Cove Florida Net Lease 72 DST
Hollywood (Miami), FL
|Single Tenant Net Lease
|0% - All-Cash/Debt-Free
|Hollywood (Miami), FL
|1031 Exchange Qualified:
Florida Net Lease 72 DST is a recently renovated (2023) property with a 20-year NNN lease to Guidepost Montessori and has a full corporate guaranty from Guidepost’s parent company, Higher Ground Education. Higher Ground Education has doubled revenue each year since 2016, paid full rent for all of its Schools throughout the pandemic, and has seen enrollments double since 2020. The Property is located in Hollywood, FL which is part of the Miami MSA, is in proximity to schools, golf clubs, medical centers, residential, and national brands include Publix, Harbor Freight, Burger King, O'Reilly, and more.
The city of Hollywood is a beach-front community located in southeastern Broward County, midway between Miami and Fort Lauderdale. Hollywood is approximately 30 square-miles in size and is Broward’s third-largest municipality with a population of roughly 153,000 residents. Hollywood is home to 32 public and charter elementary, middle and high schools. Students take advantage of the wide range of award-winning magnet programs including S.T.E.M., the Cambridge Advanced International Certificate (AICE), Communication and Broadcasting, Military Academy, Health and Wellness, Montessori and several others. All public schools located within the city of Hollywood are operated by the School Board of Broward County. Hollywood also has 13 private schools and a number of career schools. Nationally renowned higher learning institutions such as Barry University, Nova Southeastern University and City College have research and educational facilities in Hollywood. Hollywood has steadily grown into a dynamic business hub with more than 10,000 companies in the city. Approximately 80 percent of Port Everglades, the world’s second-busiest cruise port, is located in Hollywood and the port is home to Royal Caribbean’s Allure of the Seas and Oasis of the Seas, the largest cruise liners in the world. Hollywood also provides easy access to Fort Lauderdale/Hollywood International Airport and Miami International Airport, a major gateway to Latin America. Hollywood is also home to the Memorial Healthcare System, the nation's fifth-largest healthcare network, its flagship hospital, Memorial Regional, and the Joe DiMaggio Children's Hospital, the largest free-standing children's healthcare facility in Broward County.
- Florida is an Income-Tax Free State
- Guidepost Montessori is the largest corporate Montessori school operator in the U.S. with 120+ locations nationally and globally
- $3.8 million in improvements underway- tenant is currently paying rent
- Full corporate guaranty for the duration of the lease from Higher Ground Education (Parent Company of Guidepost Montessori)
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.