# Passco Preston Ridge DST

> The Project is a 340-unit multifamily apartment complex known as Preston Ridge located on approximately 24.07 acres of land in Hickory, North Carolina.

Source: https://baker1031.com/invest/passco-preston-ridge-dst


## Key terms

| Term | Value |
|---|---|
| Status | Closed |
| Property type | Multifamily |
| Sponsor | Passco |
| Location | North Carolina |
| Minimum investment | $25,000 |
| Year-1 projected distribution | 4.45% |
| Average projected distribution | 4.81% |
| Projected hold | 10 yrs |
| Offering size | $83,565,000 |
| Equity raise | $44,350,000 |
| Debt | $39,215,000 |
| Loan-to-value | 46.9% |
| 721 exit | Optional |

## Projected distributions by year

| Year | Projected distribution |
|---|---|
| Year 1 | 4.45% |
| Year 2 | 4.56% |
| Year 3 | 4.56% |
| Year 4 | 4.69% |
| Year 5 | 4.96% |
| Year 6 | 5.05% |
| Year 7 | 5.19% |
| Year 8 | 4.72% |
| Year 9 | 4.87% |
| Year 10 | 5.02% |

## Overview

The Project is a 340-unit multifamily apartment complex known as Preston Ridge located on approximately 24.07 acres of land in Hickory, North Carolina. Phase I of the Project was constructed in 2020 and phase II of the Project was constructed in 2023. The Project consists of a mix of 1-, 2- and 3-bedroom units, with an average unit size of 960 square feet. According to the Survey, the Project has a total of 654 parking spaces, which includes 565 standard surface spaces, 35 handicap spaces, 36 garage spaces and 18 cross easement spaces. According to the January 8, 2026 Rent Roll, the Project was approximately 89.12% occupied.

The Project offers several community amenities, including a fitness center, yoga room, clubhouse, business center, freshwater swimming pool and outdoor dog park.

Information reflects my offering records as of October 28, 2026 and may have changed. Projected distributions are the sponsor's estimates, are not guaranteed, may change or stop, and may include a return of capital. To request the offering documents, contact hello@baker1031.com or visit https://baker1031.com/invest/passco-preston-ridge-dst.

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Securities are offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. and is not a registered broker-dealer or investment adviser. This content is general education, not investment, tax, or legal advice, and is not an offer to buy or sell securities. Offers are made only through the offering documents to eligible investors, generally accredited investors. DST interests are illiquid, distributions are not guaranteed, and you can lose your entire investment.

Contact: Jerry Baker, Baker 1031 Investments · hello@baker1031.com · (415) 965-0552 · https://baker1031.com/contact