The Residences at Village Park Center
Built-to-rent single-family residential property in The Villages, FL · sponsored by NewStar Exchange
The Residences at Village Park Center was a DST sponsored by NewStar Exchange that owned a built-to-rent single-family residential property in The Villages, FL (39 units). Its last Form D, filed Mar 20, 2023, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Mar 20, 2023, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $16,335,632Equity offered, per the Form D
- Sold
- 100%Form D, Mar 20, 2023; the % is our arithmetic
- Investors reported
- Form D, Mar 20, 202353
- Selling commissions
- Form D Item 15; the % is our arithmetic$980,138 · 6.0% of offering
- Financing
- All cash. This offering reports no mortgage debt.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: The Residences at Village Park Center. Top1031 is not a broker-dealer.The Residences at Village Park Center · The Villages, FL · Photo: images.squarespace-cdn.com
What did the Trust own?
The homes were completed in 2021, each with an attached two-car garage. 3 NewStar Exchange announced its acquisition of the community, in The Villages, Florida, on June 21, 2022. 2 Multi-Housing News reported the purchase came from an undisclosed seller in the Orlando area. 4 The sponsor described the community as fully leased as of May 2022, with average in-place rents of $1,996 per month. 3
- Reported location
- The Villages, FL
- Property size
- 39 units; 3-bedroom/2-bath homes; 1,544 square feet average home size
How was it financed, and what did it cost to sell?
The sponsor described the Offering as unlevered — no mortgage on the property, so no lender, no loan covenants, and nothing to refinance. 3 Multi-Housing News reported the acquisition was all-cash. 4 An exchanger carrying debt on a relinquished property gets no replacement mortgage from a structure like this.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $980,138 · 6.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,019,695 · 6.2% of offeringForm D Item 16· The filing’s note: “Estimate includes Broker-Dealer Fee, Organizational Costs, Acquisition Fee and Bridge Financing Coordination Fee that may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 10 named in the Form D
Show the firms
- Advisory Group Equity Services Ltd. · CRD 15427
- Client One Securities LLC · CRD 152974
- Colorado Financial Service Corporation · CRD 104343
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Nationwide Planning Associates Inc. · CRD 31029
- Preferred Capital Securities, LLC · CRD 169719
- RCX Capital Group, LLC · CRD 114290
- Realized Financial, Inc. · CRD 22333
- Realta Equities, Inc. · CRD 23769
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Jun 30, 2022
- 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?
NewStar Exchange runs the 1031 exchange platform behind this Trust. The Form D names NewStar Exchange I, LLC as sponsor, NewStar Villages Depositor, LLC as depositor, NE1 BTR Villages Manager, LLC as administrative trustee, and Boone Dupree as chief executive officer. 1 NewStar offering documents dated March 2026 for a later offering list this Trust, referred to there as Crescent Villas, among its operating programs. 6
- Sponsor
- Offerings on record
What does the SEC record show?
The filing record is short: an initial Form D notice, then a single amendment that updated the sale figures and reported no amount remaining. 5 The Trust was offered under the general-solicitation exemption, which lets a sponsor advertise the deal publicly but requires it to verify that every investor is accredited — meeting the SEC's income or net-worth tests.
- Legal Trust name
- NE1 BTR Villages, DST
- SEC CIK
- 1934815
- First Form D
- Jun 22, 2022
- Latest Form D
- Mar 20, 2023
- Filings on record
- 2
- 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/A | $16,335,632 | $16,335,632+$16,335,632 | 53 | EDGAR | |
| Form D | $16,335,632 | $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
- What happened to The Residences at Village Park Center?
- The Residences at Village Park Center is a Historical offering. The last Form D, filed Mar 20, 2023, reports the offering fully sold.
- Where exactly is the property?
- The community is The Residences at Village Park Center in The Villages, Florida, in the Orlando area, per NewStar Exchange's June 21, 2022 announcement and Multi-Housing News coverage.
- Who is the tenant?
- There isn't one corporate tenant. This is single-family built-to-rent housing leased to individual households, which means the Trust's cash flow depends on residential occupancy and renewals across the homes rather than on one lease with one company. No reviewed source identified a master lease or a named operator tied to this Trust.
- Is there a mortgage on the property?
- The sponsor described the Offering as unlevered, and Multi-Housing News reported an all-cash acquisition. For a 1031 exchanger, that matters in both directions: there is no loan maturity or lender risk at the property, but there is also no debt at the Trust level to help replace mortgage debt that was paid off on a relinquished property.
- Does this Trust convert into a REIT?
- The record shows no 721/UPREIT conversion feature — that is a structure where DST interests are eventually exchanged for operating-partnership units in a REIT, ending 1031 eligibility on any later sale. Nothing in this Trust's filing record or the sponsor materials reviewed describes such an exit.
- What is known about the Trust after the raise closed?
- NewStar offering documents dated March 2026, prepared for a later offering, list NE1 BTR Villages, DST among the sponsor's currently operating programs. No sale, refinancing, or other disposition of the property was reported in the sources reviewed as of August 22, 2026.
In the news
Sources
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These links support the record as a whole; individual details may come from different sources.
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.