NewStar Exchange Fully Subscribes DST Offering for Newly Constructed Built-to-Rent (“BTR”) Community in Atlanta, Georgia
Atlanta, GA — NewStar Exchange (the “Company”) announced today that NE1 UC, DST has been fully subscribed. The offering raised $10.3 million in aggregate equity investment from Section 1031 Exchange Investors. Preferred Capital Securities (PCS) served as the managing broker-dealer.
“We are pleased to report the successful close-out of our second 1031 exchange Delaware Statutory Trust offering, and thank our new partners in this investment, and the investment advisors, financial representatives, and our broker-dealer, PCS, for their trust and support,” said Boone DuPree, Chief Executive Officer for NewStar Asset Management and NewStar Exchange. “We believe there is a significant unmet need for attainable family housing and look forward to continuing to serve this space with investments in single-family residential build-to-rent communities.”
“Oakwood Commons is a high-quality build-to-rent community that is well located in the #1 ranked housing market in the country, according to Bankrate,” said Joe Gibson, Chief Investment Officer for NewStar. “The Property has performed well to date and should continue to benefit from the rapid employment and population growth in the area.”
NE1 UC, DST comprises newly constructed three-bedroom detached homes for-rent in northeast Atlanta, Georgia.
Atlanta, GA
Friday, June 9, 2023
PR Newswire
ABOUT NEWSTAR EXCHANGE:
NewStar Exchange is a subsidiary of NewStar Asset Management that sponsors Delaware Statutory Trust investments for Section 1031 exchange and cash investors. The Company primarily targets high quality build-to-rent housing communities in growing suburban locations of the United States “Sun Belt”.
ABOUT PREFERRED CAPITAL SECURITIES (“PCS”):
PCS (Member FINRA/SIPC) is a fully independent, third-party Managing Broker Dealer focused on both back-office solutions and the wholesale distribution of alternative investments to Independent Broker-Dealers (IBDs) and Registered Investment Advisors (RIAs) across the United States and Puerto Rico. PCS is currently the Managing Broker Dealer of NewStar Exchange, the Preferred Stock offering for Prospect Capital Management (NASDAQ: PSEC), The Priority Income Fund, and WhiteHawk Income Corporation. With a track record that empowers their partners to embark with confidence, PCS is proud to have raised over $3 Billion in retail capital across 8 offerings which have issued approximately $1 Billion in liquidity for its investors since the firm’s inception in 2011.
To learn more about PCS please visit
www.pcsalts.com
Contact: newstar1031@pcsalts.com
