Published ✓Sponsor-published track-record coverage
Sponsor profile
SEC filings + cited sources
Cove Capital Investments is a Delaware Statutory Trust sponsor that structures debt-free, all-cash 1031 exchange offerings for accredited investors, with principals co-investing alongside them. As of June 2026 the firm reported roughly $1.08 billion sponsored across 132 properties in 36 states, covering more than 4 million square feet, and about $193 million returned to investors. Its portfolio concentrates on net-lease and small-bay industrial distribution, necessity and grocery-anchored retail, and multifamily assets across many states. Recent acquisitions span Kansas, Kentucky, Texas, and Alabama. Completed programs include the Airport Distribution 21 and Dulles Distribution trusts.
Platform and strategy
Cove Capital Investments is a Delaware Statutory Trust sponsor that structures debt-free, all-cash offerings for accredited investors pursuing 1031 exchanges and direct real estate investments 1. The firm acquires properties without mortgage financing, which it describes as giving each trust flexibility at exit without lender prepayment penalties or defeasance costs, and its principals co-invest alongside 1031 exchange investors in each offering 2. Top1031 tracks 93 Cove programs filed since 2018 3.
Portfolio scale
In a June 2026 milestone release, Cove reported roughly $1,083,087,573 in DST and real estate offerings sponsored across 132 properties in 36 states, covering 4,034,040 square feet, with about $193 million returned to investors and a reported 11.01% average annualized full-cycle return across completed transactions achieved without leverage 4.
Completed programs
Cove's Airport Distribution 21 DST, an all-cash distribution facility in Elk Grove Village, Illinois, produced a validated total return of 121.08% (12.37% annualized) at sale 5. The earlier Dulles Distribution DST, a Washington, D.C.-area logistics facility, sold in October 2022 for $8,150,000, a reported 126.44% total return (8.67% annualized) 6. Co-founder Dwight Kay reported that the Tacoma Data Center DST sold for $9,800,000 on behalf of its investor group 7.
Recent acquisitions
Recent debt-free acquisitions include Saddle Creek Crossing, a 110,061-square-foot necessity retail center in Wichita, Kansas, for Cove Kansas Retail DST 109 8; a Paducah, Kentucky logistics facility for Cove Essential Net Lease Industrial 116 DST 9; a Weatherford, Texas small-bay industrial property for the 107 DST 10; and a 72,013-square-foot grocery-anchored center at 500 US Highway 62 in Princeton, Kentucky for Cove Princeton KY Opportunity 117 DST 11.
Cove Net Lease Distribution 55 DST2023No public full-cycle announcement, sale press release, or disposition filing was found for Cove Net Lease Distribution 55 DST (CIK 1947151); only the original Form D offering filed in January 2023 and amendments appear on SEC EDGAR.covecapitalinvestment… ↗sec.gov ↗SEC ↗
Cove Net Lease Distribution 64 DST2023Cove Net Lease Distribution 64 DST (Pepsi distribution warehouse, Schuler Business Park, NY) remains listed on Cove Capital's current offerings page with no full-cycle sale announcement found in press releases, AltsWire, or sponsor news; Form D window ran Jan 2023 to Feb 2024 indicating recent funding.covecapitalinvestment… ↗covecapitalinvestment… ↗altswire.com ↗SEC ↗
Eastwood Village Opportunity 71 DST2024No full-cycle or disposition announcement has been issued; the offering remains listed on Cove Capital's website as 'fully subscribed' (multi-tenant retail center, Birmingham, AL, $22,798,024 raised as announced October 3, 2024) and is not included in Cove's published list of full-cycle events or its June 17, 2026 portfolio milestone press release; the February 6, 2024 $17.6M sale of an Eastwood Village retail center in Birmingham reported by Shopping Center Business was a separate, prior transaction between a Louisiana partnership and a different seller (not Cove).covecapitalinvestment… ↗prnewswire.com ↗covecapitalinvestment… ↗SEC ↗
Pearland Business Park Opportunity 76 DST2024No public full-cycle, sale, or 721 UPREIT announcement has been issued for Pearland Business Park Opportunity 76 DST; the trust remains listed on Cove Capital's website as 'fully subscribed' with a 'Monthly' distribution status, indicating it continues to own and operate the 39,597 sq ft mixed-use center in Pearland, TX.covecapitalinvestment… ↗altswire.com ↗sec.gov ↗SEC ↗
Florida Net Lease 72 DST2024No public full-cycle, sale, or 721 UPREIT announcement has been issued for Florida Net Lease 72 DST; the trust remains listed on Cove Capital's website as 'fully subscribed' with a 'Monthly' distribution status, indicating it continues to own and operate the Guidepost Montessori (Hollywood/Miami, FL) property.covecapitalinvestment… ↗altswire.com ↗sec.gov ↗SEC ↗
