Sawgrass Point
Multifamily property in Gonzales, LA · sponsored by Passco Companies
Sawgrass Point was a DST sponsored by Passco Companies that owned a multifamily property in Gonzales, LA (272 units). Its last Form D was filed Sep 15, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Sep 15, 2022.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $59,775,000Equity offered, per the Form D
- Sold
- Not reported in its Form D filings (latest Sep 15, 2022)Form D, Sep 15, 2022
- Investors reported
- Form D, Sep 15, 20223
- Selling commissions
- Form D Item 15; the % is our arithmetic$5,230,313 · 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 →
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Ask a 1031 specialist about this recordFree. About: Sawgrass Point. Top1031 is not a broker-dealer.Sawgrass Point · Gonzales, LA · Photo: arlingtonproperties.net
What did Sawgrass Point own?
Doster Construction reported completing the Sawgrass Point apartment community in Gonzales, Louisiana on April 24, 2020. 2 Passco Companies' purchase of it was reported in May 2022, one of two Louisiana apartment communities bought in the Baton Rouge submarket. 1 Passco describes the property as Class AA at 2163 Veterans Boulevard, managed by Arlington Properties, with occupancy of 97% or higher since lease-up. 3
- Reported location
- Gonzales, LA
- Property size
- 272 units
How was it financed, and what did it cost to sell?
Neither Form D names a lender, states a loan balance, or indicates whether the Trust used debt at all, and no offering documents are public. The capital structure sits outside the public record and would have to come from the sponsor's offering documents.
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
- $5,230,313 · 8.7% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $7,190,995 · 12.0% of offeringForm D Item 16· The filing’s note: “Passco Sawgrass Depositor, LLC will be responsible for paying certain fees and costs of approximately $6,890,995.”
- Broker-dealers named in the Form D
- 25 named in the Form D
Show the firms
- Berthel, Fisher & Company Financial Services, Inc. · CRD 13609
- Cabot Lodge Securities LLC · CRD 159712
- Centaurus Financial, Inc. · CRD 30833
- Colorado Financial Service Corporation · CRD 104343
- Concorde Investment Services, LLC · CRD 151604
- Courtlandt Securities Corporation · CRD 137356
- Crown Capital Securities, L.P. · CRD 6312
- DAI Securities, LLC · CRD 36673
- DFPG Investments, LLC · CRD 155576
- Emerson Equity LLC · CRD 130032
- Great Point Capital LLC · CRD 114203
- Huntwicke Securities, LLC · CRD 146993
- JRL Capital Corporation · CRD 10225
- Kalos Capital, Inc. · CRD 44337
- Lightpath Capital, Inc. · CRD 34617
- McDermott Investment Services, LLC · CRD 154926
- National Securities Corporation · CRD 7569
- NexTrend Securities, Inc. · CRD 43710
- Passco Capital, Inc. · CRD 117323
- RCX Capital Group, LLC · CRD 114290
- Somerset Securities, Inc. · CRD 2493
- Titan Securities · CRD 131392
- Triad Advisors LLC · CRD 25803
- Wealthforge Securities, LLC · CRD 152550
- Whitehall-Parker Securities, Inc. · CRD 10608
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 Sawgrass Point?
Passco Companies sponsors Delaware statutory trust offerings and has been an active multifamily buyer across the Gulf South. In May 2022 it expanded in Louisiana with two luxury apartment acquisitions totaling roughly 600 units, Sawgrass Point among them. 3 Passco's managed-portfolio page, stated as of June 30, 2026, still lists Sawgrass Point in Gonzales. 5
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust is offered under Rule 506(c), the private-placement exemption that permits public advertising so long as the sponsor verifies every buyer is an accredited investor. The September 2022 amendment refiled the same offering terms and commission estimate rather than marking a new stage, and no later filing appears on the SEC record.
- Legal Trust name
- Passco Sawgrass DST
- SEC CIK
- 1928220
- First Form D
- Jul 1, 2022
- Latest Form D
- Sep 15, 2022
- Filings on record
- 2
- 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 | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $59,775,000 | $0 | 3 | EDGAR | |
| Form D | $59,775,000 | $0 | 3 | 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 Sawgrass Point?
- Sawgrass Point is a Historical offering. Last Form D filed Sep 15, 2022.
- What does this Trust actually own?
- Sawgrass Point, a 272-unit Class AA apartment community at 2163 Veterans Boulevard in Gonzales, Louisiana, part of the Baton Rouge area. Doster Construction reported finishing construction on April 24, 2020, and Passco Companies' acquisition was reported in May 2022 as one of two Louisiana communities purchased together.
- What is the minimum investment?
- The Form D reports a $25,000 minimum investment, and the offering is made under Rule 506(c), meaning it is limited to accredited investors whose status the sponsor must verify rather than simply accept on a signed representation.
- Who runs the property day to day?
- Arlington Properties. Passco named Arlington as the manager in its acquisition announcement, and Arlington publicly announced adding the 272-unit, 2020-built Sawgrass Point to its management portfolio on November 14, 2023.
- What is not disclosed publicly about this Trust?
- A great deal. The purchase price, the closing date, the lender, the loan amount, the leverage level, the expected hold period, and any distribution terms do not appear in the Form D filings or in located third-party reporting. Those items live in the offering documents, which are delivered privately to accredited investors.
- Can this Trust convert into a REIT interest later?
- The record shows no 721/UPREIT exit — the arrangement in which DST interests are eventually contributed to a REIT operating partnership in exchange for OP units. Nothing in the filings indicates that path for this Trust.
In the news
Sources
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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.