Top1031

Marcus Pointe Grande

Multifamily property in Pensacola, FL · sponsored by Passco Companies

HistoricalLast Form D filed Apr 5, 2011 (opens in a new tab)

Marcus Pointe Grande was a DST sponsored by Passco Companies that owned a multifamily property in Pensacola, FL (248 units). Its last Form D was filed Apr 5, 2011.

How it ended

No public outcome found

Last Form D filed Apr 5, 2011.

Passco Companies has 4 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$11,700,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Apr 5, 2011)
Form D, Apr 5, 2011
Selling commissions
$1,111,500 · 9.5% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Marcus Pointe Grande. Top1031 is not a broker-dealer.

What did Marcus Pointe Grande own?

The Trust's own filings establish only that it is a Delaware statutory trust organized in 2010 and offered the following spring; they name no street address, purchase price, or closing date. 1 Separate property records describe a Marcus Pointe Grande apartment community at 6111 Enterprise Drive in Pensacola, Florida, two stories, built in 2005. 4 No public source bridges that address to this Trust, so ownership is unresolved in the record.

Reported location
Pensacola, FL
Property size
248 units

How was it financed, and what did it cost to sell?

The Form D discloses nothing about debt — no lender, no loan amount, no indication of whether the Trust used leverage at all — so the capital structure is simply unresolved in the public record. 1

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$1,111,500 · 9.5% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$3,480,476 · 29.7% of offering
Form D Item 16
· The filing’s note: “Passco Marcus Pointe Depositor will be responsible for paying certain fees and costs in the amount of approximately $3,116,013. The total amount anticipated to be retained is $364.463.”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
Minimum investment
$25,000

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

No amendment ever followed the original Form D, so every figure in the public record — amount sold, investor count, offering size — is frozen as of that 2011 filing date. The Trust was offered under the private-placement exemption that bars general advertising and limits purchasers to accredited investors, typically ones with a pre-existing relationship to the sponsor.

Legal Trust name
Passco Marcus Pointe DST
SEC CIK
1517410
First Form D
Apr 5, 2011
Latest Form D
Apr 5, 2011
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$11,700,000
$0
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

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.

Common questions

What happened to Marcus Pointe Grande?
Marcus Pointe Grande is a Historical offering. Last Form D filed Apr 5, 2011.
What property does this Trust own?
The public filings never say. The Form D identifies the Trust as a Delaware statutory trust organized in 2010 but names no address, price, or closing date. Property databases describe a 2005-built apartment community called Marcus Pointe Grande at 6111 Enterprise Drive in Pensacola, Florida, and no public source ties that property to this Trust's SEC filer.
Was there ever a reported outcome for this deal?
Nothing in the SEC record reports an outcome. Baker 1031 Investments publishes a property-level full-cycle table containing a row labeled "Marcus Pointe, Pensacola, FL," but that row does not identify this Trust's CIK or the Enterprise Drive address, so it cannot be attributed to this Trust. No outcome has been reported for CIK 1517410 itself.
Why is there so little information about this Trust?
Because a DST sponsor's only mandatory SEC filing is the Form D, a short notice of an exempt offering. This Trust filed one in April 2011 and never amended it, and there is no annual reporting requirement. Everything else — property, debt, fees, and performance — lives in the offering documents and sponsor reports that only investors and their representatives receive.

Sources

Show sources (11)Hide sources (11)

These links support the record as a whole; individual details may come from different sources.

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 offering documents before investing.