NewStar Asset Management, a subsidiary of NewStar Exchange, has acquired Tranquil Gardens – a single-family rental subdivision located in Woodstock, GA – an Atlanta suburb. The property is 95% leased and was acquired on behalf of the newly launched 1031 Delaware Statutory Trust offering: NewStar 6 Tranquil Gardens BTR DST.
Boone DuPree, CEO of NewStar expressed his excitement for the acquisition saying “This marks our sixth investment since launching in 2021 and our third through Newstar Exchange. Tranquil Gardens is an ideal Class A build-to-rent community that provides attainable high quality housing to serve both Millennial family formation and Baby Boomer retirement demographics”
The offering seeks to raise approximately $19 million from accredited investors with 40% leverage offered on syndicated basis through Freddie Mac’s first mortgage loan program.
