ATLANTA, Dec. 19,
2024 /PRNewswire/ -- NEWSTAR Exchange, a subsidiary
of NEWSTAR, announced today that it has acquired Hadley Crossing by
Stella Homes, a single-family rental
subdivision located in Charlotte, North
Carolina, and launched a new Delaware Statutory Trust
offering for accredited investors seeking to complete like-kind
exchanges under IRC Section 1031.
The property was developed by NEWSTAR and features 44, 4-bedroom
detached homes with two-car attached garages. All homes feature
Hardiplank facades, Quartz countertops, stainless steel appliances,
Stone Plastic Composite ("SPC") floors, soft-close cabinetry,
walk-in showers, framed mirrors, and sodded and fenced-in yards.
NEWSTAR Exchange acquired the property on behalf of Newstar 14
Hadley Crossing, DST.
"Hadley Crossing is NEWSTAR's fourth DST offering, continuing to
grow our Exchange program which has successfully closed out three
programs to-date, raising more than $50
million of equity in partnership with our broker-dealer,
Preferred Capital Securities," said Boone DuPree, Chief Executive
Officer of NEWSTAR. "This single-family rental neighborhood was
developed by NEWSTAR, meeting our site selection criteria, built to
our specifications, and managed to our leasing requirements. The
property reached stabilization within less than 8 months, achieving
the #3 highest build-to-rent rental rates in the Charlotte market, with an average household
income of more than $200,000. We are
excited to launch this new offering for accredited investors
completing tax-deferred exchanges, and to partner once again with
PCS as our managing broker-dealer."
Newstar 14 Hadley Crossing, DST is financed with a first
mortgage through Fannie Mae, offering 43% leverage to DST investors
on the offering's syndicated basis, and seeks to raise
approximately $14 million in equity
from accredited investors. The offering is being distributed by
Preferred Capital Securities in accordance with Rule 506(c) of
Regulation D of the Securities Act.
About NEWSTAR Exchange: NEWSTAR Exchange is
subsidiary of NEWSTAR that invests in and manages Class A
single-family built-to-rent residential communities in growing
suburban locations across the United States "Sun Belt". The Company
invests through Delaware Statutory Trusts which it sponsors, and
brings to market high-quality assets vetted by a rigorous due
diligence process that has been developed and refined over decades
of institutional real estate experience. For more information
visit https://www.newstar-am.com/investment-management.
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, WhiteHawk Minerals, and the
Preferred Stock offering for Applied Digital (NASDAQ: APLD). With a
track record that empowers their partners to embark with
confidence, PCS is proud to
have raised over $5 Billion
in retail capital across 16
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
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SOURCE NewStar Asset Management
