
NewStar Acquires Suburban BTR, Launches 1031 DST
NewStar Exchange, a subsidiary of NewStar Asset Management, acquired Tranquil Gardens, a single-family rental subdivision located in Woodstock, GA, an Atlanta suburb. The 95% leased property was acquired on behalf of a newly launched 1031 Delaware Statutory Trust offering, NewStar 6 Tranquil Gardens BTR, DST.
“We are excited to announce our sixth investment since launching NewStar Asset Management in 2021, and our third investment by NewStar Exchange,” said NewStar CEO Boone DuPree, “Tranquil Gardens is a Class A build-to-rent community squarely aligned with NewStar’s investment thesis for providing attainable, high-quality housing to serve the growing Millennial family formation and Baby Boomer retirement demographic categories.”
NewStar 6 Tranquil Gardens BTR, DST is financed with a first mortgage through Freddie Mac, offering 40% leverage to DST investors on the offering’s syndicated basis, and seeks to raise approximately $19 million in equity from accredited investors.
- ◦Sale/Acquisition