Passco Veranda DST held one asset: the Veranda at Norton Commons, a 236-unit multifamily community at 9506 Civic Way in Prospect, outside Louisville, Kentucky. It sold in May 2022. The Connor Group bought the community for $72.8 million, as reported by CoStar and Louisville Business First. CoStar reported the transaction set a new price-per-door benchmark for Kentucky.
The offering that owned it dates to the summer of 2016. Passco Companies filed the trust's first Form D on July 27, 2016, setting a maximum raise of $24.475 million, a $25,000 minimum investment, and a 506(b) exemption. Passco had acquired the newly built property and placed it in the trust.
The span from that first filing to the May 1, 2022 sale is 5.8 years.
No DST-level full-cycle announcement stated an equity multiple, internal rate of return, or total return to investors. The sale price is a property-level figure and does not, on its own, describe what the trust distributed to holders. The eventual result for those investors is not in the public record here.
The disposition joins Passco's full-cycle history.