NewStar Exchange Announces Acquisition of Newly Constructed Built-to-Rent (“BTR”) Community in The Villages, Florida

NewStar Exchange (the “Company”) announced today its acquisition of The Residences at Village Park Center, a built-to-rent single family residential community located in The Villages, approximately 55 miles northwest of Orlando, Florida.

According to the U.S. Census Bureau, The Villages was the fastest growing U.S. metropolitan area for 2010 – 2019, and it is the largest active adult community in the world, with a total population of more than 130,000 spanning three counties and approximately 33,000 acres. The property is 100% leased and features newly constructed single-story, 3-bedroom / 2-bathroom floor plans totaling 1,544 square feet per home, including two-car attached garages, ceramic tile and LVT flooring, quartz countertops, stainless steel appliances, and screened-in lanais. The property is not subject to an age restriction and homes are attainably priced for family housing with average in-place monthly rents of $1,996, or $1.29 per square foot, and recent leasing at $2,095, or $1.36 per square foot. The Company acquired the property all-cash on behalf of NE1 BTR Villages, DST.

“We are excited to announce the closing of our second investment for NewStar Exchange,” said Joe Gibson, Chief Investment Officer for NewStar. “Located in the center of The Villages, The Residences at Village Park Center is a rare, non-age restricted BTR community that caters to the broader local population, including the employees of The Villages’ community and their families. Given the ongoing growth of The Villages and limited non-age restricted family housing, we believe the property will continue to experience significant demand.”

NE1 BTR Villages, DST seeks to raise $16.3 million in equity from accredited investors and has a minimum investment requirement of $100,000 for 1031 investors and $25,000 for cash investors. The offering is being distributed by Preferred Capital Securities.

(This news/press release has not been altered by, apart from the headline, and has been obtained from a syndicated )