Slate at Merrimack
Multifamily property in Merrimack, NH — sponsored by Passco Companies
Show sources (10)Hide sources (10)
These links support the historical public record; individual details may come from different sources.
- RealtyMogul (sponsor-supplied offering page) ↗
- Top1031 sponsor-linked record ↗
- U.S. Securities and Exchange Commission, Form D ↗
- RealtyMogul (sponsor-supplied offering page) ↗
- RealtyMogul (sponsor-supplied offering page) ↗
- RealtyMogul (sponsor-supplied offering page) ↗
- passco.com ↗
- passco.com ↗
- streetinsider.com ↗
- yieldpro.com ↗
What is this, in one paragraph?
Passco Merrimack DST is a Delaware Statutory Trust — a structure that lets 1031 exchange investors own fractional interests in institutional real estate — formed by Passco Companies to hold Slate at Merrimack, an apartment community in Merrimack, New Hampshire, built in 2023.2 It is a multifamily deal, so income comes from resident leases rather than one corporate tenant. A single Form D is on the public record.
Minimum investment
$25k
Offering size
$53.2M
How much has sold
None sold yet
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.
What exactly is the property?
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
Who is the tenant, and what's the lease?
An apartment property has no single tenant: each household signs a short-term lease that reprices at renewal, so income tracks the local rental market rather than one corporate credit. Greystar, a national apartment operator, is identified as the property manager.1
How did it end?
Still operating
Trust still owns and operates the property; JRW Investments lists Passco Merrimack DST as 'Active' (not Full Cycle), and re-transition.com shows the offering as 'Closed Offering' (equity raise complete; trust still operating the 224-unit Merrimack, NH community). Note: a March 2025 'SLATE at Merrimack' sale (by LeCesse Development) is a different property and is not related to this DST.
224-unit luxury apartment community, Merrimack, NH · Passco Merrimack DST (Slate at Merrimack) - 224-unit, 100% market-rate luxury apartment community at 30 Continental Boulevard, Merrimack, NH; total offering ~$53.2M; equity ~$42.5M; Passco DST program; CBRE arranged the acquisition sale. Status: Closed Offering per Passco website.
224 unitsSupporting evidence
Counted on Passco Companies’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
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.
Who's behind it?
Passco Companies sponsors Delaware Statutory Trust offerings for 1031 exchange investors, largely apartment communities, through a program that has produced multiple trusts. For this deal the Form D names Passco Companies, LLC alongside two single-purpose affiliates, Passco Merrimack Depositer, LLC and Passco Merrimack Manager, LLC, as promoters — the entities that assemble and manage the Trust.3 No later entity-specific sponsor developments surfaced in the material reviewed.
- Sponsor
- Passco Companies
- 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?
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.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- PASSCO MERRIMACK 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.
Common questions
What happened to Slate at Merrimack?
Slate at Merrimack 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 Slate at Merrimack?
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.
Is this Trust still accepting new investors?
The record is conflicting. Passco's own website lists the Passco Merrimack DST offering as closed, while a RealtyMogul investment page for the same trust was labeled "Open for Pledging."[4] Only one Form D, filed March 19, 2025, exists on EDGAR, and it has never been amended, so the SEC record settles nothing either way. Confirm current availability directly with the sponsor or your representative.
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.[5] The Private Placement Memorandum — the offering's governing legal document — controls, 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.[5] The two sources conflict, and the PPM is the only document that settles 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.[1] 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.[3] 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 PPM.
Chapter 9CBRE Arranges Sale of Slate at Merrimack – 224-Unit Luxury Apartment Community Located in Merrimack, New HampshireCBRE arranged the sale of Slate at Merrimack, a 224-unit, 100% market-rate luxury apartment community in Merrimack, NH (acquired by Passco for its DST program).