Passco Cos. Founder Bill Passo Dies at 84, President Larry Sullivan to Continue Leadership
William 'Bill' Passo, founder and CEO of Passco Cos., died June 15 at age 84. The Orange County-based firm manages $4.3B in assets and has completed $8.7B in acquisitions across 17 states; President Larry Sullivan will continue leading the company.
William 'Bill' Passo, founder and CEO of multifamily investment firm Passco Cos., died June 15 at age 84, the Orange County, California-based company announced.
Passo founded Passco in 1998 and built it into one of the most active sponsors of Delaware statutory trust offerings, with $8.7B in acquisitions and $4.3B in assets under management across 17 states. He pioneered tenancy-in-common commercial real estate investments and his early work in fractionalized 1031 structures laid the groundwork for the DST market, which surpassed $8B in 2025 for the second time. DSTs allow investors to purchase a fraction of a property offered by a sponsor, satisfying the like-kind requirement of IRS code Section 1031 for tax-deferred exchanges.
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