Starboard Realty Advisors, a sponsor of non-traded alternative investments, has fully subscribed Starboard Dylan DST and Starboard Presidio DST, two Delaware statutory trust offerings that raised a combined $59.6 million to purchase two multifamily properties in Fort Worth, Texas.
Starboard Dylan DST launched in January 2022 and closed in April 2022 after raising $35.4 million from accredited investors. The 227-unit Class A property was completed in 2020 and consists of a mix of studio, one-bedroom, two-bedroom, three-bedroom, and townhome-style apartments. Unit amenities include stainless steel appliances, granite countertops/backsplash, in-unit washer/dryer, and private balconies/patios, among others. Community amenities consist of BBQ areas, a swimming pool, dog park, fitness center, and gameroom.
Starboard Presidio DST, which launched in February 2022 and closed in May 2022, raised $24.2 million from accredited investors. The 140-unit Class A property was 100 percent leased at the time of sale and consists of a mix of studios, one-bedroom, and two-bedroom units. Amenities include stainless steel appliances, smart home technology, in-unit washer/dryer, and a patio/balcony or private yard. Community facilities include a fitness center, a dog park with washing station, an outdoor kitchen/dining area, and a swimming pool with views of downtown Fort Worth.
“We are pleased to continue to offer highly-sought after real estate opportunities to our 1031 exchange investors,” said Bill Winn, chief executive officer. “Both properties are less than a 15-minute drive from Downtown Fort Worth, providing residents access to the best of Fort Worth, including major employers, universities, and entertainment.”
Starboard Realty Advisors is a privately held real estate firm that invests in multifamily residential assets, retail shopping centers, and triple net properties for development/redevelopment.
The firm provides investment opportunities to accredited investors, family offices and institutional partners through investment vehicles that include DSTs/tenant-in-common offerings and limited liability companies.