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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).