NewStar Asset Management, a real estate-focused alternative investment and asset management company, announced that NE1 BTR Villages DST, located in The Villages, Florida, is fully subscribed.
NE1 BTR Villages DST comprises 39 newly constructed three-bedroom homes for rent. The offering raised $16.6 million in aggregate equity investment and Preferred Capital Securities served as the managing broker-dealer.
As previously reported by The DI Wire in June 2022, NewStar purchased The Residences at Village Park Center, a built-to-rent single-family residential community on behalf of NE1 BTR Villages DST.
“We are grateful to our new partners in this investment and thank the many investment advisors and financial representatives, as well as our managing broker-dealer, PCS, for facilitating such a successful offering,” said Boone DuPree, chief executive officer for NewStar Asset Management and NewStar Exchange. “We continue to be bullish on the outlook for build-to-rent residential investing as the country faces a single-family housing deficit and for-sale affordability crisis at the same time as the fastest growing segments of the U.S. population are family formation and retirement. At NewStar we are devoting our resources to this strategy across our development and acquisition strategies with maximum conviction.”
NewStar Asset Management is a real estate-focused alternative investment and asset management company based in Atlanta.
Preferred Capital Securities is a third-party managing broker-dealer focused on both back-office services and the wholesale distribution of alternative investments to independent broker-dealers and registered investment advisors across the United States and Puerto Rico. Preferred Capital Securities has raised more than $3 billion in retail capital across eight offerings which have issued approximately $1 billion in liquidity for its investors since the firm’s inception in 2011.