Top1031

Slate at Merrimack

Multifamily property in Merrimack, NH · sponsored by Passco Companies

HistoricalLast Form D filed Mar 19, 2025 (opens in a new tab)

Slate at Merrimack was a DST sponsored by Passco Companies that owned a multifamily property in Merrimack, NH (224 units). Its last Form D was filed Mar 19, 2025.

How it ended

No outcome recorded · under 7 years

Last Form D filed Mar 19, 2025.

Passco Companies has 4 active offerings on record →

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$53,225,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Mar 19, 2025)
Form D, Mar 19, 2025
Selling commissions
$4,071,713 · 7.6% 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(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: Slate at Merrimack. Top1031 is not a broker-dealer.

What did Slate at Merrimack own?

Slate at Merrimack is a 100% market-rate luxury apartment community constructed in 2023 and now held by this Trust. 2 RealtyMogul's offering page reported the property 92.4% occupied as of February 18, 2025, describing it as stabilized following lease-up. 6 Public sources differ on the exact street address, and no acquisition date or purchase price appears in the entity-specific records reviewed.

Property address
30 Continental Boulevard, Merrimack, NH
Property size
224 units

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

RealtyMogul's offering page describes the Trust as leveraged — the property carries mortgage debt alongside investor equity, which is how a DST can supply the replacement debt a 1031 exchange often requires. 5 The lender, loan amount and loan terms were not found in public records.

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
$4,071,713 · 7.6% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$7,883,679 · 14.8% of offering
Form D Item 16
· The filing’s note: “Passco Merrimack Depositor, LLC will be responsible for paying certain fees and costs of approximately $7,483,679.”
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.

What does the SEC record show?

The Trust has never amended its initial filing, so EDGAR shows no update to the Offering's progress since it was first reported. It is offered under the SEC rule permitting general solicitation — public advertising — provided the sponsor verifies each investor's accredited status, and Passco's website lists the Offering as closed to new investors.

Legal Trust name
PASSCO MERRIMACK DST
SEC CIK
2058955
First Form D
Mar 19, 2025
Latest Form D
Mar 19, 2025
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$53,225,000
$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 Slate at Merrimack?
Slate at Merrimack is a Historical offering. Last Form D filed Mar 19, 2025.
What is the minimum investment?
The Form D filed March 19, 2025 reports a $25,000 minimum outside investment. RealtyMogul's page for the same trust listed a $100,000 minimum, which is typical of platform-specific allocations. The offering documents control, and minimums can differ by distribution channel.
Can I roll into a REIT through a 721/UPREIT exit?
Our record for this Trust shows no REIT conversion feature. RealtyMogul's page described 721 treatment — the exchange of DST interests for operating-partnership units in a REIT — as optional for this offering. The two sources conflict, and the offering documents are the only documents that settle whether such a right exists.
Who runs the property day to day?
Greystar, one of the largest apartment operators in the United States, is identified as the property manager for Slate at Merrimack. In a DST, investors hold passive beneficial interests and have no role in leasing, maintenance, or budgeting; the sponsor's trust manager and its third-party property manager make those decisions.
What does the SEC filing actually tell me about this deal?
The Form D filed March 19, 2025 states the offering size, the minimum investment, sales commissions, and that Passco Companies, LLC, Passco Merrimack Depositer, LLC, and Passco Merrimack Manager, LLC are promoters or related persons. A Form D is a short notice of an exempt offering — it carries no property details, no debt terms, and no projections. Everything about the building, the loan, and the hold period comes from the offering documents.

In the news

Sources

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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.