Cove Capital Investments completed the purchase of The Peanut Factory Lofts, a multifamily asset in downtown San Antonio, Texas.
The acquisition will establish the Cove Capital San Antonio Multifamily 74 DST, a Regulation D, Rule 506(c) offering that aims to raise $18,679,418.00 in equity.
According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, this unique asset was an all-cash acquisition and is considered a high quality addition to the firm’s growing portfolio of debt-free Delaware Statutory Trust real estate assets for 1031 exchange and direct cash investors.
Cove Capital immediately inserted its property management team with over 40 years of experience to oversee the day-to-day management of the asset. This property management team physically lives in San Antonio, ensuring a thorough understanding of the market dynamics and providing true boots and eyes on the ground.
In addition to the investment fundamentals of the San Antonio Multifamily 74 DST, several architectural aspects make this property a unique addition to the Cove Capital Investments portfolio.
This latest Cove Capital acquisition also offers a host of premium amenities, including private garages, a coffee bar, a courtyard, door-to-door trash pick-up, a dog park, a fitness center, and a resort-style pool with cabana.