Rogers Business Park Opportunity 73 DST2024No public full-cycle, sale, or 721 UPREIT announcement has been issued for Rogers Business Park Opportunity 73 DST; the trust remains listed on Cove Capital's website as 'FULLY SUBSCRIBED' with a 'Monthly' distribution status, indicating it continues to own and operate the 83,669 sq ft multi-tenant flex industrial property in Fulshear, TX.covecapitalinvestment… ↗nerej.com ↗sec.gov ↗SEC ↗
Net Lease Industrial 77 DST2024No public full-cycle, sale, or 721 UPREIT announcement has been issued for Net Lease Industrial 77 DST; the trust remains listed on Cove Capital's website as 'fully subscribed' with a 'Monthly' distribution status, indicating it continues to own and operate the three-property FedEx Ground/Frito-Lay (TX & AR) portfolio.covecapitalinvestment… ↗prnewswire.com ↗sec.gov ↗SEC ↗
Essential Net Lease 81 DST2024No full-cycle or disposition announcement has been issued; the offering remains listed on Cove Capital's 'current offerings' page as 'fully subscribed' (Tractor Supply Company / Frito-Lay distribution / Sunbelt Rentals net lease portfolio in NC, GA, FL) and is not included in Cove's published list of full-cycle events or its June 17, 2026 portfolio milestone press release.covecapitalinvestment… ↗covecapitalinvestment… ↗prnewswire.com ↗SEC ↗
TRACTOR NET LEASE 79 DST2024Brand-new (2023-built) Tractor Supply store in Quinlan TX was acquired by Cove Capital as the property for this net-lease DST (target raise $6,420,509); no full-cycle/exit announcement has been published and Cove's most recent (Jun 17, 2026) portfolio milestone press release does not list this trust as completed, and the Tractor Supply store remains operating per the Tractor Supply store locator [4][5][3].covecapitalinvestment… ↗bluevaultpartners.com ↗prnewswire.com ↗SEC ↗
Northpark Shopping Center Opportunity 78 DST2024No public full-cycle, sale, or 721 UPREIT announcement has been issued for Northpark Shopping Center Opportunity 78 DST; the trust remains listed on Cove Capital's website as 'fully subscribed', and the July 2024 $7.1M sale of Northpark Shopping Center (Monticello, AR) by Marcus & Millichap was Cove Capital's acquisition INTO the trust, not an exit.covecapitalinvestment… ↗rebusinessonline.com ↗sec.gov ↗SEC ↗
San Antonio Multifamily 74 DST2024Property (Peanut Factory Lofts, 102-unit multifamily, downtown San Antonio) was acquired by Cove Capital on Sep 19, 2024 and the DST fully subscribed on May 30, 2025 with $18,679,418 in equity; no full-cycle/exit announcement has been published and Cove's most recent (Jun 17, 2026) portfolio milestone press release does not list this trust as completed, and the property remains an operating apartment community per its own website and Zillow/Yelp listings [1][2][3].covecapitalinvestment… ↗finance.yahoo.com ↗prnewswire.com ↗SEC ↗
Show all 41 tracked programs
Texas Small Bay 85 Flex DST202468,400 SF multi-tenant flex/industrial asset in San Antonio (Northwest submarket) was acquired by Cove Capital in Nov 2024 and placed into the Texas Small Bay 85 Flex DST (target raise ~$15.4M); no full-cycle/exit announcement has been published and Cove's most recent (Jun 17, 2026) portfolio milestone press release does not list this trust as completed [6][7][3].covecapitalinvestment… ↗prnewswire.com ↗prnewswire.com ↗SEC ↗
General Time Industrial Park Opportunity 84 DST2024No evidence of sale or full cycle; Cove Capital announced on Jun 11, 2025 that the General Time Industrial Park Opportunity 84 DST (113,157 SF multi-tenant industrial in Athens, GA) was fully subscribed at $16.5M and remained listed as a current offering on Cove Capital's website (PR Newswire, Jun 11, 2025).finance.yahoo.com ↗covecapitalinvestment… ↗sec.gov ↗SEC ↗
Texas Small Bay Industrial Portfolio 86 DST2025Two-property 100%-leased small-bay industrial portfolio (two recently built 2021 & 2023 buildings totaling ~69,000 SF) in the Houston, TX metro area was acquired by Cove Capital in April 2025 to finalize this DST (announced May 6, 2025); no full-cycle/exit announcement has been published and Cove's most recent (Jun 17, 2026) portfolio milestone press release does not list this trust as completed [8][9][3].covecapitalinvestment… ↗prnewswire.com ↗prnewswire.com ↗SEC ↗
Cove Essential Net Lease Industrial 93 DSTSponsor product page lists the Clinton, OK brand-new 2024 8,026 sq ft Frito-Lay distribution trust as fully subscribed, 0% leverage, $100K minimum, debt-free.
Top commercial sales of the week (June 15-21, 2026)Roundup of Northeast Florida commercial sales reports a 21,930-square-foot Tractor Supply Co. property at 542507 US Route 1, Callahan, FL sold for $7,306,000 to 'Callahan FL Tractor 124 DST' (Cove Capital Investments, LLC as DST sponsor), with a prior 2021 sale listed at $4,100,000.
