Cove Eastwood Village Opportunity 71 DST
Birmingham, AL
| Asset Class: | Multi-Tenant |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Birmingham, AL |
| Minimum Investment: | $25,000 |
| Current Distribution: | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Eastwood Village Opportunity 71 DST is a 130,056 square foot all-cash/debt-free, multi-tenant retail center in a dense and affluent submarket of Birmingham, AL. The sponsor intends to implement a value-add strategy by renewing and extending leases, increasing property curb appeal through various property level upgrades as well as the sponsor believes the property to be an opportunistic acquisition for investors due to the favorable purchase cap rate and cost per square foot. The property is shadow anchored by a high performing Walmart and is adjacent to a brand-new Amazon Distribution Facility. Eastwood Village is positioned just off the intersection of I-20 & Crestwood Blvd (SR-78), which sees a combined 78,000+ vehicles per day. The center boasts a 96% occupancy rate and is the #1 community shopping center in the market. The area has a 5-mile population of 116,944 and an average household income of $106,636.
MSA Details
The astonishing pace of Birmingham’s growth last century, earned the city its nicknames The Magic City and The Pittsburgh of the South. Today Birmingham ranks as one of the most important business and banking centers in the Southeastern U.S. and is home to Regions Financial and BBVA Compass and major auto manufacturers such as Honda, Hyundai, and Mercedes Benz. Birmingham is the cultural and entertainment capital of Alabama and hosts numerous cultural festivals showcasing music, as well as the Sidewalk Moving Picture Festival which brings filmmakers from all over the world to the city. Birmingham is a major city for higher education and home to University of Alabama at Birmingham, Samford University, Birmingham- Southern College, and Miles College. Birmingham is also the headquarters of the Southwestern Athletic Conference and the Southeastern Conference, one of the major U.S. collegiate athletic conferences.
Property Highlights
- 3.4M annual visits, it is the #1 community shopping center in the market
- Many of the tenants rank within the top percentile within their respective chains and are top performers
- Eastwood Village is stabilized at 96% occupancy and includes national tenants such as Ross, Five Below, Office Depot, Michael’s, Party City, and more
- Eastwood Village benefits from being shadow anchored by a high performing Walmart Supercenter and an array of outparcels that include tenants such as Chick-Fil-A, Starbucks, Wells Fargo, Walgreens, Regions Bank, Pep Boys, PC Bank, Waffle House, and more
Source: Brochure
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
