Bisnow reported the sale of The Parker at Huntington, a 360-unit multifamily property in Alexandria, Virginia, and named Brookfield Properties as the buyer. The sale took Passco Parker DST full cycle.
Item | On the record |
|---|---|
Trust | Passco Parker DST |
Sponsor | Passco Companies |
Asset class | Residential |
Property | The Parker at Huntington, Alexandria, Virginia |
First Form D filed | October 16, 2017 (filing) |
Exemption | 506(b) |
Offering amount | $53,000,000 maximum |
Minimum investment | $25,000 |
2017 acquisition | October 2017, for approximately $116 million; the exact price is not disclosed |
Exit type | Property sold |
Exit date on record | March 1, 2022 |
Buyer | Brookfield Properties, per Bisnow's report of the sale |
Sale price | $136 million, as reported by the sponsor and carried in Bisnow's report |
Hold period | 4.4 years, October 16, 2017 to March 1, 2022 |
The record carries March 1, 2022 as the exit date, while the account of the sale gives the month. The hold above is measured from the Trust's first Form D filing to that recorded exit date, so it begins at a filing rather than at the closing on the property. A second hold figure of 4.5 years also sits in the record; this report uses the span the two recorded dates establish, and names both endpoints.
The basis of the sale figure is recorded two ways. Top1031's disposition record classifies the figure as a sponsor announcement, at high confidence, while the summary in that same record attributes the number to Bisnow. Top1031 located no separate Passco disposition announcement for the Trust. The amount does not differ between the two accounts, so the table labels the figure as the record's basis states and links the trade-press report that carries it. On the buyer, the sale account names Brookfield Properties, and this report uses that name; the property later appears in the portfolio of Brookfield Real Estate Income Trust, a separate matter of who holds it now.
Passco's own account of the result is not on the public record. No total return, annualized return, or equity multiple for the offering is disclosed anywhere Top1031 could source. The private placement memorandum is not a public document, so the offering's original terms are not available to set beside the outcome. Whether investors at the sale were offered a further 1031 exchange, cash, a 721 roll, or some combination is not stated. Nor is the portion of the offering ceiling that was actually sold.
Eleven Passco offerings had reached full cycle before this one. The property appears among Brookfield Real Estate Income Trust's holdings in an annual report filed with the SEC in 2025 and on the REIT's property page. For an investor reconstructing this exit, one trade-press report and the buyer's filings are what exist.