Passco Companies sold the Glen at Alexander, a 216-unit apartment community at 1040 Alexander Drive in Augusta, Georgia, on August 1, 2019. It is the first full-cycle disposition Top1031 records for the sponsor.
The offering reached investors through a Form D filed January 31, 2013, a residential 506(b) trust that set a ceiling of $17.2 million and a minimum investment of $25,000.
Baker 1031, a third-party tracker, records a seven-year hold for the offering along with return figures. Measured from the January 2013 Form D, the span to the August 2019 sale is six and a half years; the community was acquired in 2012 and 2013, before that filing, which accounts for the difference. Passco itself has disclosed no disposition price and no return figure.