Hadley Crossing (by Stella Homes)
Multifamily property in Charlotte, NC · sponsored by NewStar Exchange
Hadley Crossing (by Stella Homes) was a DST sponsored by NewStar Exchange that owned a multifamily property in Charlotte, NC (44 units). Its last Form D was filed Dec 20, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Dec 20, 2024.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $13,742,848Equity offered, per the Form D
- Sold
- 38.1%Form D, Dec 20, 2024; the % is our arithmetic
- Investors reported
- Form D, Dec 20, 20241
- Selling commissions
- Form D Item 15; the % is our arithmetic$824,571 · 6.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: Hadley Crossing (by Stella Homes). Top1031 is not a broker-dealer.Hadley Crossing (by Stella Homes) · Charlotte, NC · Photo: images.squarespace-cdn.com
What did the Trust own?
NEWSTAR announced the Hadley Crossing single-family rental subdivision in north Charlotte in June 2023 and developed it itself. The neighborhood sits at 4300 Hucks Road in the Highland Creek area and leases under the Stella Homes brand. 1 The homes are four-bedroom detached houses with two-car attached garages. 2 NewStar Exchange acquired the completed community on behalf of the Trust and announced the purchase on December 19, 2024. 2
- Reported location
- Charlotte, NC
- Property size
- 44 units; 1,872 square feet average home size
How was it financed, and what did it cost to sell?
The property carries a first mortgage through Fannie Mae, making this a leveraged DST: investors buy into real estate that already has debt on it, and the lender's claim ranks ahead of equity. 2
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $824,571 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,264,996 · 9.2% of offeringForm D Item 16· The filing’s note: “Estimate includes Broker-Dealer Fee, Organization & Offering Expenses, Sponsor Acquisition Fee, Loan Coordination Fee and Prepaid Asset Management Fee which may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- 2 named in the Form D
Show the firms
- Preferred Capital Securities, LLC · CRD 169719
- RCX Capital Group, LLC · CRD 114290
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Dec 19, 2024
- Minimum investment
- $25,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind the Trust?
The sponsor is the 1031 exchange platform of NewStar Asset Management, with NewStar Exchange II, LLC named as the issuing entity. The firm develops as well as syndicates, which is how a newly built Charlotte neighborhood came to sit inside a trust rather than a stabilized building bought from a third party. Multi-Housing News covered the firm's expanding Charlotte build-to-rent footprint on August 6, 2025, and AltsWire reported a new NewStar trust tied to an Atlanta multifamily asset on February 9, 2026.
- Sponsor
- Offerings on record
What does the SEC record show?
A single Form D — the brief notice an issuer files with the SEC after its first sale — is the entire federal record here, reporting a first sale on December 19, 2024. 4 It was never amended, so it reflects the raise at launch rather than the fully subscribed close the sponsor announced in September 2025. 3
- Legal Trust name
- NewStar 14 Hadley Crossing, DST
- SEC CIK
- 2049509
- First Form D
- Dec 20, 2024
- Latest Form D
- Dec 20, 2024
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D | $13,742,848 | $5,249,344 | 1 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to Hadley Crossing (by Stella Homes)?
- Hadley Crossing (by Stella Homes) is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Dec 20, 2024.
- How much did the offering raise?
- NewStar stated in its September 10, 2025 announcement that the offering launched in December 2024 and raised $13.6 million in aggregate equity from Section 1031 exchange investors. The original Form D reported a total offering amount of $13,742,848. The SEC filing was not amended afterward, so it does not reflect the sponsor's reported final tally.
- Is there a mortgage on the property?
- Yes. NewStar stated at launch on December 19, 2024 that the Trust is financed with a first mortgage through Fannie Mae and that the structure provides 43% leverage to investors on the syndicated basis. In a Delaware statutory trust, investors cannot be asked for more capital to service that loan, but the lender is repaid before equity in any sale or refinancing. Loan terms and maturity are set out in the offering documents.
- Have investors been paid distributions?
- NewStar reported that investors were paid a 4.36% distribution for the second quarter of 2025. That is a single completed quarter reported by the sponsor, not a promise about any future period; distributions on a residential build-to-rent property depend on occupancy, rent levels, and operating costs that change lease by lease.
- Can this Trust convert into REIT shares at exit?
- No 721/UPREIT exit — the structure in which a trust's property is contributed to a REIT's operating partnership in exchange for units, converting a real estate interest into a securities interest — is recorded for this Trust. No exit or sale event has been reported in the sources reviewed as of September 12, 2026.
In the news
Sources
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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.