Top1031
Sundance Creek Townhomes
Multifamily property in Mcdonough, GA · sponsored by Passco Companies
Historical · soldSold Aug 2016, as reported by Passco Companies · last Form D Sep 23, 2010Sponsor source (opens in a new tab)
Sundance Creek Townhomes was a DST sponsored by Passco Companies that owned a multifamily property in Mcdonough, GA (232 units). Passco Companies sold the property in Aug 2016, as reported by the sponsor.
How it ended
Sold, result reported by the sponsor
Sold Aug 2016.
- Date
- Aug 1, 2016
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $10,750,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Sep 23, 2010)Form D, Sep 23, 2010
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,021,250 · 9.5% 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(b)General advertising and solicitation are not permitted under this exemption.
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: Sundance Creek Townhomes. Top1031 is not a broker-dealer.What did Sundance Creek Townhomes own?
The community stands at 575 McDonough Parkway in Henry County, south of Atlanta, and was built in 2004. 2 Passco Companies bought it in 2010 out of foreclosure for $14.5 million. 1 Passco then rebranded the property from Oxford Creek and added interior and exterior work, a dog park and a cyber café. 3
- Reported location
- Mcdonough, GA
- Property size
- 232 units
How was it financed, and what did it cost to sell?
Nothing in the reviewed public record describes this Trust's capital stack: no lender, loan terms, or leverage figures appear in the Form D or in the sponsor materials located.
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
- $1,021,250 · 9.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,530,476 · 23.5% of offeringForm D Item 16· The filing’s note: “Passco Sundance Creek Depositor will be responsible for paying certain fees and costs in the amount of approximately $2,181,444. The total amount anticipated to be retained is $349,032.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Passco Capital, Inc. · CRD 117323
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 Sundance Creek Townhomes?
Passco Companies is a real estate investment and management firm headquartered in Irvine, California, where this Trust's Form D lists its address at 96 Corporate Parkway. 4 Passco bought the McDonough asset directly in 2010 and announced its sale roughly six years later, reporting a 60% price increase over the purchase price. 1 The firm continues to sponsor 1031 exchange offerings today.
- Sponsor
- Offerings on record
What does the SEC record show?
Passco filed a Form D new notice for this Trust and no amendment appears in the reviewed EDGAR history. It was offered under a private-placement exemption that bars general advertising and limits buyers to accredited investors — those meeting SEC income or net-worth tests. EDGAR's entity page now displays a statement that the company's Exchange Act registration has been revoked. 5
- Legal Trust name
- Passco Sundance Creek DST
- SEC CIK
- 1501991
- First Form D
- Sep 23, 2010
- Latest Form D
- Sep 23, 2010
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $10,750,000 | $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 Sundance Creek Townhomes?
- Sundance Creek Townhomes is a Historical offering. Sold Aug 2016, as reported by Passco Companies.
- What did the Trust own?
- Sundance Creek, a townhome-style apartment community at 575 McDonough Parkway in McDonough, Henry County, Georgia, south of Atlanta. The property was built in 2004 and comprises 232 units. Passco acquired it out of foreclosure in 2010 for $14.5 million and rebranded it from Oxford Creek.
- Did this Trust go full cycle, and what was the result?
- Passco reported selling the property after about a six-year hold at a 60% increase over its acquisition cost. Its prior-performance table records a July 15, 2016 sale and a 12.33% average annual return, as reported by the sponsor. Baker 1031 separately reproduces a 2.01x equity multiple as sponsor-reported, not independently verified.
- Was the Trust leveraged?
- Unknown from public sources. The 2010 Form D, the sponsor's executive summary and the trade press reviewed do not name a lender, state loan terms, or give a loan-to-value figure. A buyer would have had to read the offering documents for the debt terms.
- Why does the SEC page show a revoked registration?
- EDGAR's entity landing page for Passco Sundance Creek DST displays a statement that the company's Exchange Act registration has been revoked. That is the SEC's display language as recorded; it does not by itself establish dissolution, a sale outcome, or who owns the property today.
- Does Passco Companies still sponsor 1031 offerings?
- Yes. Passco Companies remains an active Delaware statutory trust sponsor, and other Passco offerings appear elsewhere in this directory with their own filing records.
In the news
As reported by the sponsor · Passco Companies ↗
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.