The offering contains 15 properties in 15 markets diversified across 13 states and 9 historically recession-resilient tenants, including FedEx, Tops Friendly Markets, Dollar General, Tractor Supply, and BioLife. 

The asset was sourced by Hines Global Income Trust Inc., a division of Hines which acquired the Class A office building in July 2022 from Stonelake Capital Partners for $145 million.

BREIT reported that its received $1.8B in redemption requests in November, an 18% drop from the previous month and a 66% decline from January, when the withdrawal requests peaked.

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Kay explained that the Cove Essential Net Lease 58 DST is an all-cash/debt free, zero leverage offering for 1031 Exchange and Direct Cash Investors...

The increase in the distribution rate reflects increasing income on CIM RACR’s floating rate real estate and credit investments and the expectation of improving net operating income on its real estate equity investments from recent strong leasing activity.

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Warren Thomas, a managing partner at ExchangeRight, shared that this reporting relationship will help educate advisors about the Essential Income REIT's successful performance to date, broadening its reach to more investors who need the kind of stable income that the REIT has historically generated.