(Los Angeles, CA) Cove Capital Investments Founding Partners, Dwight Kay and Chay Lapin, recently provided an in depth look at its recently acquired Cove Eastwood Village Opportunity 71 DST, a multi-tenant retail center in Birmingham, AL available for 1031 exchange as well as direct investment. This investment is a Regulation D, Rule 506(c) offering that is targeting to raise $22,798,024 in equity from accredited investors with a minimum investment requirement of $25,000. Cove Capital purchased the asset in an all-cash/debt-free transaction as a purposeful strategy to potentially mitigate risks associated with debt.

According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, the retail center is shadow anchored by a high performing Walmart Supercenter (not a part of the subject offering), and anchored by Ross Dress for Less, Five Below, Office Depot, Michaels, Party City, Hibbett Sports, America’s Best, T-Mobile & Starbucks.

“We are thrilled with this acquisition for a number of reasons. First, it shares a parking lot with a super Walmart, and while the Walmart is not part of the offering, we really like the synergy it brings to the Cove Eastwood Village Opportunity 71 shopping center,” said Kay.

Chay Lapin, also Managing Member and Founding Partner at Cove Capital Investments explained that the Cove Eastwood Village Opportunity DST is the #1 retail center in the market1 with many of the tenants ranking within the top percentile within their respective chains as top performers.

Both Kay and Lapin commented that they like the multi-tenant retail asset class for a number of reasons including that the staggered lease expirations can potentially provide opportunity for ownership.

“This is what we would call a ‘buoy investment.’ That means there is the potential for creating additional value through increasing rents, backfilling space, and extending lease terms. There is the opportunity to really get in there, roll up our sleeves, and start adding potential value to the asset,” said Kay.

Lapin added, “The purchase of Cove Eastwood Village is a value-add strategy with a goal of potentially increase net operating income and property value/investor equity. What makes this property particularly appealing for our DST offering is that it is the #1 Retail Center in the market seeing an estimated 3.4M visits per year2. The property is neighbor to multiple national tenants and is seeing street traffic of a combined 78,000 vehicles per day3. The retail center's strategic location in Birmingham, AL, is near the University of Alabama Birmingham, hosting over 21,600 full-time students (2022 Fall Enrollment). The location stands as a densely populated center in Birmingham, AL, with a population of 116,944 within a 5-mile radius of the property," explained Lapin.

Interested accredited investors considering a 1031 exchange or a direct investment are encouraged to visit www.covecapitalinvestments.com to register for a copy of the Private Placement Memorandum which goes into full detail on the business plan and risk factors of investing in this Delaware Statutory Trust offering.