Passco Wolfchase DST is on the record as full cycle with the sale of Legends at Wolfchase, a Class A apartment community in Bartlett, Tennessee, a Memphis suburb. Passco Companies had brought the Delaware Statutory Trust (DST) to market on a Form D filed June 18, 2012. The record carries an exit date of June 1, 2019, and the account of the disposition places the sale in mid-2019. The filing dates place the hold at seven years.
Term as filed | |
|---|---|
Sponsor | Passco Companies |
Property | Legends at Wolfchase, Bartlett, Tennessee |
Asset class | Residential |
Exemption | 506(b) |
Offering ceiling | $19,025,000 |
Minimum investment | $25,000 |
Exit type | Property sold |
The sale was $42 million, as reported by the sponsor in the Memphis Business Journal's June 17, 2019 report. Top1031 carries that figure as the Trust's disposition value on a sponsor-announcement basis; the other document in the price evidence is an executive summary for the offering posted by 1031 Gateway.
The account of the sale states no return figure, and the filing carries none. Neither the Form D nor the disposition record discloses the Trust's debt at either end of the hold.
The event, the price, and the hold are documented. What the beneficial owners received is not.