Cove Parkdale Commons Opportunity 62 DST

Waco, TX

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Asset Class:Retail
Leverage:0% - All Cash/Debt-Free
Location(s):Waco, TX
Minimum Investment:$50,000
Current Distribution: Monthly/Inquire
Offering Type:DST
1031 Exchange Qualified:Yes

Property Description

Cove Parkdale Commons Opportunity 62 DST is an all-cash/debt-free 191,559 sq ft Hobby Lobby-anchored center with a diversified tenant base located in an income tax free state. 89% of potential revenue comes from national tenants including Hobby Lobby, dd’s Discounts, Drug Emporium, True Value, and 99¢ Only Stores. The center currently has 22,502 sq ft in vacancy which allows for meaningful upside potential that the sponsor intends to pursue. Rents are believed to be at or below market and leases are diversified and staggered, potentially minimizing volatility to investors returns. The center benefits from daily visibility of over 35,000 cars and is located within 6 miles of Baylor University, which is home to 19,300 full time students. Other major retailers nearby include Target, Walmart, Lowes, and H-E-B. The sponsor principals intend to co-invest alongside investors in the offering creating a potential alignment of interests with investors.

MSA Details

Waco is the county seat of McLennan County. It also offers some major attractions, five historic homes, seven recreational venues, and nine arts organizations staging theatrical and musical productions, as well as art exhibitions. The City is the birthplace of Dr Pepper, the Texas Ranger Hall of Fame and Museum and the Texas Sports Hall of Fame. Waco is also home to the Waco Mammoth National Monument, a 100 plus acre stretch of wooded parkland along the Bosque River. The site provides a glimpse into the lives of Columbian mammoth bones discovered in Waco along the Bosque River and is part of the National Parks System.

Property Highlights

  • Shopping center with 191,559 gross leasable square feet situated on 16.28 AC, built in 1973.
  • Hobby Lobby anchored shopping center, with term through 2026
  • True Value recently committed to a 10-year term with a 10% escalation in years 6-10, DD’s Discounts backed by Ross Stores with term through 2026
  • Upside through lease up of the 22,502 SF in vacancy
  • Leases are staggered and expire incrementally through 2031
  • Parkdale Commons features 191 559 square feet of retail space located at the signalized intersection of N Valley Mills Drive and Bosque Boulevard In addition to the center, the area boasts a large concentration of national retailers in the market including Target, Walmart, Tractor Supply, Academy Sports, Lowe’s and Home Depot

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.

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Risks & Disclosures

All offerings shown are Regulation D Rule 506c offerings.

This material has been prepared for accredited investors (generally described as having a net worth of over $1 million dollars exclusive of primary residence) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney prior to considering an investment.

The information herein has been prepared for educational purposes only and does not constitute an offer to purchase securitie or real estate investments. Such offers are only made through the sponsors Private Placement Memorandum (PPM) which is solely available to accredited investors and accredited entities.

IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax concepts, therefore you should consult your legal or tax professional regarding the specifics of your particular situation prior to considering an investment.

This material is not to be interpreted as tax or legal advice. Please speak with your own tax and legal advisors for advice/guidance regarding your particular situation.

There are risks associated with investing in real estate and Delaware Statutory Trust (DST) properties including, but not limited to, loss of entire investment principal, declining market values, tenant vacancies and illiquidity.

Investors should read the PPM carefully before investing paying special attention to the risk section.

Because investors situations and objectives vary this information is not intended to indicate suitability for any particular investor. Please speak with your CPA and Attorney to determine if an investment in real estate and DST properties is suitable for your particular situation/circumstances.

Past performance is not indicative of future returns.

Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated.

There are significant limitations on the ability to sell or transfer interests.

Expected cash flows and returns may not be realized and a loss of invested capital is possible.

The Sponsor, Co-Sponsor, Master Tenant, Trustee & Affiliates will all receive substantial fees relating to the syndication, ongoing management and disposition of this offering.

Securities offered through FNEX Capital, member FINRASIPC.

There are important risks specific to each tenant and their respective leases, including expiration dates, early termination options, renewal options and economics relating to rents paid and expense reimbursements. Should a tenant fail to meet their obligations, terminate early or fail to renew their lease it could have a material negative impact on the financial performance of this property.