LOS ANGELES, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Cove Capital Investments, LLC (“Cove Capital”) and its affiliates are pleased to announce the acquisition of the multifamily apartment community located at 236 Deerwood Drive, San Antonio, Texas 78209 (the “Property”). The Property was acquired on February 1, 2021.
With approximately 27,098 rentable square feet across 12 buildings, the Property represents Cove Capital’s latest asset acquisition in the residential multifamily investment market. The Property is the single asset comprising one of Cove Capital’s latest Tenant In Common (“TIC”) offerings, Cove San Antonio Multifamily 29, LLC, a regulation D, Rule 506c private placement (the “Offering”), which offers up to 35 undivided tenant-in-common interests in the Property for high-net-worth investors.
In addition to the assortment of net-leased properties Cove Capital provides to 1031 investors, Cove Capital is also dedicated to providing investors with a variety of residential multifamily assets, like the Property, to support their investment needs. The acquisition of the Property, coupled with the new Offering, serve as Cove Capital’s latest endeavor to provide yet another investment option in the residential multifamily space for 1031 exchange and direct cash investors.
Cove Capital and its affiliates take pride in the acquisition of quality assets like the Property and look forward to utilizing the Property, and many others like it, to serve the investment and 1031 exchange needs of many more investors to come. Along with tenant-in-common 1031 offerings, Cove Capital also provides high-net-worth investors 1031 exchange Delaware Statutory Trust (DST) investments and real estate fund offerings. For further information, please contact Cove Capital at (855) 463-7428 or via email at info@covecapitalinvestments.com.
This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior to investing. This correspondence contains information that has been obtained from sources believed to be reliable. However, Cove Capital Investments, LLC does not guarantee the accuracy and validity of the information herein. Investors should perform their own investigations before considering any investment. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, TIC properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Nothing contained in this material, including in this disclosure or in any other disclosure in this message, constitutes tax, legal, insurance or investment advice, nor does it constitute a solicitation or an offer to buy or sell any security or other financial instrument. Securities offered through Growth Capital Services, member FINRA, SIPC, Office of Supervisory Jurisdiction located at 582 Market Street, Suite 300, San Francisco, CA 94104.
Media contacts for more information:
Cary Brazeman, 310-205-3590, cary@crelix.com
Victoria Ozols, 310-205-3590, victoria@crelix.com