NewStar Asset Management, through its subsidiary NewStar Exchange, has acquired Tranquil Gardens – a single-family rental subdivision located in Woodstock, GA. The 95% leased property was purchased on behalf of the newly launched 1031 Delaware Statutory Trust offering: NewStar 6 Tranquil Gardens BTR DST.
CEO Boone DuPree expressed his excitement for the sixth investment since launching NewStar Asset Management in 2021 and third acquisition by Newstar Exchange. He noted that Tranquil Gardens is an ideal Class A build-to-rent community to serve both Millennial family formation and Baby Boomer retirement demographic categories with attainable high quality housing options.
The financing for this project comes from a first mortgage through Freddie Mac which offers 40% leverage to DST investors on the syndicated basis of this offering; approximately $19 million is expected to be raised from accredited investors as equity capital for this venture.
