NewStar Launches 1031 DST Program, Acquires Built-to-Rent Community in Atlanta, Georgia MSA.

MANews-(C)2009-2022

US-based real estate-focused alternative investment and asset management company NewStar Asset Management has launched NewStar Exchange, a sponsor of Delaware Statutory Trust offerings for Section 1031 exchange and other accredited investors, the firm said.

NewStar Exchange will invest in multifamily and built-to-rent communities in SunBelt markets of the United States, targeting suburban locations positioned to capture outsized growth from family formation (ages 30-49) and retirement (ages 65+) population categories.

In addition, NewStar Exchange announced TODAY its acquisition of University Commons, a build-to-rent community located approximately 50 miles northeast of downtown Atlanta, Georgia.

University Commons is 96% leased and features newly constructed two-story, single-family detached homes in three-bed / three-bath floorplans with granite countertops, stainless steel appliances, luxury vinyl tile flooring, and in-unit washer-dryer sets.

Homes are attainably priced with average in-place monthly rents of USD 1,775, or USD 1.29 per square foot, and recent leasing at USD 1,900, or USD 1.38 per square foot.

NewStar Exchange acquired the property all-cash on behalf of NE1 UC, DST.

NE1 UC, DST seeks...

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