RE · REAL ESTATE

Texas Build-To-Rent 97 DST

Cove Capital Investments · Build-to-Rent Single-Family DST

Program Overview

Build-to-Rent Single-Family DST

Peer Group Filters

Objectives: IncomeCapital AppreciationCapital PreservationTax AdvantagedDiversification
Asset Class: Real Estate
Vehicle: DST
Single / Multi Asset: Single-Asset

Sponsor/Manager

Cove Capital Investments

Asset Class

Real Estate

Issuer

Texas Build-To-Rent 97 DST

Issuer Legal Structure

Delaware Statutory Trust

Program Life Structure

Finite

Securities Offered

Equity - Beneficial Interests

Program Hold Period

1–20 years

Target Leverage

Target 0% LTV Debt-free offering (Offering LTV 0%; property owned free and clear of long-term financing). PPM discloses a possible short-term acquisition Loan, terms undetermined, secured by pledged entity interests or a mortgage; trust liable as owner. Trust Agreement retains lender provisions.

Strategy Risk/Return Profile

Development

Managing Broker-Dealer

FNEX Capital, LLC

Asset Details

83 units Single-family homes · 154,431 sq ft Rentable square feet · 9 acres · 166 spaces

Tax Opinion

“Should” Level 1031 exchange eligibility · subject to stated assumptions

Target Offering

$27,223,181

Minimum Investment

$100,000

Beneficial Interests · waivable

Strategy Overview

The PPM states the Trust is a Delaware statutory trust holding one property, The Arbor at Riverstone, an 83-home build-to-rent community in San Antonio, Texas, acquired for $22,700,000. The property is subject to a 20-year Master Lease with a Sponsor-affiliated Master Tenant. The Trust Agreement provides that investors hold non-voting beneficial interests, while the Sponsor-affiliated Signatory Trustee controls Trust decisions, including property disposition.

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