Passco Cos. Founder William Passo Dies at 84

William Passo, founder and CEO of Irvine, Calif.-based Passco Cos., passed away at the age of 84 on June 15. A practicing attorney from 1967 to 1985, Passo later founded Passco Cos. in 1998, initially focusing on retail investments before expanding into multifamily and other asset classes.

Passo is widely recognized as a pioneer of the tenant-in-common investment structure. He was the first to present the concept to the Internal Revenue Service, which validated the TIC structure in 2002. Later in his career, he helped develop the Delaware Statutory Trust market and oversaw the acquisition, management and disposition of more than 250 properties nationwide.

His influence in the DST sector continued into recent years. In 2022, the firm established a strategic alliance with Greystone to provide clients with increased benefits from the DST investment sector and other real estate investment opportunities.

On the investment side, Passo was able to raise more than $1.4 billion in investor funds throughout his tenure at his company. As of December 2025, Passco Cos. is active in 17 markets across the nation, with $4.3 billion in assets under management and more than 14,500 multifamily units. Last month, the firm acquired Allure at Edinburgh, a 280-unit luxury community in Chesapeake, Va., from Venture Realty Group.

In a statement following his passing, the company said it would continue operating under his values of integrity, vision, gratitude, loyalty and care for others.