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