NewStar Exchange Buys Orlando-Area BTR Community

The new subsidiary focuses on Class A assets in key Sun Belt markets.

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NewStar Asset Management has made the second investment for its subsidiary that invests through Delaware Statutory Trusts. Its subsidiary, NewStar Exchange, has acquired The Residences at Village Park Center from an undisclosed seller in an all-cash transaction.

NewStar Exchange made the acquisition on behalf of NE1 BTR Villages DST, who will be looking to raise $16.3 million in equity from accredited investors with a minimum investment of $100,000 for 1031 investors, while cash investors have to make a minimum investment of $25,000. The offering is being distributed by Preferred Capital Securities.

The Residences at Village Park Center was recently completed as a built-to-rent single family residential community. The non-age restricted community offers 1,544-square-foot three-bedroom units that were built with two-car attached garages and screened-in lanais. NewStar Exchange said The Residences at Village Park Center was fully leased.

Located at 3122 E. Amelia St. in The Villages, Fla., the community is approximately 55 miles away from Orlando. Nearby, the area also features a collection of retirement neighborhoods, making for the largest active adult community in the world, according to the U.S. Census Bureau.

Joe Gibson, CIO for NewStar, said in prepared remarks that The Residences at Village Park Center will continue to see significant demand due to the growth of the surrounding area and the limited amount of non-age restricted family housing in The Villages.


Gibson also said in prepared remarks that The Residences at Village Park Center is the second investment for NewStar Exchange. Previously the subsidiary acquired a 23-unit built-to-rent community that was also recently delivered in 2022 and is located about 50 miles northeast of Atlanta.

NewStar Asset Management launched Newstar Exchange in April with the acquisition of the University Commons in the Atlanta metro. Overall, the subsidiary is focused on investing in Class A multifamily and single family built-to-rent communities in growing suburban locations in Texas, the Southeast and the broader Sun Belt region.

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