Tractor Supply Quinlan TX
Net lease property in Quinlan, TX · sponsored by Cove Capital Investments
Tractor Supply Quinlan TX was a DST sponsored by Cove Capital Investments that owned a net lease property in Quinlan, TX. Its last Form D was filed Jul 19, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Jul 19, 2024.
Cove Capital Investments has 18 active offerings on record →
Key facts
- Minimum investment
- $1,000From the Form D
- Offering size
- $6,420,509Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Jul 19, 2024)Form D, Jul 19, 2024
- Selling commissions
- Form D Item 15; the % is our arithmetic$160,513 · 2.5% 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 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Tractor Supply Quinlan TX. Top1031 is not a broker-dealer.What did Tractor Supply Quinlan TX own?
The building is a Tractor Supply store completed in 2023 in Quinlan, Texas, within the greater Dallas–Fort Worth market. 1 Cove Capital Investments purchased it in 2024 and used it to seed this Trust. 2 Neither the SEC filing nor the sources reviewed gives a street address or a square footage for the site.
- Reported location
- Quinlan, TX
- Property size
- single-tenant building
Tenant and lease terms are not in the SEC filings or cited sources.
How was it financed, and what did it cost to sell?
The Trust owns the store outright, with no mortgage against it. 2 That means no lender, no loan maturity to refinance, and no possibility of a foreclosure wiping out investors' equity — and no borrowed money magnifying outcomes in either direction.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $160,513 · 2.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $355,584 · 5.5% of offeringForm D Item 16· The filing’s note: “Mr. Kay & Lapin will receive a portion of this amount (in)directly for various fees and selling commissions, EXCLUDING amounts received from the state of OR. 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 Tractor Supply Quinlan TX?
Cove Capital Investments sponsors 1031 exchange DSTs, and its platform is built around debt-free, all-cash offerings like this one. Founders Dwight Kay and Chay Lapin announced the Quinlan acquisition in the firm's own release dated August 29, 2024. Trade outlets including Connect Money and AltsWire covered the purchase the same day.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed one Form D — the brief SEC notice an issuer files when selling securities under a private-placement exemption — and has not amended it since. Rule 506(c) lets the sponsor advertise the offering publicly but requires it to verify that every buyer is an accredited investor.
- Legal Trust name
- TRACTOR NET LEASE 79 DST
- SEC CIK
- 2030056
- First Form D
- Jul 19, 2024
- Latest Form D
- Jul 19, 2024
- 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 | $6,420,509 | $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
- What happened to Tractor Supply Quinlan TX?
- Tractor Supply Quinlan TX is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Jul 19, 2024.
- Who is the tenant, and what kind of lease is in place?
- The single-tenant building is 100% leased to Tractor Supply Company, the NASDAQ-listed farm and ranch retailer, with the lease guaranteed by the corporate parent rather than a franchisee. Trade coverage of the acquisition describes a 15-year corporate net lease with multiple extension options and rent increases every five years during both the primary term and the options.
- What does a debt-free DST mean for a 1031 exchange?
- The Trust holds the property with no mortgage, so investors take on no share of loan debt and there is no lender that could foreclose. Exchangers who had debt on their relinquished property generally need to replace that value some other way; how that works in your case is a question for your tax adviser.
- Does this Trust have a 721/UPREIT exit?
- The record shows no provision for converting investor interests into operating-partnership units of a REIT — the structure often called a 721 exchange or UPREIT. This is a straightforward single-property DST holding one net-leased building.
- Why do sponsors emphasize the Texas location?
- The property sits in Quinlan, Texas, and Texas levies no personal state income tax, so investors are not exposed to a state-level income tax filing obligation on the property's income in the state where the asset sits. Your own state of residence may still tax that income.
- What is not established in the public record?
- The Form D and the sources reviewed do not give a street address, the building's square footage, the lease commencement date, or the acquisition price. The Trust has filed no amendment reporting how the offering closed, and no sale, refinancing, or tenant event has been reported since the July 19, 2024 filing.
In the news
Sources
Show sources (3)Hide sources (3)
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.