What we're looking for

At Cove Investments, we rigorously screen a wide range of projects and sponsors. We also believe it’s critical to have “skin in the game” and therefore continue to invest our own capital alongside our clients. We expect and require our general partners to do the same.

Project Characteristics

  • Apartment buildings and student housing properties of 50-250 units for optimal scale
  • Strong markets / sub-markets with rent growth supported by growth in population, jobs, and income
  • B/C class assets with rents currently below market, with a value-add (renovation) strategy to force appreciation.
  • Experienced partners with deep local knowledge and resources on the ground
  • Use of cost segregation to maximize depreciation benefits for investors  

Financial Return Targets

  • >100% total return over 5-7 years
  • High single-digit cash-on-cash returns with monthly or quarterly cash distributions to investors
  • A minimum of 10-15% IRRs with conservative underwriting

See below for several transactions in which Cove Investments has participated:

River Ridge Apartments Columbia, SC

River Ridge Apartments
Columbia, SC

146 Units | Mission Bay Capital Partners (Sponsor)

Lake Creek Apartments, Austin TX

Lake Creek Apartments
Austin TX

350 Units | Wildhorn Capital (Sponsor)

Alamo Estates, San Antonio, TX

Alamo Estates
San Antonio, TX

208 Units | Disrupt Equity (Sponsor)

Retreat at Stone Mountain, Atlanta, GA

Retreat at Stone Mountain
Atlanta, GA

212 Units | Disrupt Equity (Sponsor)

Sahara Apartments, Tucson, AZ

Sahara Apartments
Tucson, AZ

174 Units | Marota Group (Sponsor)

Porterwood Apartments
Houston, TX

136 Units | Disrupt Equity (Sponsor)