Passco Riverside DST
Investment Description
Passco Riverside DST holds interests associated with Velo Riverside, a 265-unit apartment community in Dayton, Kentucky. The offering is organized as a Delaware statutory trust. The property is held through the documented city bond and ground-lease arrangement, with residential operations administered through separate management and master-lease agreements.
Key Facts
- Fundraising Status
- Open
- Sponsor Name
- Passco Companies
- Location(s)
- Kentucky
- Equity
- $48,900,000
- Debt
- $40,801,000
- LTV (investor offering)
- 45.49%
- 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 thirteen-month source period. Average uses all 120 months, including the final eleven-month period. 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.