Latest news with #DST
Yahoo
3 days ago
- Business
- Yahoo
Cove Capital Investments Announces It Has Fully Subscribed Its San Antonio Multifamily 74 Delaware Statutory Trust Offering After Raising Nearly $19 Million from Accredited Investors
The historic "Peanut Factory Lofts" successfully sells out after securing $18,679,418 from accredited investors. LOS ANGELES, May 30, 2025 /PRNewswire/ -- Cove Capital Investments, LLC, a DST sponsor company that specializes in providing accredited investors access to debt-free investment options for their 1031 exchange and direct cash investments, announced its San Antonio Multifamily 74 Delaware Statutory Trust Offering, a Regulation D, Rule 506(c) Delaware Statutory Trust offering, is fully subscribed. The total amount of equity raised for the offering was $18,679,418. "The successful sellout of the DST reflects strong investor confidence in Cove Capital's abilities and our commitment to acquiring high quality assets in key markets across the country. The Peanut Factory Lofts was a great example of this strategy in action, and how our debt-free investment thesis continues to appeal to our growing group of investors, broker dealers, and RIAs," said Dwight Kay, Managing Member and Co-Founder of Cove Capital Investments. According to Kay, the San Antonio Multifamily 74 DST had some very unique characteristics that made it an attractive acquisition. "For example, the property has a appealing mix of dwelling units including one-, two-, and three-bedroom floorplans, townhomes, and a penthouse. This selection perfectly aligns with the historic downtown San Antonio market where the building is located," said Kay. Additionally, the 96,184-square-foot Peanut Factory Lofts, built in 2014, features 102 units and 127 parking spaces. Residents enjoy premium amenities such as private garages, a coffee bar, a landscaped courtyard, door-to-door trash pickup, a dog park, a fitness center, and a resort-style pool with a cabana. According to Chay Lapin, Managing Member and Co-Founder of Cove Capital, the San Antonio Multifamily 74 DST offering had several architectural aspects that attracted investors. For example, the asset was originally constructed as a peanut processing plant and then converted into 'The Peanut Factory Lofts' - a Class-A apartment community in 2014. The unique history of the building, combined with its proximity to San Antonio's trendy Southtown, Historic King William District, Blue Star Arts Complex, and Historic Market Square, gives the building a distinct contemporary-urban aesthetic. The building also incorporated some of the original silos, now transformed into modern apartments, along with a three-bedroom penthouse with a balcony and rooftop access. "On top of these elements, investors also appreciated our all-cash position, which ensured closing certainty—critical for securing this unique asset," said Chay Lapin, Managing Member and Co-Founder of Cove Capital. "We are excited to begin our list of property level improvements on behalf of our investors in an effort to potentially increase Net Operating Income (NOI) and property value." About Cove Capital Investments Cove Capital Investments is a Delaware Statutory Trust sponsor company that operates a portfolio of over 2.5 million square feet of real estate in 33 states nationwide. Over 2,000 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 For further information, please visit or contact Cove Capital at (877) 899-1315 and via email at info@ *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. View original content to download multimedia: SOURCE Cove Capital Investments Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Cove Capital Investments Announces It Has Fully Subscribed Its San Antonio Multifamily 74 Delaware Statutory Trust Offering After Raising Nearly $19 Million from Accredited Investors
The historic "Peanut Factory Lofts" successfully sells out after securing $18,679,418 from accredited investors. LOS ANGELES, May 30, 2025 /PRNewswire/ -- Cove Capital Investments, LLC, a DST sponsor company that specializes in providing accredited investors access to debt-free investment options for their 1031 exchange and direct cash investments, announced its San Antonio Multifamily 74 Delaware Statutory Trust Offering, a Regulation D, Rule 506(c) Delaware Statutory Trust offering, is fully subscribed. The total amount of equity raised for the offering was $18,679,418. "The successful sellout of the DST reflects strong investor confidence in Cove Capital's abilities and our commitment to acquiring high quality assets in key markets across the country. The Peanut Factory Lofts was a great example of this strategy in action, and how our debt-free investment thesis continues to appeal to our growing group of investors, broker dealers, and RIAs," said Dwight Kay, Managing Member and Co-Founder of Cove Capital Investments. According