Altnvest
LibraryPassco Toscano DST
Back to Offering

Offering Summary

Processed

Passco Toscano DST

Passco Toscano DST is raising $77,400,000 in equity for the acquisition of a 230-unit apartment community built in 2024 in Salem, NH. Initial distributions start at 4.47% with an average projected full-term return of 5.05%.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%
Yr 1Term avg.
Yr 1 4.47%Term avg. 5.05%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

230-Unit 2024 Multifamily Asset in Salem, NH

$139,624,813 acquisition price

Passco Toscano DST

230-unit apartment community

The property was completed in 2024, indicating it is a newly built apartment community.

15 Artisan Dr Salem, NH, 03079

15 Artisan Dr Salem, NH, 03079

230 units230-unit apartment community

$139,624,813

100.0% of portfolio

Seller
Property manager
PASSCO
Sponsor

PASSCO

Asset Type

230-unit apartment community

Location

15 Artisan Dr Salem, NH, 03079

Units

230

Property Age

The property was completed in 2024, indicating it is a newly built apartment community.

Offering Price

$77,400,000

Offering Debt

$68,750,000

Offering Equity

$77,400,000

Offering LTV

47.04%

Income % (Yr. 1)

4.47%

Avg. Income (Full Term)

5.05%

Minimum Cash Investment

Minimum 1031 Investment

Strengths

  • 2024 construction vintage minimizing early capital expenditures
  • Targeted full-term average distribution of 5.05%

Concerns

  • Initial Year 1 distribution rate begins at 4.47%
  • Appraisal details not provided in the materials