Encore (a.k.a. The Encore)
Multifamily (Class-A luxury apartments) property in Belton, MO — sponsored by Passco Companies
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
Encore is a Class-A apartment community in Belton, Missouri, held in a Delaware Statutory Trust (DST) — a structure that lets 1031 exchangers own a fractional interest in real estate. Passco Companies is the sponsor; the Trust filed its Form D in January 2025 and is described in public marketplace material as a closed offering.1 NorthPoint Development built the 322-unit property, delivered in July 2023.2
Minimum investment
$25k
Offering size
$42.5M
How much has sold
None sold yet
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
NorthPoint Development built Encore on an 11.6-acre site at the south side of the 163rd Street and Turner Road intersection in Belton, Missouri.2 Cushman & Wakefield's listing for the same address records an improved-property sale closing on December 5, 2024, but names neither buyer, seller, nor price, so it does not by itself establish how or when the Trust took title.4 No primary record of the Trust's purchase price or closing date was located.
- Reported location
- Belton, MO
- Property size
- 322 units; 361,409 sq ft across 7 buildings (completed 2023, 96.27% occupied at launch); studio/1BR/2BR floor plans from 478–1,368 sq ft
Who is the tenant, and what's the lease?
There is no single corporate tenant here. Income comes from hundreds of individual apartment leases that turn over continually, so occupancy and rents reset with the local market rather than being locked in by one lease. Fogelman Management Group is identified as the community's property manager.3
How did it end?
Still operating
Trust still owns and operates the property; JRW Investments lists Passco Encore DST as 'Active' (not Full Cycle), and re-transition.com shows the offering as 'Closed Offering' (equity raise complete; trust still operating the 322-unit Encore community in Belton, MO).
Originally developed by NorthPoint Development on an 11.6-acre site at the south side of 163rd Street / Turner Road intersection in Belton, MO. Offering amount $50,725,000; Passco Companies is sponsor. Completed 2023 at 96.27% occupancy at launch.
322 units; 361,409 sq ft across 7 buildings (completed 2023, 96.27% occupied at launch); studio/1BR/2BR floor plans from 478–1,368 sq ftSupporting evidence
Counted on Passco Companies’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
The Form D says nothing about debt, and no primary record of a loan on the property was located. A public marketplace summary describes fixed-rate financing with an interest-only period before amortization begins, but that summary's capitalization figures conflict with other public figures and remain unreconciled.1
Who's behind it?
Passco Companies is the sponsor and the party that organized this Trust. It runs a multi-offering 1031 platform with a long list of DST programs on the SEC record, several of them still raising. Research through September 12, 2026 surfaced no sponsor-level development bearing on this Trust, and no full-cycle outcome has been reported for it.
- Sponsor
- Passco Companies
- 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?
The record holds a single Form D — the short federal notice an issuer files when it sells securities without registering them — and no amendments since. It was filed under Rule 506(c), which permits public advertising but requires the sponsor to take steps to verify that every investor is accredited.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- PASSCO ENCORE DST
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- 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
What happened to Encore (a.k.a. The Encore)?
Encore (a.k.a. The Encore) is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Encore (a.k.a. The Encore)?
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.
Can I still invest in Passco Encore DST?
No. Public marketplace material from Real Estate Transition Solutions describes the Passco Encore DST offering as closed, and the Top1031 pipeline classifies the raise as fully subscribed. Availability for any DST is set by the sponsor and its selling broker-dealers, not by the SEC record, so the Form D alone would not tell you either way.
What exactly does the Trust own?
Encore, a Class-A apartment community of 322 units and 361,409 square feet across seven buildings in Belton, Missouri, completed in 2023 with studio, one-bedroom, and two-bedroom floor plans. NorthPoint Development built it on an 11.6-acre site near the 163rd Street and Turner Road intersection.
Is the property financed with a mortgage?
The SEC record does not say. The Form D discloses no debt, and no primary loan record was located. A marketplace summary describes a fixed-rate loan with an initial interest-only period, but that summary's offering-size figures conflict with other public figures and have not been reconciled. Debt terms would be laid out in the private placement memorandum (PPM), the offering's full disclosure document.
Has this Trust gone full cycle?
No outcome has been reported. Public summaries describe the Trust as still operating, with no sale of the property or return of capital on record as of September 12, 2026.
What does Rule 506(c) mean for me as an investor?
506(c) is the exemption that lets a sponsor market an offering publicly — websites, ads, open listings — instead of only to pre-existing contacts. The trade-off is verification: every buyer must be an accredited investor, and the sponsor must confirm that with documents such as tax returns, brokerage statements, or a letter from your CPA or attorney, not just a checked box.
Who runs the property day to day?
Fogelman Management Group is identified as the manager of the Belton community. In a DST, investors hold passive beneficial interests and have no role in leasing, maintenance, or operations; those decisions sit with the trustee, the sponsor, and the property manager they engage.
Chapter 9Passco Encore DST (marketplace profile)Marketplace profile for Passco Encore DST — closed offering of $50,725,000, 322-unit multifamily community in Belton, MO, completed 2023 at 96.27% occupancy.