRS treats those interests as direct property ownership for exchange purposes, so they can serve as replacement property in a 1031 exchange. Investors are passive: the sponsor controls leasing, financing, and any eventual sale, and interests are generally illiquid until the trust disposes of the property. The stated minimum investment for this Trust is $1,000.
Chapter 8Cove Capital Investments Fully Subscribes Its Debt-Free Ponder Small Bay Industrial 101 Delaware Statutory Trust OfferingThe syndicated release reported that the Ponder Small Bay Industrial 101 DST was fully subscribed after raising $18,695,430 in equity. Cove Capital Investments, LLC Fully Subscribes Debt-Free Ponder Small Bay Industrial 101 DST OfferingCove Capital announced that the Ponder Small Bay Industrial 101 DST was fully subscribed after raising $18,695,430 in equity from investors.