One Riverwalk
Multifamily property in Knoxville, TN — sponsored by Passco Companies
Files with the SEC as Passco West Knoxville DST
Minimum investment
$25k
Offering size
$31.8M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Knoxville, TN
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Passco West Knoxville DST is a Delaware statutory trust — the structure that lets 1031 exchange investors hold fractional interests in one property — organized by Passco Companies to hold One Riverwalk, a 303-unit apartment community on Knoxville's South Waterfront completed in 2019.1 Passco acquired the property with joint-venture partner Greystone in April 2023. One Form D, filed in 2023, is the only filing on record.
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These links support the historical public record; 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?
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
Who is the tenant, and what's the lease?
This is an apartment community, so there is no single corporate tenant — income comes from many short-term resident leases rather than one long-term contract, and it reprices as those leases roll. Passco said it would retain Greystar's onsite management team.2
How did it end?
No sale or other ending on record
Passco's official 'Our Properties' page, labeled 'Current managed portfolio as of June 30, 2026,' lists One Riverwalk (Knoxville, TN) as part of the active portfolio, supporting still_operating for Passco West Knoxville DST; no full-cycle sale or disposition announcement naming the DST was found in reviewed sources [1][2][3][4].
303-unit Class A luxury multifamily community (One Riverwalk), built 2019, located in Knox County within the Knoxville MSA. Acquired April 2023 for $120.7M by Passco and JV partner Greystone; 97% occupied at acquisition.
303 unitsSupporting evidence
How is it financed, and what does it pay?
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.
Who's behind it?
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
- Passco Companies
- Legal Trust name
- Passco West Knoxville 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?
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.
- Form D filedFirst and latest filing on record.
- 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 One Riverwalk?
Top1031 lists One Riverwalk as historical. It is no longer raising money.
Where does Top1031 get the data for One Riverwalk?
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 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.
Is this Trust still open to new investors?
The public record does not say. Passco filed one Form D on May 2, 2023 and has never amended it, and no later SEC filing or third-party source located reports how much equity was ultimately placed or when the offering closed. Anyone considering it would need current confirmation from the sponsor and the private placement memorandum (PPM), the offering document that carries the actual terms.
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 PPM 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.
Chapter 9Passco, Greystone Acquire Knoxville Luxury Asset for $121MTrade-press coverage of Passco/Greystone's acquisition of One Riverwalk, a 303-unit luxury multifamily community in Knoxville, TN for $121M. Passco Closes On Largest Apartment Acquisition In Passco HistoryPassco and JV partner Greystone acquired One Riverwalk, a 303-unit luxury multifamily community in Knoxville, TN for $120.7M; built 2019, 97% occupied at acquisition.