NEWSTAR Exchange Acquires Hadley Crossing to Expand BTR Offerings in North Carolina
NEWSTAR Exchange, a notable player in the real estate investment sector, has recently made waves with its acquisition of Hadley Crossing, a newly constructed Built-to-Rent (BTR) community located in Charlotte, North Carolina. This strategic move marks a significant expansion in NEWSTAR's residential portfolio and showcases the burgeoning demand for single-family rental properties in suburban areas. The Hadley Crossing neighborhood, developed by Stella Homes, features an impressive layout of 44 detached homes, each boasting four bedrooms and two-car garages. The homes are outfitted with top-quality materials and appliances, including Hardiplank exteriors, elegant quartz countertops, and durable Stone Plastic Composite (SPC) flooring. Each residence also includes desirable features such as soft-close cabinetry, spacious walk-in showers, framed mirrors, and fenced-in yards, adding up to an attractive living environment for potential renters. CEO Boone DuPree emphasized the significance of this acquisition, stating, 'Hadley Crossing is NEWSTAR's fourth Delaware Statutory Trust (DST) offering, further demonstrating our commitment to expanding our Exchange program.' With three successful closings under their belt and over $50 million raised in equity, NEWSTAR aims to leverage this latest addition to attract accredited investors looking for tax-efficient investment opportunities. The property has achieved remarkable stabilization, reaching occupancy rates in less than eight months and recording some of the highest rental rates in the Charlotte market—averaging demographic household incomes exceeding $200,000. As part of this initiative, NEWSTAR has launched a new offering for accredited investors to facilitate tax-deferred exchanges under IRC Section 1031, providing an effective pathway for those looking to manage their investment portfolios. NEWSTAR 14 Hadley Crossing, DST, is financed with a Fannie Mae first mortgage, allowing for 43% leverage on the investment's syndicated basis. The DST offering aims to raise approximately $14 million from accredited investors and is being distributed through Preferred Capital Securities (PCS), a respected managing broker-dealer in the industry. Since its inception, NEWSTAR Exchange has been dedicated to investing in high-quality, Class A single-family BTR communities primarily in suburban locations across the United States, particularly focusing on what is often referred to as the 'Sun Belt.' The firm sponsors these investments through Delaware Statutory Trusts (DSTs), ensuring rigorous due diligence processes are followed to vet all potential assets meticulously. For further inquiries regarding investment opportunities and more details about the Hadley Crossing venture, interested parties are encouraged to visit NEWSTAR's dedicated investment management website. Here, they can access additional information on the company’s ongoing projects and future offering prospects. With this recent acquisition, NEWSTAR Exchange is not only expanding its operations but also reaffirming its commitment to providing quality rental properties in high-demand regions, integrating responsible investment strategies with superior housing solutions to foster community growth in the residential sector.