Deals Counterparts

Cove Capital Investments acquires distribution facility in Mobile, Alabama for $12.1M equity offering

Acquisition Industrial announced United States May 1, 2026
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USD12.1M
Deal Value

Cove Capital Investments completed the acquisition of a 23,018-square-foot build-to-suit industrial distribution facility in Mobile, Alabama, serving as a product exchange center for a division of a multinational food and beverage corporation. The transaction was structured through a Regulation D, Rule 506(c) offering targeting $12.1 million in equity, with Cove Capital positioning the asset as a debt-free investment vehicle under its DST model. The facility features a recently executed 10-year net lease and is strategically located along Interstate 65 with direct connectivity to Interstate 10, providing access to critical freight corridors and the Port of Mobile. The tenant, a cornerstone of the U.S. snack food market, relocated from an older facility after operating in the area for over 20 years to reduce transportation times and support anticipated growth in the logistics corridor. Cove Capital principals co-invest their own capital in the offering, aligning with the firm's zero-leverage investment thesis designed to reduce risk and preserve investor capital.

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Counterparts (2)

Buyer
Cove Capital Investments
company · 1 deals
Torrance, California-based Delaware Statutory Trust sponsor specializing in debt-free 1031 exchange real estate investments for accredited investors, with a portfolio of 127 properties valued at $998M across 35 U.S. states.
borrower
Cove Essential Net Lease Industrial 114 DST
company · 1 deals
Torrance-based Delaware Statutory Trust sponsor specializing in debt-free 1031 exchange DST investments, with $998M in sponsored transactions across 127 properties in 35 U.S. states, primarily focused on net lease industrial real estate.

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Timeline

Announced
May 1, 2026
Signed
Closed

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Source

irei.com
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