Passco Cos. kicked off 2026 by closing over $300 million in transactions in the first quarter and expanding its multifamily portfolio. Its portfolio now spans 17 states with approximately $4.3 billion in assets under management.
“Passco’s strong start to 2026 reflects our continued focus on acquiring high-quality assets in growth markets while delivering value to our investors,” said chief investment officer Colin Gillis. “From expanding in major metropolitan areas like Boston to identifying opportunity in high-growth secondary markets such as Hickory, North Carolina, we remain committed to strategic investments that align with long-term demographic and economic trends.”
Its first quarter acquisitions include Novella at Tuscan Village in Salem, New Hampshire, and Preston Ridge in Hickory.
Novella at Tuscan Village is Passco’s largest multifamily investment to date in the Boston metropolitan statistical area. The rebranded property comprises 230 units with a mix of studio, one-, two-, and three-bedroom floor plans.
The units feature designer finishes and spacious layouts, including premium appliances, custom walk-in closets, 9- to 11-foot ceilings, and built-in desks and bookshelves. Residents have access to a lounge with a gourmet entertaining kitchen; modern coworking spaces; three resort-style courtyards; outdoor gathering areas with a pool table and fire pit seating; a fitness center; a dog park; a smart package room; and electric-vehicle (EV) charging stations.
Completed in two phases in 2020 and 2023, Preston Ridge comprises 340 units on approximately 24 acres. The community, which is near key retail corridors and employment centers, offers a mix of one-, two-, and three-bedroom floor plans.
The apartments include modern finishes, smart-home technology, and private outdoor space. Residents also have access to a wide range of amenities, including a resort-style pool, fitness and wellness spaces, coworking areas, walking trails, pet-friendly features, package lockers, and EV charging.
“We are continuing to build with intention, focusing on quality and long-term performance,” added president Larry Sullivan.
According to Passco, with a robust pipeline and strong market positioning, the firm anticipates continued momentum as it works to scale its multifamily platform nationwide. In the first quarter, it also was awarded Allure at Edinburgh, a newly delivered 280-unit Class A community in Chesapeake, Virginia. The acquisition closed in April and will be part of its second quarter transactional activity.