Southfield Corporate 118 DST
Office in Southfield, MI — sponsored by Cove Capital Investments
Minimum investment
$1k
Offering size
$11.0M
How much has sold
11.0%
Asset type
Office
Location
Southfield, MI
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Southfield Corporate 118 DST is a Delaware statutory trust — a passive co-ownership vehicle whose interests can serve as 1031 exchange replacement property — sponsored by Cove Capital Investments. It owns a 64,607-square-foot Class A corporate headquarters in Southfield, Michigan, bought debt-free from a distressed seller.2 The Trust is raising equity from accredited investors, those meeting SEC income or net-worth tests.
No third-party trade-press or sponsor press release coverage located within the research window (May 2025–July 2026). The trust appears only on the SEC Form D filing (filed Jul 15, 2026) under CIK 2142928, with Cove Capital Investments, LLC as sponsor and Dwight Kay / Chay Lapin as related persons. The Form D street address (2958 Columbia Street, Torrance, CA 90503) is the issuer's mailing address/registered agent, not the property location. Because there is no public news coverage and the SEC filing does not disclose property city, size, or tenant, no address can be evidenced.
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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 Investments announced on August 5, 2026 that it had completed the purchase of a 64,607-square-foot Class A corporate headquarters in Southfield, Michigan, from a distressed seller, and said the closing finalized this Trust's formation.2 Neither the Form D nor any reviewed press account gives a street address; the filing lists only the issuer's Torrance, California mailing address.1 Year built, parcel details and site specifics do not appear in the public record.
- Reported location
- Southfield, MI
Who is the tenant, and what's the lease?
Cove Capital Investments reported the building is fully leased without naming a tenant or lease terms.2 Anchor1031, a DST marketplace, lists it as 100% leased to ThyssenKrupp as that company's North American headquarters — a third-party listing, not sponsor or SEC disclosure.3 Lease term, rent structure and any guaranty sit in the private placement memorandum (PPM).
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.
11.0% reported sold
- Amount sold
- $1,232,323
- Still available
- $9,807,554
- Investors reported
- 9
- Total offering
- $11,039,877
Not enough filings yet to show a trend.
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How is it financed, and what does it pay?
No mortgage sits behind this Trust — no loan to refinance, no maturity to extend, no lender able to foreclose. An exchanger who must replace debt carried on the property they sold will find none to inherit here, a point to work through with their own tax adviser.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
Cove Capital Investments sponsors DST offerings for 1031 exchange investors and files from a Torrance, California mailing address; the Form D names Dwight Kay and Chay Lapin as the related persons behind this offering.1 On July 17, 2026 the firm published portfolio statistics of $1,133,765,047 across 137 properties and 2,768 investors. Its August 5, 2026 release said the completed Southfield acquisition finalized this Trust's formation.2
- Sponsor
- Cove Capital Investments
- Legal Trust name
- SOUTHFIELD CORPORATE 118 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 SEC record here is a new-notice Form D rather than an amendment; it reports June 15, 2026 as the date of first sale and a $1,000 minimum investment accepted from an outside investor.1 The exemption claimed permits general advertising, but the issuer must verify each purchaser's accredited status.
- 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 Southfield Corporate 118 DST still raising money?
Top1031 lists Southfield Corporate 118 DST 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 Southfield Corporate 118 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 does Southfield Corporate 118 DST own?
A 64,607-square-foot Class A corporate headquarters building in Southfield, Michigan. Cove Capital Investments announced on August 5, 2026 that it had completed the purchase from a distressed seller and that the acquisition finalized the Trust's formation. The Form D discloses no street address, and no parcel record or photograph appears in the filings.
Who is the tenant?
Cove Capital Investments has not named it. The sponsor's August 5, 2026 announcement says only that the building is fully leased. Anchor1031, a DST marketplace, published a listing on August 30, 2026 describing the property as 100% leased to ThyssenKrupp as its North American headquarters — useful but third-party, not a sponsor or SEC disclosure. Tenant identity, credit, any guarantor, lease term and rent structure belong in the private placement memorandum (PPM), the offering's governing disclosure document.
Does the Trust have a mortgage?
No. Cove Capital Investments reported that it bought the Southfield building all-cash and debt-free, without outside financing. For an investor whose relinquished property carried a loan, a debt-free DST supplies no replacement debt, which can matter for meeting 1031 exchange requirements — a question for your own tax adviser.
How large is the offering, and what is the minimum?
The Form D filed July 15, 2026 reports a total offering amount of $11,039,877 in equity — the same figure Cove Capital Investments repeated in its August 2026 announcements — and a $1,000 minimum investment accepted from an outside investor. Progress against that amount appears in the sales detail on this page. The PPM controls the minimum actually applied to new subscriptions.
Can I invest if I am not an accredited investor?
No. The Trust is offered under Rule 506(c), an SEC exemption that permits general advertising but limits purchasers to accredited investors — those meeting income or net-worth tests — whose status the issuer must verify, typically through documents or third-party confirmation.
What does the Form D not disclose?
The July 15, 2026 Form D does not state the property's street address, the tenant, the lease term or expiration, the rent structure, or the purchase price. The 2958 Columbia Street, Torrance, California address on the filing is the issuer's mailing address, not the building. Those items are disclosed, if anywhere, in the PPM and the lease itself.
Chapter 9Cove Capital Investments Completes Acquisition of 64,000 SF Class A Corporate HeadquartersCove Capital Investments completed an all-cash, debt-free acquisition of a fully leased 64,000-square-foot Class A corporate headquarters in Southfield, Michigan, for its Southfield Corporate 118 DST offering targeting $11,039,877 in equity.