Southfield Corporate 118 DST
Office in Southfield, MI — sponsored by Cove Capital Investments
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.
What is this, in one paragraph?
Southfield Corporate 118 DST is a Delaware statutory trust — a passive co-ownership structure whose interests can serve as 1031 exchange replacement property — sponsored by Cove Capital Investments. It owns a 64,607-square-foot corporate headquarters building in Southfield, Michigan, which the sponsor reported buying debt-free from a distressed seller.2 The Trust is raising equity from accredited investors, those meeting SEC income or net-worth tests.
Minimum investment
$1k
Offering size
$11.0M
How much has sold
11.0%
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?
Cove Capital Investments announced on August 5, 2026 that it had completed the purchase of a 64,607-square-foot, three-story corporate headquarters building in Southfield, Michigan, buying it debt-free from a distressed seller and, the sponsor said, below current replacement cost.2 That closing finalized the Trust's formation.2 The Form D discloses no property address, listing only the issuer's Torrance, California mailing address.
- Reported location
- Southfield, MI
Who is the tenant, and what's the lease?
Cove Capital's August 5, 2026 release described the building as fully leased to an unnamed global industrial company with annual revenue above $10 billion and operations in more than 40 countries, which occupies it as its North American headquarters.2 A marketplace listing names that tenant as ThyssenKrupp; no reviewed record states the lease structure or remaining term.3
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
- Reported unsold
- $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. On July 17, 2026 the firm published portfolio statistics of $1,133,765,047 across 137 properties and 2,768 investors.4 Those figures predate the August 2026 announcement of this Trust's property closing.2
- 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?
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, a total offering amount of $11,039,877, and a $1,000 minimum investment accepted from an outside investor.1 The exemption claimed permits general advertising but requires the issuer to verify that every purchaser is accredited.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- SOUTHFIELD CORPORATE 118 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 Southfield Corporate 118 DST still raising money?
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 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, three-story corporate headquarters building in Southfield, Michigan. Cove Capital Investments announced on August 5, 2026 that it had completed an all-cash, debt-free purchase from a distressed seller, and that the closing finalized the Trust's formation. The Form D itself discloses no property address, listing only the issuer's Torrance, California mailing address, and no reviewed public record establishes the building's street address.
Who is the tenant?
Cove Capital Investments' August 5, 2026 announcement does not name the tenant, describing it only as a global industrial company with annual revenue exceeding $10 billion and operations in more than 40 countries that occupies the building as its North American headquarters. A 1031 marketplace listing for this Trust identifies the tenant as ThyssenKrupp, but that identification appears in offering-page marketing material rather than in the SEC filing or the sponsor's own release. Tenant credit, any parent guaranty and the rent structure are described in the private placement memorandum (PPM), the offering's governing disclosure document.
How long is the lease, and is it triple-net?
Not established by any public record reviewed. The sponsor's announcement confirms the building is fully leased but does not state the lease structure — such as whether it is triple-net, with the tenant paying taxes, insurance and maintenance — nor its expiration date or remaining term. The Form D discloses none of it. Ask for the lease abstract in the PPM before relying on any lease term quoted elsewhere.
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 investment?
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. The offering is made under Rule 506(c), the private-placement exemption that permits general advertising but requires the issuer to verify that every purchaser is accredited.
Could this Trust roll into a REIT later?
The record for this Trust shows no REIT conversion feature. Some DSTs are structured with a 721/UPREIT exit, in which investors exchange their property interest for operating-partnership units in a REIT at the end of the hold; nothing in the Form D or the sponsor's August 5, 2026 announcement describes that path here. Exit options are set out in the PPM and the trust agreement.
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.