Dwight Kay & Chay Lapin Acquire 83-Unit Multifamily Community In San Antonio For $27.2M

The property involved in this transaction is a build-to-rent community consisting of 83 units located at 13927 Borolanite Drive in San Antonio. The asset was acquired debt-free as part of Cove Capital Investments' $27.2 million Cove Texas Build-to-Rent 97 DST offering. High-end amenities and a 95% occupancy rate are notable features of this multifamily property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27.2 million
• Units: 83
• Address: 13927 Borolanite Drive
• Market: San Antonio
• Occupancy Rate: 95%
• Buyer: Dwight Kay & Chay Lapin - Cove Capital Investments

Dwight Kay and Chay Lapin represented Cove Capital Investments in this acquisition. The deal positions investors for income growth and includes an optional 721 exchange exit strategy.