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Loop 1604 intersection San ...

Dwight Kay & Chay Lapin Of Cove Capital Investments Acquire 68400 SF Industrial Asset In San Antonio
SOLDIndustrial

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