to Kay, the San Antonio Multifamily 74 DST had some very unique characteristics that made it an attractive acquisition. "For example, the property has a appealing mix of dwelling units including one-, two-, and three-bedroom floorplans, townhomes, and a penthouse. This selection perfectly aligns with the historic downtown San Antonio market where the building is located," said Kay. Additionally, the 96,184-square-foot Peanut Factory Lofts, built in 2014, features 102 units and 127 parking spaces. Residents enjoy premium amenities such as private garages, a coffee bar, a landscaped courtyard, door-to-door trash pickup, a dog park, a fitness center, and a resort-style pool with a cabana. According to Chay Lapin, Managing Member and Co-Founder of Cove Capital, the San Antonio Multifamily 74 DST offering had several architectural aspects that attracted investors. For example, the asset was originally constructed as a peanut processing plant and then converted into 'The Peanut Factory Lofts' - a Class-A apartment community in 2014. The unique history of the building, combined with its proximity to San Antonio's trendy Southtown, Historic King William District, Blue Star Arts Complex, and Historic Market Square, gives the building a distinct contemporary-urban aesthetic. The building also incorporated some of the original silos, now transformed into modern apartments, along with a three-bedroom penthouse with a balcony and rooftop access. "On top of these elements, investors also appreciated our all-cash position, which ensured closing certainty—critical for securing this unique asset," said Chay Lapin, Managing Member and Co-Founder of Cove Capital. "We are excited to begin our list of property level improvements on behalf of our investors in an effort to potentially increase Net Operating Income (NOI) and property value." About Cove Capital Investments Cove Capital Investments is a Delaware Statutory Trust sponsor company that operates a portfolio of over 2.5 million square feet of real estate in 33 states nationwide. Over 2,000 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 For further information, please visit or contact Cove Capital at (877) 899-1315 and via email at info@ *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. View original content to download multimedia: SOURCE Cove Capital Investments Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
It's About Time: State Law On Ending Biannual Clock Change
Texas is poised to adopt permanent daylight saving time, dubbed 'Texas Time,' after the state Senate passed House Bill 1393 last week with a 27-4 vote. The measure will now be sent to Gov. Greg Abbott for his expected signature. However, the change hinges on federal approval, as current law prohibits states from staying on daylight saving time year-round. HB 1393, introduced by Rep. Will Metcalf (R-Conroe), aims to end the twice-yearly clock changes that many Texans find disruptive. The bill, which cleared the Texas House in April, would permanently keep the state on daylight saving time (DST), extending evening daylight hours. 'The bill would provide numerous benefits to Texans,' said Sen. Paul Bettencourt (R-Houston), who sponsored the measure in the Senate. 'It's very difficult to use that hour before an 8 a.m. start for school or work very effectively, but you can use the several hours later, up through dusk.' Under the federal Uniform Time Act of 1966, states can opt for permanent standard time, as Arizona and Hawaii do, but not permanent daylight saving time without Congressional action. 'Right now, the federal government does not allow the states to make this change, so this is effectively a trigger bill,' Bettencourt said. Texas joins 18 other states, including Florida and Oklahoma, that have passed similar measures awaiting federal permission. The Sunshine Protection Act, which would allow states to adopt permanent daylight saving time, has been introduced in Congress five times, most recently in 2025, but has not passed. Critics, like Sen. Nathan Johnson (D-Dallas), argue that permanent daylight saving time poses health and safety risks. 'Everybody hates the time change,' Johnson said. 'But this has been studied medically, and there is a ton of health risks.' He cited disruptions to circadian rhythms and potential increases in pre-dawn traffic accidents, referencing the U.S.'s failed 1974 experiment with year-round daylight saving time, which was repealed after public backlash. 