Top1031

One Riverwalk

Multifamily property in Knoxville, TN — sponsored by Passco Companies

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These links support the historical public record; individual details may come from different sources.

Chapter 1

What is this, in one paragraph?

One Riverwalk is a 303-unit apartment community in Knoxville, Tennessee, held in a Delaware Statutory Trust (DST) — a structure that lets 1031 exchangers own a fractional interest in real estate.2 Passco Companies and joint-venture partner Greystone acquired it in late 2023.1 The Trust is offered to accredited investors, with up to $74.7 million sought.

Minimum investment
$25k
Offering size
$74.7M
How much has sold
1.0%
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.

Chapter 2

What exactly is the property?

The community stands at 151 E. Blount Ave. in Knoxville, Tennessee.2 Passco describes two five-story buildings on a 3.35-acre riverfront site, with studio, one- and two-bedroom units averaging 884 square feet.1 It was built in 2019 and, according to Passco, reached stabilization in 2020.1 WBIR reported a warranty deed dated October 31, 2023 transferring the property from an Augusta, Georgia LLC to Passco One Riverwalk, an Irvine, California LLC.5

Reported location
Knoxville, TN
Property size
303 units
Chapter 3

Who is the tenant, and what's the lease?

There is no single tenant here: income comes from apartment residents, and the property's official FAQ lists lease options of 6 to 15 months.3 AltsWire reported the community was 97% occupied when Passco bought it.4 Knox News reported that Passco planned to keep the onsite team from Greystar.9

Chapter 4

How did it end?

What happened

Still operating

Trust's property (One Riverwalk, 303-unit luxury multifamily, Knoxville, TN, acquired Nov 2023 for ~$120.7M) remains in Passco's current managed portfolio as of December 31, 2025, and JRW shows the One Riverwalk DST as Active/Reviewed with 4.74% annual cash flow [1][2][4].

Two five-story residential buildings with a mix of studio, 1-, and 2-bedroom units averaging ~884 sq ft. Acquired jointly by Passco Companies and Greystone for $124.1M (Passco/One Riverwalk press release) or reported as ~$120.7M by Multi-Housing News. Passco One Riverwalk DST raised up to ~$74.7M from accredited investors. The property was built in 2019 and was 97% occupied at acquisition. Price per unit reported near $410,000.

303 units
Supporting evidence
Counted on Passco Companies’s Record Card as: No outcome recorded · under 7 years Document
Chapter 5

How is it financed, and what does it pay?

Rather than placing new debt, the buyers took the property subject to the existing fixed-rate agency loan, so the Trust inherits terms set before the 2023 sale.1 Sources conflict on the program: Passco's release describes a Freddie Mac loan of roughly $64.29 million, while a December 4, 2023 trade report identifies Fannie Mae.7

Chapter 7

What does the paperwork say?

The Trust is offered under Rule 506(c), which permits public advertising but requires the sponsor to verify each buyer's accredited status. The Form D records a first sale on November 9, 2023 and a $25,000 minimum, and stated the issuer did not intend the offering to last more than one year.6 No amendment has followed.

  1. Form D filedFirst and latest filing on record.
Legal Trust name
Passco One Riverwalk 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.

Chapter 8

Common questions

What happened to One Riverwalk?

One Riverwalk 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 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.

Where is the property?

One Riverwalk is at 151 E. Blount Ave. in Knoxville, Tennessee, on the Tennessee River waterfront.[2] Passco describes the 303-unit community as two five-story buildings on a 3.35-acre site, with studio, one- and two-bedroom units averaging 884 square feet.[1]

What did Passco and Greystone pay for One Riverwalk?

Sources do not agree. Passco's own acquisition release reports the transaction at $120.7 million.[1] WATE, citing the recorded sale, reported $124,070,625.[10] AltsWire reported approximately $124.1 million.[4] Knox News reported a price per unit near $410,000.[9] Top1031 has not resolved the difference.

Is this Trust still accepting investors?

The SEC record contains a single Form D, filed November 14, 2023, with no amendment since. That filing said the issuer did not intend the offering to last more than one year.[6] Because DST sponsors are not required to file a closing amendment, current availability should be confirmed directly with Passco Companies or the selling broker-dealer.

Who is the tenant?

There is no single corporate tenant. This is an apartment community, so revenue comes from residents on short leases — the property's official FAQ lists 6- to 15-month terms.[3] AltsWire reported the community was 97% occupied at acquisition.[4] Knox News reported in September 2019 that Greystar managed the property at opening, and reported on November 17, 2023 that Passco intended to retain the onsite team.[9]

What debt is on the property?

The buyers assumed the existing fixed-rate agency loan rather than originating new financing. Passco's release describes it as a 10-year Freddie Mac loan of about $64.29 million with more than three years of interest-only payments remaining.[1] A December 4, 2023 trade report describes the same loan as Fannie Mae debt of $64.3 million.[7] The exact program is unresolved in public sources; the PPM governs.

Can investors roll into a REIT at the end?

Nothing in the public record for this Trust indicates a 721/UPREIT exit — the structure in which a Trust's property is contributed to a REIT's operating partnership in exchange for units. Exit mechanics are set out in the private placement memorandum (PPM), the offering document delivered to prospective investors.

Chapter 9

In the news

Chapter 11

What can I do next?

Check the source documents, compare this offering with other public records, or ask a licensed specialist about the facts shown here.