Passco Stonegate DST sold its Birmingham, Alabama apartment community on July 27, 2018. The disposition value was $34.1 million, as reported by the sponsor in a Passco private placement memorandum carrying its completed-program record.
The Trust came to market as a 506(b) offering with a $17.65 million equity ceiling and a $25,000 minimum investment, per its Form D. The record places the hold at six years.
The same document states a 6.44% annualized return, as reported by the sponsor in that memorandum, and a 1.45x equity multiple, as reported by the sponsor in the same track record. No total return figure appears there, and the distribution terms the original offering documents set out are not on the public record for comparison. Nothing in the record identifies the buyer.
Top1031 records the sale as the first full cycle for Passco Companies.