Southfield Corporate 118 DST
Office property in Southfield, MI · sponsored by Cove Capital Investments
Active offeringLatest Form D filed Jul 15, 2026 (opens in a new tab)
Southfield Corporate 118 DST is a DST sponsored by Cove Capital Investments that owns an office property in Southfield, MI. Its latest Form D, filed Jul 15, 2026, lists a $11 million offering with a $1,000 minimum.
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $11,039,877Equity offered, per the Form D
- Sold so far
- Form D, Jul 15, 2026; the % is our arithmetic11.1%
- Investors reported
- Form D, Jul 15, 20269
- Selling commissions
- Form D Item 15; the % is our arithmetic$662,393 · 6.0% 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 →
Sales so far
- Latest Form D
- Jul 15, 2026 · 1 filing
- First sale
- Jun 15, 2026
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $1,232,323
- Not yet sold
- $9,807,554
- Investors
- 9
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
11.1% of $11,039,877 sold, calculated by Top1031 from the Form D
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Ask a 1031 specialist about this recordFree. About: Southfield Corporate 118 DST. Top1031 is not a broker-dealer.No photo on record.
What does Southfield Corporate 118 DST own?
Cove Capital Investments announced on August 5, 2026 that it had completed the purchase of a 64,607-square-foot, three-story Class A corporate headquarters building in Southfield, Michigan, and that the closing finalized the Trust's formation; it did not state the closing date. 2 The same announcement described planned improvements to the building, none reported as finished. The Form D discloses no property address.
- Reported location
- Southfield, MI
How have sales gone?
The Form D record has one sales figure so far, so there is no trend to chart. The figure is in Sales so far ↑.
How is it financed, and what did it cost to sell?
No mortgage sits behind this Trust: there is no loan to refinance, no maturity to extend and no lender able to foreclose. An exchanger who carried debt on a relinquished property will find none to assume here, which is a question for their own tax adviser.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $662,393 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,216,608 · 11.0% of offeringForm D Item 16· The filing’s note: “Mr 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
- Jun 15, 2026
- 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 Southfield Corporate 118 DST?
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 this offering's related persons. 1 On July 17, 2026 the firm published portfolio statistics of $1,133,765,047 across 137 properties and 2,768 investors. Those figures predate its August 5, 2026 announcement that this Trust's building had closed. 2
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- SOUTHFIELD CORPORATE 118 DST
- SEC CIK
- 2142928
- First Form D
- Jul 15, 2026
- Latest Form D
- Jul 15, 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $11,039,877 | $1,232,323 | 9 | 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
- Is Southfield Corporate 118 DST an active offering?
- Southfield Corporate 118 DST is an Active offering: its latest Form D was filed Jul 15, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What does Southfield Corporate 118 DST own?
- A 64,607-square-foot, three-story Class A corporate headquarters building in Southfield, Michigan. Cove Capital Investments announced on August 5, 2026 that it had completed an all-cash, debt-free purchase of the building and that the closing finalized the Trust's formation, without specifying the closing date. The sponsor also described planned improvements to the building and has not reported them as completed. The Form D 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?
- The sponsor has not named the tenant publicly. Cove Capital Investments' August 5, 2026 announcement says only that the headquarters building is fully leased. A third-party marketplace listing for this Trust identifies ThyssenKrupp as the 100% tenant and occupant, information that platform says is supplied by the sponsor or issuer; the name appears in neither the Form D nor the sponsor's announcement. Tenant identity, the exact legal entity on the lease, its credit and any parent guaranty are set out in the offering documents.
- How long is the lease, and is it triple-net?
- The marketplace listing for this Trust describes a long-term lease with approximately five years remaining, but it does not give an expiration date or say as of when that estimate was made. Neither the Form D nor the sponsor's announcement states the lease term or whether it is triple-net — a structure in which the tenant pays taxes, insurance and maintenance. Ask for the lease abstract in the offering documents before relying on any 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 offering documents control the minimum actually applied to new subscriptions.
- What does a Rule 506(c) offering mean for me?
- Rule 506(c) is a private-placement exemption that lets the issuer advertise the offering publicly, but it requires the issuer to verify that every purchaser is an accredited investor — someone meeting the SEC's income or net-worth tests. In practice that means documentation such as tax returns, brokerage statements or a letter from your CPA or attorney, rather than a self-certification checkbox.
In the news
Sources
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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.