Tranquil Gardens
Multifamily / single-family build-to-rent (BTR) property in Acworth, GA — sponsored by NewStar Exchange
Files with the SEC as NewStar 6 Tranquil Gardens BTR, DST
Minimum investment
$25k
Offering size
$19.1M
How much has sold
100.0%
Asset type
Multifamily / single-family build-to-rent (BTR) property
Location
Acworth, GA
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Tranquil Gardens is a Delaware statutory trust (DST) — a structure that lets 1031 exchange investors hold fractional interests in real estate — that is closed to new investors. It holds a newly constructed single-family build-to-rent community in the Woodstock area of suburban Atlanta (Acworth mailing address), Cherokee County, Georgia. NewStar Exchange acquired the property in September 2023 and announced the offering fully subscribed on August 19, 2024.4
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These links support the historical public record; individual details may come from different 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 Exchange announced on September 13, 2023 that it had acquired Tranquil Gardens, a newly constructed build-to-rent community, on behalf of this trust.1 The sponsor describes the homes as three- and four-bedroom houses with two-car garages and private yards.2 It also states that after Cherokee County added a rental restriction to its single-family zoning, Tranquil Gardens was grandfathered in and approved as a single-family home-for-rent property.2
- Reported location
- Acworth, GA
- Property size
- 73 homes
Who is the tenant, and what's the lease?
There is no single corporate tenant here: income comes from individual households renting the homes under ordinary residential leases, so occupancy and rents turn over continuously rather than resting on one long-term contract. The community is presented as managed by ResiHome, a single-family rental operator.3
How did it end?
Closed to new investment · still operating
No full-cycle, sale, 721/UPREIT, or foreclosure announcement found; the Tranquil Gardens BTR community in Acworth/Woodstock, GA remains in operation and actively rented as of 2026 (NewStar's own past-offerings page indicates 'OFFERING CLOSED JUNE 2024' referring to subscription close, not a property sale).
73 newly constructed three- and four-bedroom attached and detached single-family for-rent homes in the Woodstock suburb of Atlanta (Acworth mailing address), Cherokee County, GA. ~$19.1M aggregate equity from 1031 exchange investors; offering fully subscribed in 2024.
73 homesSupporting evidence
Counted on NewStar Exchange’s Record Card as: Still operating Document
How is it financed, and what does it pay?
This is a leveraged trust rather than an all-cash one. NewStar reported at acquisition that the property was financed with a first mortgage through Freddie Mac, the government-sponsored housing lender.1 The loan sits at the trust level, ahead of investors in the capital stack, and DST investors have no ability to renegotiate or refinance it themselves.
Who's behind it?
NewStar Exchange is the 1031 exchange platform of NewStar Asset Management, which sponsors DSTs holding single-family build-to-rent communities. Form D filings name NewStar Exchange I, LLC as sponsor and Boone DuPree as chief executive officer.6 PCS served as managing broker-dealer on this offering.4 The firm has continued raising build-to-rent DSTs since: trade press reported on September 10, 2025 that NewStar had fully subscribed a $13.6 million build-to-rent DST.7
- Sponsor
- NewStar Exchange
- Legal Trust name
- NewStar 6 Tranquil Gardens BTR, DST
- 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?
The trust was offered under Rule 506(c), the exemption that permits public marketing but limits purchasers to verified accredited investors. The initial Form D reported a first sale on October 4, 2023.5 Later amendments tracked the raise until the final one recorded it as complete, with nothing left to sell.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 3
- 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 Tranquil Gardens?
Top1031 lists Tranquil Gardens as historical. It is no longer raising money.
Where does Top1031 get the data for Tranquil Gardens?
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 Tranquil Gardens?
No. This trust is closed to new investors. NewStar announced on August 19, 2024 that NewStar 6 Tranquil Gardens BTR, DST had been fully subscribed, and the sponsor's past-offerings page states the offering closed in June 2024. The final Form D amendment, filed January 6, 2025, reported nothing remaining to be sold.
Where exactly is the property?
The property website gives the address as 1031 Tranquil Gardens Place, Acworth, GA 30102. The sponsor describes the location as Woodstock, Georgia, in Cherokee County, roughly northwest of Atlanta; the Acworth designation is the mailing address for the same site.
What has the sponsor said about how the property performed?
At acquisition on September 13, 2023, NewStar reported that Tranquil Gardens was 95% leased and had reached 95% occupancy within five months of completion. The sponsor's property page, with statistics stated as current to September 2023, reported average in-place rents of $2,473 per month ($1.38 per square foot) across an average home size of 1,794 square feet. In its August 19, 2024 announcement, NewStar reported in-place rents up 6% on an annualized basis and an approximately 25% rent premium relative to the competitive set. No more recent occupancy figure was located.
How much debt is on the property?
NewStar reported at the September 13, 2023 acquisition that the trust was financed with a first mortgage through Freddie Mac providing 40% leverage to DST investors on the offering's syndicated basis. The loan principal, interest rate, amortization, and maturity date were not located in public sources.
Is there a 721/UPREIT exit?
Nothing in the record indicates a 721/UPREIT exit — the arrangement where a DST's property is later contributed to a REIT's operating partnership in exchange for partnership units. Public filings do not disclose a planned exit path, sale date, or hold period for this trust, and no sale or other outcome has been reported.
What is not publicly known about this trust?
The acquisition purchase price, the mortgage loan terms, the master lease terms between the trust and its operating tenant, and current occupancy are not confirmed in any public source located. Form D filings disclose the offering size and investor count but not economics; those details live in the private placement memorandum (PPM), the offering document delivered to prospective investors.
Chapter 9NewStar Exchange Fully Subscribes DST Offering for Newly Constructed Built-to-Rent ("BTR") Community in Atlanta, GeorgiaNewStar announced that NewStar 6 Tranquil Gardens BTR, DST has been fully subscribed, raising $19.1M in aggregate equity from Section 1031 exchange investors; PCS served as managing broker-dealer. NewStar Asset Management picks up Woodstock BTR subdivisionLocal Atlanta real-estate trade coverage of NewStar's $19M acquisition of Tranquil Gardens, a 73-home BTR community in Woodstock, GA. NewStar Exchange Acquires Newly Constructed Built-to-Rent (BTR) Community in Suburban Atlanta and Launches New 1031 Delaware Statutory Trust OfferingNewStar Exchange acquired Tranquil Gardens, a 73-home BTR community in suburban Atlanta (Woodstock/Acworth, GA), and launched a ~$19M 1031 DST offering for accredited investors.