The Cove Essential Net Lease Industrial 99 DST provides investors access to a quality industrial net leased asset that is 100% occupied by a best-in-class distribution tenant, complemented by the strategic flexibility of an optional – not obligatory – potential 721 Exchange rollup exit strategy.
LOS ANGELES, Nov. 11, 2025 /PRNewswire/ — Cove Capital Investments, LLC, a Delaware Statutory Trust sponsor company that specializes in providing accredited investors access to debt-free options for their 1031 exchange and direct cash investments, announced it has recently established the Essential Net Lease Industrial 99 DST, a Regulation D, Rule 506(c) offering that aims to raise $5,501,030 in equity. The newly acquired facility is a strategically located industrial distribution center in Walla Walla, WA, providing direct access to major Pacific Northwest markets, including Seattle, Portland, Spokane, and Boise via the I-84 and I-90 corridors.
According to Dwight Kay, Managing Member and Co-Founder of Cove Capital Investments, this particular single tenant net lease distribution facility has several key factors that deem it worthy of investor consideration.
“For DST investors, the Cove Essential Net Lease Industrial 99 DST offers the trifecta of a long-term net lease agreement from a well-known best in class distribution operator, the durable demand of the industrial distribution real estate asset sector, and a well located asset in direct proximity to multiple transportation routes connecting this location to the entire Pacific Northwest region,” said Kay. *
In addition, the Cove Essential Net Lease Industrial 99 DST, like all offerings from Cove Capital Investments, was purchased in an all-cash transaction and presented to investors as a debt-free offering. This deliberate, zero-leverage strategy is a core component of Cove Capital’s investment thesis, designed to mitigate risks inherent in leveraged real estate. Cove Capital has attracted the interest of over 2,300 investors over the years that have chosen to participate in its 1031 exchange and DST investments.
“By eliminating debt, the offering seeks to protect investors from threats such as mortgage foreclosure, lender-imposed cash flow sweeps, and the activation of “go-dark” provisions that can jeopardize an investment’s stability,” explained Chay Lapin, Managing Member and Co-Founder of Cove Capital Investments.
The Cove Essential Net Lease Industrial 99 DST is occupied by an industry leading distribution tenant within the snack foods industry, and features a brand new building with multiple loading docks constructed on approximately 2.25 acres of land.
“”We strategically acquired this 2025 build-to-suit Walla Walla, WA distribution center at a price we believe is below current market value, providing investors with a potential avenue for future value creation. Plus, as consistent with most Cove Capital offerings, the firm’s principals have personally invested in this opportunity alongside its investors—demonstrating a shared commitment and aligned interest. Finally, the property’s highly functional design includes provisions for future expansion, adding a potential additional of layer of long-term value creation,” explained Kay.
“Another important aspect of the Cove Essential Net Lease Industrial 99 DST is that it provides investors the option of using the 721 Exchange rollup as a fully optional exit strategy. Instead of investing in a forced 721 UPREIT DST, our investors are going to be given the option to participate in a future potential 721 UPREIT or not – at their discretion. This means that at the time of any potential future 721 UPREIT transaction, our investors will be able to analyze the final destination REIT by examining key areas such as REIT debt levels, dividend coverage ratios, the use of floating rate debt, does the REIT offer 721 investors a Tax Protection Agreement (TPA), and if so for how long? These are all very important components investors need to consider prior to participating in a 721 exchange”, said Lapin.
About Cove Capital Investments
Cove Capital Investments is a Delaware Statutory Trust sponsor company that operates a portfolio of over 3.5 million square feet of real estate in 33 states nationwide. Over 2,300 investors have trusted Cove Capital with their 1031 exchange and investment dollars, many of them being repeat investors in multiple DST offerings over the years. Our offerings are attractive to those investors seeking to lower risk potential as the majority of Cove Capital’s DST offerings are debt free (no mortgage – no lender foreclosure risk). To sign up for a list of the current Cove Capital offerings available for 1031 exchange and direct investments please visit www.covecapitalinvestments.com.
For further information, please visit www.covecapitalinvestments.com or contact Cove Capital at (877) 899-1315 and via email at [email protected].
*Past performance is no guarantee of future results.
*Diversification does not guarantee profits or protect against losses.
*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 material 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, Delaware Statutory Trust (DST) 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 multi-family 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. Securities offered through FNEX Capital, member FINRA, SIPC.
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