'The question is: Do we go with daylight saving time and always be an hour ahead of where we established our clock centuries ago? Or do we go back to what we've done for centuries?' Johnson said. Sen. Judith Zaffirini (D-Laredo) proposed permanent standard time and, alongside Bettencourt, suggested a referendum to let Texans choose. Still, neither idea gained traction among the 13 time-related bills filed this session. A 2019 AP-NORC poll found that 40% of Americans favor permanent standard time, 31% prefer permanent daylight saving time, and 28% want to keep the current system. Public comments on HB 1393 at a hearing in the House largely favored ending the biannual clock change, but most commenters favored a return to permanent standard time rather than permanent daylight saving time. Frisco resident Shannon Stewart said, 'Daylight Saving Time is dangerous for children, and HORRIBLE for our health. It disrupts our bodies' circadian rhythm. Additionally, DST has been mandated by an overreaching government before (1972) and was so hated that it was repealed. We need PERMANENT Standard Time.' 'Dictating artificial daylight savings is not the job of government,' Stewart continued. 'Noon should be when the sun is at its highest point in the sky, not at a time appointed by government.' Dr. Audrey Nath, a neurologist in Houston, urged legislators to oppose HB 1393 and instead support HB 1733, HB 1736, or SB 692, which all propose permanent standard time. 'President Nixon had put Permanent DST into effect in 1974, and it was retracted within a year. We do not need to run this experiment again in Texas,' Nath said. 'There are more heart attacks with DST. With permanent Standard Time, there is improved visibility for driving during the morning commute, and better sleep and circadian rhythms. Permanent Standard Time would have a tangible positive effect on the health of Texans.' Globally, only about a third of countries observe daylight saving time, primarily in Europe and North America, according to the Pew Research Center. In the past decade, nations like Azerbaijan, Iran, and Mexico have abolished the practice, often citing health concerns. Egypt, which ended it in 2014, reinstated it in 2023 for energy savings. Then-president-elect Donald Trump and allies like Elon Musk and Vivek Ramaswamy have previously called for ending clock changes. In December, Trump labeled the practice 'inconvenient' and 'very costly' on social media. If signed by Abbott and approved by Congress, HB 1393 would align Texas with a growing movement to stabilize timekeeping, though its implementation remains uncertain pending federal action.
Yahoo
5 days ago
- Business
- Yahoo
JLL Income Property Trust Fully Subscribes $158 Million Diversified DST
CHICAGO, May 28, 2025 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed, daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.5 billion in portfolio equity and debt investments, announced today that it has fully subscribed JLLX Diversified VIII, DST. The $158 million program was structured as a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to reinvest proceeds from the sale of appreciated real estate while also deferring taxes. JLLX Diversified VIII, DST consisted of a multifamily residential community comprised of 323 units in Wilsonville, OR and a grocery-anchored shopping center totaling approximately 147,000 square feet located in Cedar Park, TX. "We are proud to have fully subscribed JLLX Diversified VIII, DST," said Drew Dornbusch, Head of JLL Exchange. "The high level of engagement we have seen from financial advisors in 2025 alone confirms the market's demand for institutional-quality, low-fee, 1031 solutions. Our investors and financial advisors continue to respond positively to the tax deferral, estate planning, and diversification benefits offered by the JLLX platform." "The multifamily rental and grocery-anchored retail sectors continue to provide durable income and strong fundamentals," said Allan Swaringen, President and CEO of JLL Income Property Trust. "JLLX Diversified VIII, DST provided access to these two resilient property sectors in an investment solution designed to allow investors to maintain their allocations to core real estate while enjoying a range of tax and estate planning benefits." Since its inception in 2019, JLL Exchange has attracted more than $1.85 billion across 26 DST offerings from property owners seeking to maintain a meaningful allocation to real estate in a tax efficient manner. The most recent UPREIT, Diversified II DST, closed on May 7, 2025 with $185 million in assets. To date, JLL Income Property Trust has completed 15 full cycle UPREIT transactions totaling $1.2 billion. JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms. For more information on JLL Income Property Trust, please visit our website at About JLL ExchangeThe JLL Exchange program offers private placements through the sale of interests in Delaware Statutory Trusts (DSTs) holding core real estate investment properties. For more information, visit JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing residential, industrial, grocery-anchored retail, healthcare, office and debt investments throughout the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. For more information, visit About LaSalle Investment Management | Investing Today. For Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages $82.3 billion of assets in private and public real estate equity and debt investments as of Q4 2024. