nineteen-building flex industrial park
Industrial (small bay flex) property in Ponder, Texas — sponsored by Cove Capital Investments
Files with the SEC as Ponder Small Bay Industrial 101 DST
Minimum investment
$1k
Offering size
$18.7M
How much has sold
4.0%
Asset type
Industrial (small bay flex) property
Location
Ponder, Texas
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Ponder Small Bay Industrial 101 DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional real estate — sponsored by Cove Capital Investments.1 It owns a multi-tenant small-bay flex industrial park in Ponder, Texas, bought without mortgage debt; Cove announced the purchase complete on November 13, 2025.2 The sponsor reported the offering fully subscribed on May 22, 2026 after raising $18,695,430 in equity.3
Debt-free (0% LTV); min $100k; 100% occupied 9/15/25; fully subscribed per BusinessWire 5/2026
Show sources (6)Hide sources (6)
These links support the public record as a whole; 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?
Cove Capital announced on November 13, 2025 that it had completed the purchase of the small-bay industrial park, which completed formation of the Trust.2 The sponsor dates the buildings to 2018 and 2022/23 and describes the asset as a multi-tenant flex park within the Dallas–Fort Worth MSA.4 No street address appears in the SEC filing or the sponsor materials reviewed, and neither source discloses a purchase price or an exact closing date.
- Reported location
- Ponder, Texas
- Property size
- 115,650 Sq. Ft. of nineteen-building flex industrial park
Who is the tenant, and what's the lease?
No tenant names are public; Cove reported a diverse tenant mix with the park 100% occupied as of September 15, 2025.4 The sponsor describes an intended strategy of renewing and extending expiring leases, capturing mark-to-market rents, and converting gross leases — where the landlord absorbs taxes, insurance and maintenance — to triple-net.4
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.
4.0% reported sold
- Amount sold
- $811,004
- Still available
- $17,884,426
- Investors reported
- 6
- Total offering
- $18,695,430
Not enough filings yet to show a trend.
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
How is it financed, and what does it pay?
The park is held without a mortgage: no lender, no loan maturity to refinance, no debt-driven foreclosure exposure — and no replacement debt for an exchanger who paid off a mortgage on the relinquished property. Cove repeated that debt-free description when it announced full subscription on May 22, 2026.3
- Financing
- All cash. This offering reports no mortgage debt.
- Loan-to-value
- 0%prnewswire.com
Who's behind it?
The Form D names Cove Capital Investments, LLC as promoter and sponsor of this Delaware statutory trust.1 Cove runs a multi-offering 1031 program built largely around debt-free trusts, and this Trust follows that pattern. On July 16 and 17, 2026 the firm circulated portfolio-level milestone statistics covering the program as a whole, without naming individual trusts.
- Sponsor
- Cove Capital Investments
- Legal Trust name
- Ponder Small Bay Industrial 101 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?
The single Form D on record is an original notice rather than an amendment, so the sales figures it carries are an early snapshot rather than the capitalization Cove later announced.3 Rule 506(c) permits public advertising provided every buyer is a verified accredited investor — someone meeting SEC income or net-worth tests.
- 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
Is nineteen-building flex industrial park still raising money?
Top1031 lists nineteen-building flex industrial park as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for nineteen-building flex industrial park?
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.
Is this Trust still open to new investors?
Cove Capital announced on May 22, 2026 that the offering was fully subscribed after raising $18,695,430 in equity, and trade coverage in June and August 2026 repeated that. The only Form D on record was filed October 31, 2025 and captures an early point in the raise, so the SEC data predates the sponsor's closing announcement. Confirm current availability with the sponsor.
What does a debt-free DST mean for my 1031 exchange?
The Trust owns the property all-cash, with no mortgage. That removes lender risk, loan maturities and debt-driven foreclosure exposure, but it also means the DST carries no replacement debt. An exchanger who had a mortgage on the relinquished property and needs to replace that debt would have to address it elsewhere in the exchange. Ask your tax adviser how your debt profile fits.
What is a small-bay flex industrial park?
Small-bay flex describes industrial buildings divided into modest units that mix warehouse space with a small office or showroom area. Tenants tend to be local trades, contractors, distributors and service businesses. Income comes from many smaller leases rather than one credit tenant, which spreads tenant risk but requires continuous leasing and rolls more often.
Who are the tenants, and how old are the buildings?
No tenant names are public. Cove Capital reported a diverse tenant mix and stated the park was 100% occupied as of September 15, 2025, and the sponsor's offering page dates the buildings to 2018 and 2022/23. The rent roll, individual lease terms and expiration dates would appear in the Private Placement Memorandum — the offering document that discloses the deal's terms and risks.
Why does the minimum investment differ between sources?
The Form D reports a $1,000 minimum accepted from an outside investor, while Cove's marketing materials for this offering cite $100,000. The sources do not reconcile. Form D minimums are sometimes stated broadly; the binding figure is the one in the PPM and subscription agreement.
What has actually been filed with the SEC?
One Form D, filed October 31, 2025 under CIK 2090990. It is an original notice rather than an amendment, so the sales figures it carries are a point-in-time snapshot, not final capitalization. The completed raise is sponsor-reported and had not been recorded in an SEC amendment as of September 1, 2026.
Chapter 9Cove Capital Investments Fully Subscribes Its Debt-Free Cove Ponder Small Bay Industrial 101 DST OfferingCoverage of Cove Capital's fully-subscribed Ponder Small Bay Industrial 101 DST, a 19-building flex industrial park in Ponder, Texas. Cove Capital Investments, LLC Fully Subscribes Debt-Free Ponder Small Bay Industrial 101 DST OfferingAnnouncement that the Cove Ponder Small Bay Industrial 101 DST offering is fully subscribed after raising $18,695,430 in equity from investors. Cove Capital Investments, LLC Acquires 19-building Small Bay Industrial Property for Its Ponder Small Bay Industrial 101 DSTPR Newswire announces Cove Capital's acquisition of the 19-building small bay industrial park in Ponder, TX completing the formation of the Cove Ponder Small Bay Industrial 101 DST.