
NewStar Exchange Subscribes $19.1M Atlanta BTR DST Offering
NewStar Exchange, a subsidiary of NEWSTAR, has fully subscribed a $19.1 million build-to-rent (BTR) Delaware Statutory Trust (DST) offering, NewStar 6 Tranquil Gardens BTR, DST. The firm has now raised approximately $50 million in equity since launching in 2022.
Tranquil Gardens comprises 73 newly constructed three-bedroom and four-bedroom attached and detached homes for-rent in northwest Atlanta, GA.
“Tranquil Gardens has been an excellent performer to-date, meeting investment projections since closing, while we have successfully increased in-place rents by 6% on an annualized basis,” said Joe Gibson, NEWSTAR CIO. “The quality of the homes and location is evident in the approximately 25% rent premium we are achieving relative to our competitive set.”
Preferred Capital Securities (PCS) served as the managing broker-dealer.
