Allure at Edinburgh
Multifamily property in Chesapeake, VA — sponsored by Passco Companies
Files with the SEC as Passco Allure DST
Minimum investment
$25k
Offering size
$58.6M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Chesapeake, VA
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Passco Allure DST is a Delaware statutory trust — fractional, passive ownership of a single property, structured so interests qualify for 1031 exchange treatment — holding Allure at Edinburgh, a Class A apartment community in Chesapeake, Virginia, in the Hampton Roads market. Passco Companies bought it from Virginia Beach-based Venture Realty Group in a Berkadia-arranged sale that closed April 30, 2026.1 The Trust is raising equity privately from accredited investors.
Newly delivered Class A community, Hampton Roads MSA; acquisition closed Apr 2026; $58.6M Form D (506b)
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The community was delivered in phases across 2024 and 2025.4 Venture Realty Group sold it to Passco Companies in a Berkadia-arranged transaction that closed April 30, 2026 at a price the parties did not disclose.1 Multi-Housing News reported the property was 99 percent occupied at the time of that sale.4
- Property address
- 249 Allure Ln, Chesapeake, VA
- Property size
- 280 units
Who is the tenant, and what's the lease?
No single business tenant stands behind the rent here: income comes from individual apartment households on short residential leases that reprice as they roll. Sponsor materials describe a master lease under which a Passco-affiliated master tenant operates the community and remits rent to the Trust, with Arlington Properties handling day-to-day management.2
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
This is a leveraged Trust rather than an all-cash one: mortgage debt sits ahead of investor equity, is serviced out of property cash flow, and comes due at maturity. Sponsor materials describe a $48,350,000 fixed-rate loan from KeyBank, National Association under Fannie Mae's DUS program, and state the Trust cannot refinance it.2
Who's behind it?
Passco Companies is an Irvine, California-based real estate investment firm whose predecessor began sponsoring real estate programs in 1998.2 It buys multifamily communities and syndicates them to 1031 exchange investors; here a Passco-affiliated master tenant operates the property while investors stay passive.2 On May 8, 2026 the sponsor announced it had closed more than $300 million of first-quarter 2026 transactions, this Chesapeake community among them.
- Sponsor
- Passco Companies
- Legal Trust name
- Passco Allure DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 4 active / 31 total offerings from Passco Companies
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Only the initial new-issue notice is on record — not an amendment — and the issuer indicated the offering was not intended to last more than one year.3 Interests are placed privately, without general advertising, with accredited investors: those meeting SEC income or net-worth tests.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Allure at Edinburgh still raising money?
Top1031 lists Allure at Edinburgh as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Allure at Edinburgh?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust actually own?
One asset: Allure at Edinburgh, a Class A apartment community at 249 Allure Lane in Chesapeake, Virginia, within the Hampton Roads market. Berkadia reported that Passco Companies bought it from Virginia Beach-based Venture Realty Group in a sale that closed April 30, 2026 at an undisclosed price, and that Arlington Properties took over property management. Multi-Housing News reported the community was completed in phases across 2024 and 2025 and was 99 percent occupied at the time of sale.
Does the Trust carry debt, and who is the lender?
Yes. Sponsor materials published by Baker 1031 and updated August 10, 2026 describe a $48,350,000 property-level loan from KeyBank, National Association under the Fannie Mae DUS program, fixed at 4.98%, with a 10-year term maturing May 1, 2036, a seven-year interest-only period and 30-year amortization; those materials state in-place loan-to-value of 45.22% and total capitalization of $106,925,000, and say the Trust cannot refinance the loan. The Form D on record discloses no financing terms. The loan documents and the private placement memorandum (PPM) — the governing offering document — control.
Why do some sources say 288 units instead of 280?
Berkadia's sale announcement and the sponsor's offering materials both describe Allure at Edinburgh as a 280-unit community. A separate August 11, 2025 lease-up release from Drucker + Falk, which managed the property before the sale, describes it as 288 apartments. The discrepancy has not been reconciled in public sources; the unit count in the PPM governs.
How much of the offering has been placed?
The only filing on record is the Form D new-issue notice filed May 20, 2026, and any placement figures shown on this page come from that single dated snapshot, at which point the issuer reported that the first sale had not yet occurred. No later amendment had been filed as of August 23, 2026, and Form D amendments can lag actual subscriptions by weeks or months, so the SEC record is not proof of current status. Ask the sponsor or your representative for equity remaining as of today.
Who financed the development, and was that capital repaid at the sale?
AH Realty Trust reported on August 3, 2026 that it fully realized its $17.2 million real estate financing investment in The Allure at Edinburgh on April 30, 2026 — the same day the sale to Passco Companies closed — and used the proceeds to pay down its own debt. That was capital in the prior owner's development structure, not part of this Trust's capitalization.
Can this Trust convert into a REIT through a 721/UPREIT exit?
The record here shows no 721/UPREIT feature — the structure in which investors exchange property interests for operating-partnership units in a REIT, converting a real estate holding into a securities position. Exit mechanics, including any sale for cash, are set out in the PPM and should be read there.
Chapter 9Berkadia Arranges Sale of Allure at Edinburgh in Chesapeake, VirginiaBerkadia arranged the sale of Allure at Edinburgh, a 280-unit multifamily community in Chesapeake, Virginia, providing transaction coverage relevant to the underlying property held by Passco Allure DST. Passco Companies Closes Over $300 Million in Q1 2026; Acquires Allure at Edinburgh in Chesapeake, VAPassco announced it acquired Allure at Edinburgh in Chesapeake, VA, and closed over $300 million in Q1 2026 transactions. Passco Cos. Buys Hampton Roads CommunityPassco Cos. purchased Allure at Edinburgh, a 280-unit luxury community in Chesapeake, VA; Berkadia arranged the sale and the property was completed in phases across 2024-2025. Berkadia Arranges Sale of Luxury Multifamily Community in Chesapeake, VirginiaBerkadia announced it arranged the sale of Allure at Edinburgh, a newly delivered 280-unit Class A multifamily community in Chesapeake, VA, sold by Venture Realty Group to Passco Companies.