Hadley Crossing (by Stella Homes)
Multifamily / single-family build-to-rent (BTR) property in Charlotte, NC — sponsored by NewStar Exchange
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
Hadley Crossing is a build-to-rent neighborhood of detached rental homes in north Charlotte, North Carolina, held by NewStar 14 Hadley Crossing, DST — a Delaware statutory trust, the ownership form that lets 1031 exchange investors hold fractional real estate. NewStar Exchange developed and then acquired the community, launching the offering in December 2024. The sponsor announced the raise fully subscribed on September 10, 2025.3
Minimum investment
$25k
Offering size
$13.7M
How much has sold
38.0%
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
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
Who is the tenant, and what's the lease?
There is no single corporate tenant here: income comes from individual household leases on detached homes, so occupancy and rents reset continuously rather than sitting under one long net lease. NEWSTAR reported the homes were 93% leased within eight months of initial delivery.3 The operator's leasing site lists individual homes as available.5
How did it end?
Still operating
No full-cycle, sale, 721/UPREIT, or foreclosure announcement found; the Hadley Crossing BTR community in Charlotte, NC remains in operation and actively rented as of 2026 (NewStar's own past-offerings page shows 'OFFERING CLOSED SEPTEMBER 2025' referring to subscription close, not a property sale).
Newly constructed BTR subdivision in the Davis Lake/Eastfield area of north Charlotte (ZIP 28269). Developed and acquired by NEWSTAR; managed/operated by Stella Homes. Floor plans include Elm (1,712 SF), White Oak (2,005 SF), and Magnolia (1,724 SF). Sponsor: NewStar Exchange II, LLC.
44 units; 1,872 square feet average home sizeSupporting evidence
Counted on NewStar Exchange’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
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
Who's behind it?
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
- NewStar Exchange
- May convert to a REIT
- No
- Offerings from this sponsor
- 1 active / 5 total offerings from NewStar Exchange
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
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
- Form D filedFirst and latest filing on record.
- Legal Trust name
- NewStar 14 Hadley Crossing, DST
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to Hadley Crossing (by Stella Homes)?
Hadley Crossing (by Stella Homes) is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Hadley Crossing (by Stella Homes)?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
NewStar announced on September 10, 2025 that NewStar 14 Hadley Crossing, DST was fully subscribed, and the sponsor lists it on its past-offerings page as closed.[6] The federal record was never updated to reflect that: the only Form D on file is the original from December 2024. Anyone evaluating availability should confirm directly with the sponsor or a selling broker-dealer.
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.[3] The original Form D reported a total offering amount of $13,742,848.[4] The SEC filing was not amended afterward, so it does not reflect the sponsor's reported final tally.
What does Rule 506(c) mean for me as an investor?
Rule 506(c) is the private-placement exemption that lets a sponsor advertise an offering publicly, on the condition that every purchaser is an accredited investor whose income or net worth is actually verified — typically with tax returns, brokerage statements, or a letter from a CPA or attorney. Self-certification, which is allowed under the quieter 506(b) route, is not enough under 506(c).
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.[2] 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 private placement memorandum, the offering document that governs the deal.
Have investors been paid distributions?
NewStar reported that investors were paid a 4.36% distribution for the second quarter of 2025.[3] 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.
Chapter 9NewStar Exchange Fully Subscribes $13.6 Million Built-to-Rent DST OfferingAltsWire reports that NewStar 14 Hadley Crossing, DST has been fully subscribed; the offering, launched Dec 2024, raised $13.6M in aggregate equity from Section 1031 exchange investors. NEWSTAR Expands Charlotte BTR FootprintTrade-press article noting that NEWSTAR developed the 44-home Hadley Crossing community and that the property is part of NEWSTAR's expanding Charlotte build-to-rent portfolio. NewStar Exchange Acquires Newly Constructed Built-to-Rent ("BTR") Community in Charlotte, North Carolina and Launches New 1031 Delaware Statutory Trust OfferingPress release announcing NewStar's acquisition of Hadley Crossing by Stella Homes (44 detached BTR homes) and the launch of a new DST seeking ~$14M in equity from 1031-exchange investors. NewStar Exchange Launches $14 Million DST Offering on Behalf of Charlotte, N.C., AssetTrade-press coverage of the NewStar 14 Hadley Crossing, DST launch, confirming 44 four-bedroom detached homes and ~$14M target raise. NewStar Announces Charlotte, North Carolina Single Family Rental Subdivision Hadley Crossing by Stella HomesEarlier announcement of the development of Hadley Crossing by Stella Homes (3- and 4-bedroom single-family rentals) in north Charlotte — pre-dates the DST acquisition but describes the underlying property.