From January to June 2021, Passco Companies purchased $445.7 million in multifamily assets and is targeting a company record of $1 billion in acquisitions this year, according to Larry Sullivan, president of Passco Companies. Passco’s multifamily acquisitions in the past six months include six properties in five states totaling 1,781 units.

“At the heart of our proven strategy is identifying assets that provide strong, durable cash flow,” says Sullivan. “We’ve essentially perfected a business plan that fits our structure and fully meets our needs and expectations.”

Passco’s most recent multifamily purchase, the $69 million acquisition of the 248-unit The Harrison at Braselton in Buford, GA, located approximately an hour outside of Atlanta, exemplifies the firm’s strategy.

“The Harrison at Braselton is located in Hall County, GA, which has seen a steady influx of thousands of residents per year, leading to a nearly 15 percent population growth rate over the last decade,” says Keanan Gomez, director of acquisitions at Passco. “The local economy has also been bolstered by robust business growth, particularly in the healthcare and manufacturing industries. In line with our typical strategy, we acquired the 2019-built property right out of lease-up at 100 percent occupancy with a waitlist.”