# Twenty25

Source: https://baker1031.com/data/full-cycle/investments/5d7491582792f6f8

Compiled: 2026-11-03. Source workbook: full_cycle_sponsor_summary_reviewed.xlsx; SHA-256: 57b6a4f1684fe8705993e9ddbe73bdadc275be6df22e56a12153298457264a8e. This date describes the compilation, not the currency of every underlying record.

## Data limitations and educational use

This data was collected from sponsor materials and manually entered into a data file for analysis. Transcription, calculation or classification errors may exist. The compilation has not been independently audited or verified for correctness, completeness or currency. Consult the current private placement memorandum (PPM), its supplements and sponsor reports for complete, up-to-date track-record information.

Displayed metrics use the higher endpoint of each reported range, including averages and medians of those values. Selecting higher return or multiple endpoints presents the more favorable source case. These figures do not establish typical or expected performance. Original ranges remain in the underlying data and source materials.

Some source data is dated, estimated or based on valuations rather than cash exits. Sponsors may use different periods, fees, return definitions and calculation methods, making direct comparisons unreliable or impossible. Available histories may be incomplete or selected, and exclusions and missing values affect each metric’s sample. Averages are not pooled investor returns or a ranking of sponsors.

For educational purposes only. This data is not investment, tax or legal advice, a recommendation, or an offer to buy or sell securities. Past performance does not guarantee or predict future results. Real estate securities are speculative and illiquid; distributions are not guaranteed and investors may lose their entire investment.

## Data coverage

<a id="data-coverage"></a>

| Measure | Value |
| --- | --- |
| Investment histories | 837 |
| Sponsors covered (25 with histories) | 39 |
| Annual-return observations | 737 |

<a id="investment-record"></a>

| Investment | Sponsor | Property type | Location | Start | End | Hold years | Annual return | Multiple | IRR | Outcome |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Twenty25](https://baker1031.com/data/full-cycle/investments/5d7491582792f6f8.md) [41](#note-41) [45](#note-45) | Passco | Multifamily | Kennesaw, GA | 2014-11-25 | 2021-05-07 | 6.45 | 21.19% | Unavailable | Unavailable | Break-even or better |

<a id="reported-figures"></a>

| Metric | Source / calculated value | Sponsor comparison |
| --- | --- | --- |
| Annual return | 21.19% | Included |
| Hold period (years) | 6.45 | Included |
| Equity multiple | Unavailable | No usable value available |
| Outcome | Break-even or better | Included |

<a id="investment-facts"></a>

| Field | Value |
| --- | --- |
| Annual-return method | Reported AAR |
| Reported IRR, kept separate | Unavailable |
| Source start date | 2014-11-25 |
| Source end date | 2021-05-07 |
| Offering structure | DST / TIC property program |

## Source and calculation notes

Return basis: Reported AAR. Annual method: Reported AAR.

Source-reported annual return. Original definition, fee basis and valuation treatment are retained; no IRR or equity multiple is inferred from this rate.

Hold method: Existing reviewed hold; Reported hold in years retained.

Outcome basis: Indicative inference from the sign of the reported lifetime annual total return. Assumes the annual return reflects cumulative economic gain/loss, rather than an income-only yield.

Source: Passco - Passco Allure DST - PPM.pdf, PDF viewer pages 119.

Definition: ARR (annualized rate of return) based on net sales proceeds plus ownership-period investor distributions; exact ARR numerator/denominator formula not stated. Sale prices gross. Additional-investment classes separate.

Original notes: 

Structure: DST / TIC property program. Unconfirmed: false. Estimated: false. Valuation/in-kind exit: false.

<a id="additional-source-metrics"></a>

| Additional source metric | Value | Units |
| --- | --- | --- |
| Investment structure | DST | Source value; see metric label/basis |
| Purchase price USD | 44175000 | USD |
| Gross sale price USD | 64750000 | USD |

## Footnotes

<a id="note-41"></a>

### 41. Source-reported annual return

The annual return is reported by the source. Source AAR definitions, fees and periods can differ, so direct comparison may be unreliable. Consult the investment’s source definition and current PPM.

<a id="note-45"></a>

### 45. Outcome inferred from a return sign

The nominal break-even outcome is inferred from the sign of a reported lifetime return or IRR, assuming conventional cash flows. This is a qualified inference rather than a cash-confirmed multiple.

## Proprietary compilation and use

Baker 1031 Investments, LLC’s selection, organization, annotations and presentation form a proprietary compilation. Underlying sponsor materials and third-party content remain subject to their respective owners’ rights. No open-data or redistribution license is granted. Contact Baker 1031 for permission to reproduce the compilation.

Methods: https://baker1031.com/data/full-cycle/methodology.md

Securities offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. Contact: hello@baker1031.com.