Passco Companies sold Broad River Trace, a 240-unit apartment community in Columbia, South Carolina, to Hamilton Point Investments on July 12, 2019. The property, at 551 Riverhill Circle, was the asset behind Passco Broad River DST, the offering registered with the SEC on September 28, 2012; its sale carried the Trust to full cycle.
The sale price was $24 million, according to Connect CRE, which reported the transaction.
Offering term (as filed) | |
|---|---|
Asset class | Residential (multifamily) |
Exemption | 506(b) |
Offering ceiling | $12,625,000 |
Minimum investment | $25,000 |
Measured from that 2012 SEC registration to the sale, the offering ran 6.8 years. Connect CRE reports a seven-year hold, a span measured from a starting point other than the registration date.
No total return, annualized return, or equity multiple for the offering appears in the public record. A Form D reports none of these, and no sponsor disposition statement putting a figure on the eventual result for investors is on file.