Dwight Kay & Chay Lapin Of Cove Capital Investments Acquire 68400 SF Industrial Asset In San Antonio
Building Size
68,400 SF
Asset Type
Industrial
Closing
Dec 9, 2024
AI
Cove Capital Investments, LLC has acquired a Small Bay Industrial Asset, consisting of 68,400 square feet, located in San Antonio, Texas. The property is fully leased to multiple tenants, ensuring a stable income stream. It benefits from strong tenant stability, reflected in an average tenant tenure of 9.8 years, and enjoys high visibility in the northwest submarket, positioned near IH-10 and Loop 1604.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15.37 million
- Asset Size: 68,400 square feet
- Address: Small Bay Industrial Asset, San Antonio, Texas
- Market: San Antonio
- Buyer: Dwight Kay & Chay Lapin - Cove Capital Investments, LLC
- Seller's Representative: Not provided
The acquisition of the Small Bay Industrial Asset demonstrates Cove Capital Investments' strategy in targeting investor funds through its Texas Small Bay 85 Flex DST offering. The transaction was handled by Dwight Kay and Chay Lapin, who represent Cove Capital Investments in this purchase.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93