Passco Stonegate DST sold the apartment community at 101 Leaf Lake Boulevard, in the Lakeshore area of Birmingham, Alabama, on July 27, 2018. The Birmingham Business Journal reported the sale the day it closed; al.com identified the buyer as Sunbelt Residential, a subsidiary of Sage Equities, and reported the price.
The Trust filed its Form D on July 10, 2012, a 506(b) offering with a $17.65 million equity ceiling and a $25,000 minimum investment.
Baker1031's record of Passco's full-cycle history reports a 6.44% annualized return, as reported by the sponsor, and a 1.45x equity multiple, as reported by the sponsor, both stated net to investors and not audited. No total return figure and no original offering projection appear in the record.
The sale is the first full cycle Top1031 records for Passco Companies.