Who We Are

Company Background

NEWSTAR was founded in 2021 by former executives of Preferred Apartment Communities, Inc., a publicly traded REIT that was acquired by Blackstone (NYSE: BX) for $5.8 billion in 2022. Our leadership team brings more than 100 years of experience across more than 10,000 residential units, 10 million square feet of commercial property, and more than $10 billion invested capital.

Meet Our Leadership Team

Chief Executive Officer

Boone DuPree

bdupree@newstar-am.com

Mr. DuPree is Chief Executive Officer for NEWSTAR, which he founded in 2021.

Prior to forming NEWSTAR, Mr. DuPree most recently served as an executive for Preferred Apartment Communities, Inc. (“PAC”), a publicly traded real estate investment trust that was acquired by Blackstone in 2022. From its initial public offering through the company’s sale to Blackstone, PAC issued more than $2.6 billion of non-listed preferred stock and paid more than $675 million in preferred dividends, while delivering more than a 3.3x multiple to common stockholders.

At the time of its sale to Blackstone, PAC owned 44 high-quality multifamily communities totaling approximately 12,000 units concentrated in Atlanta, Orlando, Tampa, Jacksonville, Charlotte, and Nashville, in addition to 54 grocery-anchored shopping centers and approximately 1 million square feet of Class A office property. Mr. DuPree served as a named executive officer for PAC and oversaw an operating portfolio worth more than $1 billion, and a development portfolio worth $1 billion comprising mixed-use projects across the Southeast and Texas. Before PAC, Mr. DuPree served on the investments team for Cousins (NYSE: CUZ), a publicly traded real estate investment trust based in Atlanta, Georgia, and for Boston-based real estate investment fund Roseview Partners.
Mr. DuPree is a graduate and member of the Urban Land Institute’s Center for Leadership and a member of the Young Presidents Organization (YPO). He holds a B.S. in Finance from Wake Forest University in Winston-Salem, North Carolina.