Cove Capital Investments Completes Acquisition of a 64,607-Square-Foot Corporate Headquarters Building in Southfield, Michigan to Finalize the Formation of Its Southfield Corporate 118 DST
The recent acquisition highlights a fully leased corporate headquarters asset to Cove Capital’s growing portfolio of debt-free Delaware Statutory Trust offerings.
LOS ANGELES, Aug. 5, 2026 /PRNewswire/ — Cove Capital Investments, LLC, a national real estate investment sponsor firm that specializes in debt-free 1031 exchange Delaware Statutory Trust (DST) investments, announced it has completed its acquisition of a Class A corporate headquarters for form the firm’s Southfield Corporate 118 DST, a Regulation D, Rule 506 (c) offering with an equity target of $11,039,877. The Southfield Corporate 118 DST is located in Southfield, Michigan, one of the Midwest’s premier corporate business centers.
Southfield contains more than 27 million square feet of office space and has long been home to more than 10,000 businesses and over 100 Fortune 500 companies. The property’s location provides immediate access to Interstate 696 and the region’s major freeway network, offering excellent regional connectivity
According to Dwight Kay, Managing Member and Co-Founder of Cove Capital Investments, the three-story Class A corporate headquarters facility is fully leased and serves as the North American corporate headquarters for a global industrial company with annual revenues exceeding $10 billion and operations spanning more than 40 countries.
Cove Capital Investments acquired the asset in an all-cash, debt-free transaction from a distressed seller, allowing the firm to move quickly and provide certainty of closing without reliance on outside financing. “By purchasing the property directly on Cove’s balance sheet prior to launching the DST offering, we were able to differentiate ourselves from other buyers and capitalize on the sellers need to exit the asset quickly. In addition, Cove Capital acquired the property at a price that was below current replacement costs, creating the potential for meaningful value and income potential for investors,” explained Kay.
Chay Lapin, Managing Member and Co-Founder of Cove Capital explained this recent transaction perfectly illustrates Cove Capital’s debt-free investment thesis.
“This recent acquisition reflects Cove Capital’s disciplined value-oriented investment philosophy. While many institutional investors continue aggressively pursuing overpriced assets in today’s market, Cove identified a fundamentally strong corporate headquarters asset that was temporarily mispriced due to the seller’s distress. The transaction exemplifies Cove’s ability to uncover inefficiencies in the market, execute quickly, and deliver investments designed to potentially enhance investor returns through strategic acquisitions rather than speculative appreciation assumptions,” said Lapin.
