Passco Wakefield Glen DST sold Wakefield Glen Apartments, its Class A community at 2400 Garden Hill Drive in Raleigh, North Carolina, on March 7, 2018. A recorded sale profile, verified by an appraiser on March 19, 2018, lists the price at $39.85 million, with the trust named grantor and Bel Wakefield LP grantee. That figure sits on the public record; Top1031 rates its confidence medium and has not matched it to a sponsor disposition announcement.
The offering that held the community first filed its Form D on December 30, 2013. From that filing to the sale, the hold ran 4.2 years.
Field | Detail |
|---|---|
Sponsor | Passco Companies |
Trust | Passco Wakefield Glen DST |
Asset class | Residential |
Offering exemption | 506(b) |
Offering ceiling | $19,550,000 |
Minimum investment | $25,000 |
First Form D | December 30, 2013 |
Property | Wakefield Glen Apartments, 246 units, 2400 Garden Hill Dr., Raleigh, NC |
No full-cycle return for the offering appears in the public record: neither an internal rate of return nor an equity multiple was disclosed. This is the first full cycle Top1031 records for Passco Companies.