Tranquil Gardens
Multifamily property in Acworth, GA · sponsored by NewStar Exchange
Tranquil Gardens was a DST sponsored by NewStar Exchange that owned a multifamily property in Acworth, GA (73 homes). Its last Form D, filed Jan 6, 2025, reports the offering fully sold.
How it ended
No outcome recorded · under 7 years
The last Form D, filed Jan 6, 2025, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $19,056,971Equity offered, per the Form D
- Sold
- 100%Form D, Jan 6, 2025; the % is our arithmetic
- Investors reported
- Form D, Jan 6, 202573
- Selling commissions
- Form D Item 15; the % is our arithmetic$992,761 · 5.2% 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: Tranquil Gardens. Top1031 is not a broker-dealer.Tranquil Gardens · Acworth, GA · Photo: atlantaagentmagazine.com
What did Tranquil Gardens own?
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
How was it financed, and what did it cost to sell?
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.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $992,761 · 5.2% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,113,086 · 11.0% of offeringForm D Item 16· The filing’s note: “Estimate includes Broker-Dealer Fee, Organization & Offering Expenses, Loan Coordination Fee, Carry Costs and Acquisition Fee which may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- 10 named in the Form D
Show the firms
- Arkadios Capital · CRD 282710
- Capulent LLC · CRD 155155
- Emerson Equity LLC · CRD 130032
- FNEX Capital, LLC · CRD 166316
- Great Point Capital LLC · CRD 114203
- Nationwide Planning Associates Inc. · CRD 31029
- Preferred Capital Securities, LLC · CRD 169719
- RCX Capital Group, LLC · CRD 114290
- Realized Financial, Inc. · CRD 22333
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Oct 4, 2023
- 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 Tranquil Gardens?
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
- Offerings on record
What does the SEC record show?
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.
- Legal Trust name
- NewStar 6 Tranquil Gardens BTR, DST
- SEC CIK
- 1999217
- First Form D
- Nov 2, 2023
- Latest Form D
- Jan 6, 2025
- Filings on record
- 3
- 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 | $19,056,971was $19,104,805 | $19,056,971+$14,693,352 | 73+51 | EDGAR | |
| Form D/A | $19,104,805 | $4,363,619+$2,683,397 | 22+16 | EDGAR | |
| Form D | $19,104,805 | $1,680,222 | 6 | 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 Tranquil Gardens?
- Tranquil Gardens is a Historical offering. The last Form D, filed Jan 6, 2025, reports the offering fully 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.
- 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 offering documents.
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.