Top1031
Houston Small Bay 122 DST
Industrial property · sponsored by Cove Capital Investments
Houston Small Bay 122 DST is a DST sponsored by Cove Capital Investments that owns an industrial property. Its latest Form D, filed Jul 21, 2026, lists a $13.4 million offering with a $1,000 minimum.
Key facts
A free account shows how much of each active offering has sold and the Sponsor Grade letters.- Minimum investment
- $1,000From the Form D
- Offering size
- $13,485,652Equity offered, per the Form D
- Sold so far
- Not reported after the first Form D (Jul 21, 2026)Form D, Jul 21, 2026
- Selling commissions
- Form D Item 15; the % is our arithmetic$809,138 · 5.9% 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 →
Can I still invest?
A free account shows how much of each active offering has sold and the Sponsor Grade letters.No new interests: the offering is reported fully subscribed.
Other Cove Capital Investments offerings on record
- Essential Birmingham Industrial 129 DSTBirmingham, AL · $1,000 minimum · $11,333,949 offeringActive offering · latest Form D Oct 22, 2026
- Waynesboro VA ECOMMERCE 126 DSTWaynesboro, VA · $1,000 minimum · $13,552,181 offeringActive offering · latest Form D Sep 23, 2026
- Virginia Small Bay 121 DSTNewport News, VA · $1,000 minimum · $16,207,609 offeringActive offering · latest Form D Aug 28, 2026
- Essential Gurnee Industrial 123 DSTGurnee, IL · $1,000 minimum · $9,970,721 offeringActive offering · latest Form D Aug 19, 2026
Availability changes without a filing. The sponsor or a registered representative can confirm what is open.
Looking for an offering like this one? A licensed 1031 specialist from our affiliated partner can talk through what is on record.
Ask a 1031 specialist about this recordFree. About: Houston Small Bay 122 DST. Top1031 is not a broker-dealer.No photo on record. Location not stated in the SEC filings.
What does Houston Small Bay 122 DST own?
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 recorded asset type is small-bay flex industrial — multi-tenant buildings divided into small units. The Trust's name should not be read as establishing where any building sits; building count, tenants, and rentable area remain unresolved in the reviewed public sources.
How is it financed, and what did it cost to sell?
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 carrying a mortgage on the relinquished property gets no replacement debt here.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $809,138 · 5.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,402,852 · 10.4% of offeringForm D Item 16· The filing’s note: “Messrs. 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
- FNEX Capital, LLC · CRD 166316
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- 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 Houston Small Bay 122 DST?
Cove Capital Investments is named as the offering's promoter in the July 21, 2026 Form D. 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
- Offerings on record
What does the SEC record show?
Nothing has amended the launch filing, so the SEC record is still the snapshot taken at the offering's start, while subscription activity can move 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.
- Legal Trust name
- Houston Small Bay 122 DST
- SEC CIK
- 2145974
- First Form D
- Jul 21, 2026
- Latest Form D
- Jul 21, 2026
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $13,485,652 | $0 | 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
- Can I still invest in Houston Small Bay 122 DST?
- No new interests: Houston Small Bay 122 DST is reported fully subscribed. Top1031 lists it as recently fully subscribed and does not count it as an active 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 no marketing name, portfolio description, or property photograph for this Trust was located in public sources. The asset type on record is small-bay flex industrial — multi-tenant buildings divided into small units. Building count, tenant roster, occupancy, and purchase price are all unconfirmed. The offering documents are the only place these facts will be settled.
- 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 sponsor and promoter. Cove sponsors 1031 exchange DST offerings, generally structured 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 offering documents and the sponsor's own materials.
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.