Home Alts News NewStar Exchange Subscribes Georgia DST Offering

NewStar Exchange Subscribes Georgia DST Offering

NewStar Exchange, a sponsor of Delaware statutory trust offerings, announced that NE1 UC, DST has been fully subscribed.

Newstar says the offering raised $10.3 million in aggregate equity investment from Section 1031 exchange investors. Preferred Capital Securities 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.

NE1 UC, DST comprises newly constructed three-bedroom detached homes for rent in northeast Atlanta, Georgia.

“Oakwood Commons is a high-quality, build-to-rent community that is well located in the top 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.”

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.

For more Preferred Capital Securities news, please visit their directory page.