One Riverwalk
Multifamily property in Knoxville, TN · sponsored by Passco Companies
One Riverwalk was a DST sponsored by Passco Companies that owned a multifamily property in Knoxville, TN (303 units). Its last Form D was filed May 2, 2023.
How it ended
No outcome recorded · under 7 years
Last Form D filed May 2, 2023.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $31,800,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (May 2, 2023)Form D, May 2, 2023
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,782,500 · 8.7% of offering
- 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(c)May be advertised publicly. Every buyer’s accredited status must be verified.
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: One Riverwalk. Top1031 is not a broker-dealer.What did One Riverwalk own?
One Riverwalk stands at 151 E. Blount Ave. on Knoxville's South Waterfront, developed and built by Southeastern and completed in 2019. 1 The two-building community occupies 3.35 acres. 2 Passco Companies acquired it with joint-venture partner Greystone in April 2023 for $120.7 million, 97 percent occupied at closing. Knox County property-record reporting put the price at $124 million. 2
- Reported location
- Knoxville, TN
- Property size
- 303 units
How was it financed, and what did it cost to sell?
Passco reported assuming the property's existing 10-year Freddie Mac mortgage of $64.29 million rather than placing new debt. 3 That is property-level leverage: the asset carries a mortgage, and the Form D itself sets out no trust-level loan terms.
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
- $2,782,500 · 8.7% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $5,896,600 · 18.5% of offeringForm D Item 16· The filing’s note: “Passco West Knoxville Depositor, LLC will be responsible for paying certain fees and costs of approximately $4,235,350.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Passco Capital, Inc. · CRD 117323
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.
Who's behind One Riverwalk?
Passco Companies is a real estate sponsor that acquires apartment communities and packages properties for 1031 exchange investors. The firm described One Riverwalk as the largest apartment acquisition in its history. 3 Two affiliates, Passco West Knoxville Depositor, LLC and Passco West Knoxville Manager, LLC, appear as promoters on the Form D alongside Passco Companies, LLC. 4 Passco's managed portfolio still listed One Riverwalk as of June 30, 2026. 5
- Sponsor
- Offerings on record
What does the SEC record show?
No amendment has followed the original Form D, so the public record here is a single snapshot taken days after the acquisition. Because the offering uses the exemption that permits public advertising, each investor's accredited status must be independently verified rather than self-certified. The filing names no property; the link to One Riverwalk rests on sponsor and press reporting.
- Legal Trust name
- Passco West Knoxville DST
- SEC CIK
- 1967922
- First Form D
- May 2, 2023
- Latest Form D
- May 2, 2023
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $31,800,000 | $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 One Riverwalk?
- One Riverwalk is a Historical offering. Last Form D filed May 2, 2023.
- What property is behind Passco West Knoxville DST?
- One Riverwalk, a 303-unit apartment community at 151 E. Blount Ave. on Knoxville's South Waterfront in Tennessee, developed and built by Southeastern and completed in 2019. Passco Companies acquired it with joint-venture partner Greystone in April 2023 for $120.7 million, when it was 97 percent occupied. The Form D does not name the property; the match comes from sponsor and press coverage.
- Who runs the apartments day to day?
- The Knoxville News Sentinel reported on November 17, 2023 that Passco would retain Greystar's onsite management team at the property. Passco Companies remains the sponsor, and Passco's managed portfolio page still listed One Riverwalk as of June 30, 2026.
- What debt sits on the property?
- Passco reported assuming an existing 10-year Freddie Mac loan of $64.29 million rather than originating new financing at acquisition. Reporting on the transaction is not fully consistent about which agency backed the loan, and the Form D discloses no trust-level financing terms, so the loan documents summarized in the offering documents are the governing source.
- Why do published sale prices for One Riverwalk differ?
- Passco's own announcement and trade coverage report $120.7 million to $121 million. Knox County property-record reporting by the Knoxville News Sentinel cited $124 million and an October 31 transfer date. Both figures are preserved here as source-specific claims; recorded deed data and press summaries of a joint-venture purchase do not always describe the same consideration.
- What does the DST structure mean for a 1031 exchange?
- A Delaware statutory trust holds title to the real estate and issues beneficial interests that the IRS treats as replacement property for a 1031 exchange. Investors do not manage the asset, cannot vote on operations, and rely on the trustee and sponsor. Top1031 is a data directory; it does not sell or recommend any offering.
In the news
Sources
Show sources (7)Hide sources (7)
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.