The Summit at Fritz Farm, the Lexington, Kentucky mixed-use development that includes the 306-unit The Henry at Fritz Farm apartments, was acquired by Hendricks Commercial Properties in May 2025, announced in the buyer's press release dated May 15, 2025. The Henry was the residential asset Passco Companies offered to accredited investors through Passco Fritz Farm DST, a 506(b) trust first filed on March 27, 2019.
The recorded seller was not Passco. That release states Hendricks bought from Swift Creek Real Estate Partners and Centennial Real Estate Management LLC, indicating the trust's interest had been divested before the transaction, at a point the public record does not date. No Passco disposition announcement for the trust has been published, and no price for the development is on the record.
Passco acquired the property for $62.4 million in March 2019. Measured from the first Form D to the May 2025 sale, the span is 6.1 years. Because the interest changed hands before that sale, the trust's actual hold was shorter, and its end date is not on the record.
Field | Detail |
|---|---|
Sponsor | Passco Companies |
Trust | Passco Fritz Farm DST |
Asset class | Residential |
Property | The Henry at Fritz Farm, 306 units, Lexington, KY |
Offering ceiling | $37,475,000 |
Minimum investment | $25,000 |
Exemption | 506(b) |
First filing | March 27, 2019 |
Property sale to Hendricks | Announced May 15, 2025 |
Trust-reported return | not stated |
Trust hold period | not stated on the record |
The Henry's disposition is on the record; the date Passco exited it is not.