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LOS ANGELES and TACOMA, Wash., July 12, 2019 (GLOBE NEWSWIRE) -- Kay Properties has successfully completed the Cove Debt Free Tacoma Data Center DST in Tacoma, WA. This DST property was made available to accredited investors under Regulation D Rule 506c and had a total investment cost of $8,398,000.
The Tacoma Data Center DST is 100% leased and occupied by DaVita, Inc. It is a mission critical data center facility and is a High Tech Data Center that houses data center operations for DaVita’s West Coast operations. Additionally, it is well located in the Greater Seattle-Tacoma region, which is a steadily growing data center market, referred to as the "Cloud City".
Along with being a well-located and well-occupied property in the growing Seattle market the DST investment was made available to investors as an all-cash/debt-free program whereby the risks of financing have been removed from the equation.
Dwight Kay, Founder and CEO of Kay Properties commented, “We are pleased to have acquired this Data Center in Tacoma, WA and would like to thank our clients for the continued support and investments over the years.”
Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Kay Properties and Investments, LLC and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing.