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Alternative Assets  + Real Estate  |  August 19, 2024
NewStar Exchange Subscribes $19.1M Atlanta BTR DST Offering
Joe Palmisano
By: Joe Palmisano

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. 

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NewStar ExchangePreferred Capital Securities

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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