Passco Preston Ridge DST
Investment Description
Passco Preston Ridge DST holds Preston Ridge, a 340-unit apartment community in Hickory, North Carolina. The property includes phases completed in 2020 and 2023. The offering is structured as a single-property Delaware statutory trust, with investor interests associated with the community and its operating arrangements.
Key Facts
- Fundraising Status
- Open
- Sponsor Name
- Passco Companies
- Location(s)
- North Carolina
- Equity
- $44,350,000
- Debt
- $39,215,000
- LTV (investor offering)
- 46.93%
- Property Type
- Multifamily
Source-document projections, not actual distributions. Income is operating cash divided by original offering equity and excludes sale proceeds. Y1 annualizes the initial eleven-month source period. Average uses all 120 months; the report’s anniversary-year chart is a separate timing allocation. Offering LTV = allocated debt / (offering equity + allocated debt). Figures reflect reviewed document dates, not current operating results. Projections are not guaranteed; availability is maintained separately.
Sponsor Overview
Passco Companies
Passco Companies is the sponsor identified in the offering materials. The company was formed in 2005 following predecessor operations begun in 1998. Its property programs include multifamily real estate, with affiliated entities performing trust, asset-management and master-tenant functions.