Sweetwater Springs
Multifamily property in Lawrenceville, GA · sponsored by NewStar Exchange
Active offeringLatest Form D filed Mar 5, 2026 (opens in a new tab)
Sweetwater Springs is a DST sponsored by NewStar Exchange that owns a multifamily property in Lawrenceville, GA (95 units). Its latest Form D, filed Mar 5, 2026, lists a $21.8 million offering with a $25,000 minimum.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $21,808,522Equity offered, per the Form D
- Sold so far
- None reported as of Mar 5, 2026Form D, Mar 5, 2026
- Selling commissions
- Form D Item 15; the % is our arithmetic$1,308,511 · 5.9% 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 →
Sales so far
- Latest Form D
- Mar 5, 2026 · 1 filing
No sales reported in a Form D amendment yet. Latest notice Mar 5, 2026.
Weighing this offering for your exchange? A licensed 1031 specialist from our affiliated partner can go through these filings with you.
Ask a 1031 specialist about this recordFree. About: Sweetwater Springs. Top1031 is not a broker-dealer.Sweetwater Springs · Lawrenceville, GA · Photo: willowbridgepc.com
Lawrenceville, GA · no mappable address in the filings.
What does Sweetwater Springs own?
Parkland Residential completed construction of the community in 2025. 2 The Trust bought it on February 6, 2026 from Sweetwater Landing, LLC and Sweetwater Landing 2, LLC for a stated $33,065,000, taking two parcels totaling roughly 7.47 acres. 1 The offering documents put total acquisition cost at $34,329,352. 1 The sponsor reported the community 94% leased as of January 2026. 3
- Property address
- 1510 Duluth Highway, Lawrenceville, Georgia 30043
- Property size
- 95 units (avg 1,803 SF)
How is it financed, and what did it cost to sell?
Part of the purchase was funded with mortgage debt, which is repaid ahead of investor equity from operating cash flow and from any eventual sale. NewPoint Real Estate Capital made the $17,600,000 acquisition loan under a Freddie Mac conventional fixed-rate program. 1
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- May convert to a REIT (721)
- Loan interest rate
- 5.10% fixed From NewStar Exchange’s offering documents (Feb 2026). As reported by the sponsor.
Costs and terms from the Form D
- Selling commissions
- $1,308,511 · 5.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,680,660 · 7.7% of offeringForm D Item 16· The filing’s note: “Estimate includes Broker-Dealer Fee, Organization & Offering Expenses, Sponsor Acquisition Fee, and Loan Coordination Fee which may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Preferred Capital Securities, LLC · CRD 169719
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- 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.
What are the deal terms?
From NewStar Exchange’s offering documents (Feb 2026).
Your exit
- Can the sponsor's affiliate buy investors out?
- No
Rent and the bills
- Who pays rent to the trust?
- A master tenant affiliated with the sponsor
- Who pays for roof and structural repairs?
- Investors, through the trust
- Who pays if taxes or insurance go up?
- Investors, through the trust
- Was the property bought from a sponsor affiliate?
- No
Your rights
- Can investors remove the manager?
- Only for cause
- How are disputes with the sponsor resolved?
- Mandatory arbitration
Who's behind Sweetwater Springs?
The Form D names NewStar Exchange III, LLC as the sponsor, and the "17" in the Trust's legal name marks it as one entry in a numbered series from the same 1031 platform. 4 NewStar announced the acquisition and this offering together on February 9, 2026, and Atlanta and national trade press carried the announcement through February and March. As of October 4, 2026, the sponsor's current-offerings page still listed the Trust and dated the offering's start to February 2026. 3
- Sponsor
- Offerings on record
What does the SEC record show?
No amendment has followed the original notice of exempt offering, so the public record has not moved since launch. Because the offering may be generally solicited and advertised, the sponsor must take reasonable steps to verify each buyer's accredited status rather than accept a self-certification.
- Legal Trust name
- NewStar 17 Sweetwater Springs, DST
- SEC CIK
- 2116031
- First Form D
- Mar 5, 2026
- Latest Form D
- Mar 5, 2026
- 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 | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $21,808,522 | $0 | 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
- Is Sweetwater Springs an active offering?
- Sweetwater Springs is an Active offering: its latest Form D was filed Mar 5, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What exactly does the Trust own?
- Sweetwater Springs, a 95-unit townhome rental community averaging 1,803 square feet per home at 1510 Duluth Highway in Lawrenceville, Georgia, in the Atlanta metro. Top1031's address data also records 1540 Duluth Highway for the same site, and the offering documents describe two parcels totaling approximately 7.47 acres containing 95 townhome apartments. The memorandum states the Trust acquired the property on February 6, 2026 from Sweetwater Landing, LLC and Sweetwater Landing 2, LLC for $33,065,000, and reports $34,329,352 in total acquisition cost including closing and financing costs. Investors buy beneficial interests in the trust, not deeded parcels.
- Who is the tenant, and how does rent reach investors?
- Rent arrives in two layers. Per the memorandum, the Trust leases the entire property to NE Sweetwater Springs Leaseco, LLC — a wholly owned subsidiary of the sponsor — under a master lease with an initial term of ten years and 91 days, subject to its extension provisions. Residents hold ordinary residential subleases with that affiliate. The master tenant bears property operating, management and maintenance costs, while the Trust is responsible for defined capital expenses. Note that the property being 100% leased under the master lease is a structural fact, not a measure of how many homes residents occupy.
- How leased is the community?
- The sponsor reported Sweetwater Springs 94% leased as of January 2026, and NewStar's February 9, 2026 announcement of the acquisition described the 95-unit community as 94% leased. Both are point-in-time figures tied to the transaction period, not a current measurement. Top1031's October 4, 2026 research run did not establish an independently verified current resident-occupancy figure; today's leased percentage is a question for the sponsor or your broker-dealer.
- What is the debt on the property?
- A $17,600,000 acquisition loan from NewPoint Real Estate Capital LLC, made under a Freddie Mac conventional fixed-rate program on February 6, 2026, funded part of the purchase. The memorandum states a fixed 5.10% annual interest rate and a March 1, 2036 maturity. NewPoint announced the financing publicly on March 12, 2026. The memorandum also reports a Newmark appraisal dated December 29, 2025 valuing the property at $34,100,000 as-is; that appraisal was not separately reviewed. Reserves, prepayment terms, covenants and default remedies are set out in the loan documents and the memorandum.
- Why do I see two different minimum investments?
- They come from different documents. The Form D filed March 5, 2026 lists a $25,000 minimum, while sponsor materials set a $100,000 minimum for Section 1031 exchange investors and $25,000 for cash investors. Top1031 preserves both as source-specific figures rather than reconciling them; the binding minimum is the one stated in the memorandum and subscription agreement you sign.
- What does a Rule 506(c) offering mean for me?
- Rule 506(c) is the private-placement exemption that permits general solicitation and advertising, which is why this Trust appears in press releases and trade publications. The trade-off is verification: the sponsor must take reasonable steps to confirm each purchaser is an accredited investor — typically through tax returns, brokerage statements, or a letter from a CPA, attorney or registered investment adviser — rather than accepting a self-certification checkbox.
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.