Real Estate Portfolio

Properties

Pass Creek Holdings owns and operates real estate in the Black Hills of South Dakota. Current holdings valued at $2.6M+ with $8M allocated for Phase 2 expansion.

Current Holdings

Owned free and clear. Zero debt. Built over 5 years.

Main Campus

Mixed-Use Tech Campus

Operational

Size

0 acres

Current Value

$2.6M+

11 distinct facilities
GrowWise HQ + offices
THE BARN broadcast studio
Seed Academy classrooms
THE OP cafe space
Event grounds (5+ acres)
Theater/Auditorium
Basketball Court

$8M Allocation

Phase 2 Expansion

The $8M BHC allocation funds four categories of real estate development, all on or adjacent to the existing campus.

$2.5M

Settle the West Housing

Residential units for remote workers relocating through the Settle the West program. 20-30 units ranging from studios to 3-bedroom homes. Captive demand from 2,000 planned relocations over 5 years.

Planned

Target: 2027-2028

$3M

Campus Expansion

Additional commercial space for Grow Campus coworking, expanded Seed Academy facilities, and infrastructure upgrades including solar array and EV charging.

Planned

Target: 2026-2027

$1.5M

Land Acquisitions

Strategic parcels adjacent to the current campus and in downtown Custer for satellite offices and retail presence.

Planned

Target: 2026-2028

$1M

Operations Reserve

Working capital for property management, maintenance, insurance, and bridge financing during construction phases.

Planned

Target: Ongoing

Housing Development Roadmap

Build Phases

Three phases of housing development to serve the growing campus population and Settle the West relocators. All projections are investment targets.

Phase 1 (Year 2)

Tiny Home Village

Investment

$500K

Units

10 units x $50,000 each

Projected Income

$96K annual ($800/month each)

Projected ROI

19.2% cash-on-cash

Target Residents

Remote workers, Settle the West relocators

Phase 2 (Year 3)

Staff Apartments

Investment

$1.7M

Units

12 x 1BR @ $75K + 8 x 2BR @ $100K

Projected Income

$278K annual

Projected ROI

16.4% cash-on-cash

Target Residents

BHC employees, Academy students

Phase 3 (Year 4)

Executive Housing

Investment

$1M

Units

4 x 3BR @ $250K each

Projected Income

$120K annual ($2,500/month each)

Projected ROI

12% cash-on-cash

Target Residents

Executives, visiting investors, Airbnb

All figures are projected investment targets and not guaranteed returns.

10-Year Appreciation

Projected

Combined lease and housing income trajectory as build phases come online.

Year	Lease Income	Housing Income	Total Revenue	Property Value
2026	$144K	$0	$144K	$2.6M
2027	$180K	$48K	$228K	$3.5M
2028	$220K	$192K	$412K	$5.5M
2029	$280K	$375K	$655K	$8M
2030	$350K	$500K	$850K	$12M
2035	$600K	$1.2M	$1.8M	$35M

All projections are investment targets based on planned build phases and local market data.

Investment Thesis

Why Custer County real estate is a generational opportunity.

0.9M

Annual Visitors

Custer State Park + Mount Rushmore combined tourism

State Income Tax

South Dakota has zero personal or corporate income tax

Planned Relocations

Settle the West target over 5 years — captive housing demand

$800K-$15M

Revenue Growth

Year 1 to Year 5 projected campus revenue trajectory

Interested in the Real Estate Opportunity?

Learn about the $8M allocation and Pass Creek's role in the BHC portfolio.

Investment Details