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Two San Antonio BTR Communities Trade Hands
Cove Capital and Capital Square picked up build-to-rent communities in San Antonio.
Cove Capital Investments completed the purchase of a brand-new Build-to-Rent multifamily residential home community. The purchase completes the formation of the firm’s Cove, Texas, Build-to-Rent 97 DST, a Regulation D, Rule 506(c) offering with a $27,223,181 equity raise. The Cove, Texas, Build-to-Rent 97 DST features a community of 83 newly constructed single-family rental units with high-end, resort-style amenities.
The Cove Dallas Build-to-Rent 87 DST offering was constructed in 2024 by DR Horton and currently has an occupancy rate of 95%. In addition, there is room for potential rental rate increases as leases roll over in the coming months. Because Cove Capital acquired the asset entirely debt-free, the sellers awarded it to Cove below appraised value—creating an immediate value-add opportunity.
Capital Square acquired Woodland Cottages, a 62-unit adult BTR community at 161 Friendship Lane in Fredericksburg, for its CS1031 Texas Active Adult Living I DST, targeting 1031 exchange investors.
What’s next for multifamily development and expansion in Texas? Hear from major developers—including leadership from Ryan Companies, Lument, GSP, Zonda, Daniel Management Group, CSSI, PGIM, Transwestern, Regions Bank, and many more —as they share what’s driving the pipeline, strategies, overcoming delays, and setting the pace for what’s ahead at Connect Texas Multifamily. www.ConnectTXMF2025.com | EVENT DATE: Thursday, August 28th | VENUE: The Joule, Dallas
- ◦Sale/Acquisition