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments. Forward Looking Statements and Future ResultsThis press release may contain forward-looking statements with respect to JLL Income Property Trust. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, research, market analysis, plans or predictions of the future. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. Past performance is not indicative of future results and there can be no assurance that future dividends will be paid. Contacts: Alissa SchachterLaSalle Investment ManagementTelephone: +1 312 339 0625Email: Doug AllenDukas Linden Public RelationsTelephone: +1 646 722 6530Email: JLLIPT@ View original content to download multimedia: SOURCE JLL Income Property Trust Error while retrieving data Sign in to access your portfolio Error while retrieving data
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Business Standard
5 days ago
- Automotive
- Business Standard
Govt to operationalise Rs 1-trillion innovation fund in next 3 months
The Rs 1-trillion Research Development and Innovation Fund (ANRM), announced in the July Budget for FY25—with Rs 20,000 crore already allocated—will be operationalised in the next two to three months, a top official said. Union Finance Minister Nirmala Sitharaman had, on February 1, allocated Rs 20,000 crore to the Department of Science and Technology (DST) as a corpus to promote private sector–driven innovation. The Rs 1-trillion fund was first announced in the July 2023 Budget. While the ANRM fund primarily supports academic research, universities, and public research labs, the Research, Development and Innovation (RDI) fund under it will be dedicated exclusively to private sector R&D. The DST plans to set up a Deep Tech Fund under this scheme, aimed at building strategic autonomy in critical sectors such as clean energy, electric vehicles (EVs), and advanced materials. 'This fund is not just for start-ups—it is also for corporates and industries, provided they undertake cutting-edge R&D projects. Once operational, the industry is expected to deliver innovative products and help India achieve strategic autonomy in the mobility transition,' said Abhay Karandikar, Secretary, DST, at the Battery Summit organised by World Resources Institute (WRI) India on Wednesday. DST's budget has grown from ₹2,777 crore in 2014 to ₹28,509 crore in FY26, and gross expenditure on R&D has risen from ₹60,196 crore to ₹1,27,380 crore over the same period. Investment in battery R&D is crucial, as it drives innovation in energy storage, improving battery performance, safety, and cost-efficiency. Research is essential for meeting rising energy demands, transitioning to sustainable transportation, and achieving energy independence. India currently lacks significant reserves of key battery materials such as lithium, cobalt, and nickel, making the country reliant on imports and exposing it to price volatility and geopolitical risks. Meanwhile, the Automotive Research Association of India (ARAI), a government body, will set up an advanced battery lab in the next few months as part of its expansion plan, an ARAI official said. However, he expressed scepticism about its capacity to meet India's full testing needs. ARAI is reportedly planning to invest Rs 100 crore to develop advanced testing labs and infrastructure across the country in 2025. Several of its facilities at the new Mobility Research Centre in Takwe are in the final stages of completion and are expected to be operational this year. ARAI established its first Centre of Excellence for Green Mobility in Chakan, Pune, in 2020. At the Battery Summit, WRI India released a report titled Development of Data Frameworks for Battery Circularity in India, which stressed the urgent need for a unified data framework to improve transparency and collaboration across the battery ecosystem. A battery data framework facilitates the collection and assessment of key data across the battery life cycle using its digital record. This enables seamless, secure, and transparent data exchange among multiple stakeholders in the EV ecosystem. Such a framework benefits supply-chain stakeholders by providing access to data on due diligence, carbon footprint, and material composition. This enables battery manufacturers and automotive OEMs to compare suppliers, enhance sourcing decisions, and mitigate risks associated with raw material sourcing, processing, and trading. Similarly, access to reliable and comparable data on a battery's carbon footprint can help consumers make informed purchase decisions. Further, information on battery composition and state of health (SoH) is particularly valuable in ensuring efficient battery recycling and reuse.
