Passco Allure DST owns Allure at Edinburgh, a 280-unit luxury multifamily community completed in 2024/2025 at 249 Allure Lane in Chesapeake, Virginia. The property was 98.57% occupied as of April 27, 2026 and is financed with a $48.35 million KeyBank/Fannie Mae loan at 4.98% fixed, interest-only for seven years before 30-year amortization. The business plan targets rent growth, ancillary income, resident retention, and amenity enhancements over an approximately 10-year hold, with an optional FMV exit for cash or affiliated exchange-entity units.
74 acres in Chesapeake, Virginia. 57% occupied as of April 27, 2026. Residents have access to a resort-style pool, fitness and yoga facilities, golf simulator, movie theater, arcade, coworking areas, pet amenities, EV charging, and other high-end features.
35 million fixed-rate Fannie Mae loan. The business plan targets rent growth, ancillary-fee increases, resident retention, amenity enhancements, and disciplined expense management over approximately ten years. Offered under Rule 506(b).
| Lender | KeyBank, National Association (Fannie Mae DUS) |
| Interest Rate | 4.98% (Fixed) |
| Loan Term | 10 years |
| Interest-Only Period | 7 years |
| Amortization | 30 years |
| Total Debt | $48.4M ($48,350,000) |
| In-Place LTV | 45.22% |
| Year 1 DSCR | 2.06x |
Newly constructed 280-unit luxury multifamily asset with 98.57% occupancy.
Affluent resident base with approximately $115,080 median household income and a 21.69% rent-to-income ratio.
Fixed 4.98% Fannie Mae financing with seven years of interest-only payments.
Chesapeake submarket forecasts approximately 2.8% annual rent growth through 2030.
Optional FMV exit permitting cash or affiliated exchange-entity units.
New construction; high occupancy; affluent tenancy; extensive amenities; fixed-rate financing; strong initial debt-service coverage; and an optional tax-efficient exit.
Single-asset concentration; investor basis materially exceeds the $92.9 million appraisal; projected distributions require reserve support; returns decline when amortization begins; the master lease is not triple-net; and the DST cannot refinance the loan.
The analysis below is Baker 1031's educational opinion — not investment, tax, or legal advice, a recommendation, or a guarantee, and it does not replace the offering's Private Placement Memorandum (PPM), which governs in all respects. Read the PPM and consult your own CPA and attorney before investing.
A stabilized luxury multifamily investment with modest current yield and limited operating cushion. Success depends on maintaining occupancy, achieving rent growth, controlling taxes and insurance, and selling before the May 2036 balloon. The affiliated master tenant has limited capitalization, while most reserves initially take the form of a six-month sponsor-funded note.
The analysis below is Baker 1031's educational opinion — not investment, tax, or legal advice, a recommendation, or a guarantee, and it does not replace the offering's Private Placement Memorandum (PPM), which governs in all respects. Read the PPM and consult your own CPA and attorney before investing.
| Metric | This Offering | Market Avg. | Assessment |
|---|---|---|---|
| Avg. Income | 4.40% | 5.03% | Below Average |
| Income Growth | 8.05% | 30.49% | Below Average |
| Peak Income | 4.70% | 6.06% | Below Average |
Passco
Passco Companies is an Irvine multifamily and commercial sponsor, founded in 1998, whose founder Bill Passo helped pioneer the modern tenant-in-common 1031 structure that preceded the DST—giving the firm genuine standing in the history of securitized exchanges. With $4.1 billion in AUM as of late 2025 and more than $8 billion in lifetime acquisitions across multiple cycles, Passco concentrates on Class A multifamily in Southeastern and secondary/tertiary markets, owning or managing some 30,000 units. Its structural heritage and through-cycle acquisition record make it a seasoned, large-scale name in the category.
Learn More About Passco →Documents for this offering. Available to signed-in investors.
Securities offered through Aurora Securities, Inc. (CRD #46147 / SEC #8-51322), member FINRA / SIPC; Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. and is not a registered broker-dealer or investment adviser. This is not an offer to sell or a solicitation of an offer to buy any security; any offer is made solely by the confidential private placement memorandum (PPM), which qualifies all information herein in its entirety. Delaware Statutory Trust interests are speculative, illiquid securities offered under Rule 506(c) of Regulation D and sold only to investors whose accredited-investor status has been verified; offering documents and subscription materials are provided only after that verification. They involve substantial risk, including possible loss of the entire investment.
Distributions, yields, the cap-rate equivalent, DSCR, occupancy, and benchmark figures are sponsor estimates or projections, are not guaranteed, and may differ materially from actual results. Any tax-adjusted yield assumes a 40% effective rate for non-1031 cash investors and is not tax advice. No tax, legal, or investment advice is provided — consult your own CPA and attorney. Past performance does not guarantee future results.