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Sponsors/Starboard Realty Advisors
Starboard Realty Advisors logo

Starboard Realty Advisors

DST sponsor · first SEC filing 2015 · starboard-realty.com ↗

Active offerings2 →Offering sizes $21.3M–$22.6MPrograms on record18 →SEC Form D filings
First filed2015Earliest Form D on record
Property focusMultifamily 100%6 of 11 with a stated type

Counted by Top1031 from SEC Form D filings · updated Oct 15, 2026 · Record Card evaluated Oct 12, 2026

Sponsor Record Card
B
Grade B

4 completed sales; 0 losses or impairments; 4 counted Programs.

Completed sales: 4
Lost or impaired 0 · Counted Programs 4
See the full cardRead the method

Starboard Realty Advisors has sponsored 18 Delaware Statutory Trust (DST) programs found in SEC Form D filings since 2015, most often multifamily properties. Today its SEC filings show two active offerings; the newest was first filed on Mar 2, 2026.

1Offerings 22Record Card3Deal practices4About5Track record 186News7Questions8Similar sponsors
Offerings 2Record CardPracticesAboutTrack record 18NewsQuestionsSimilar sponsors
On this sponsor page
  1. 1Offerings 2
  2. 2Record Card
  3. 3Deal practices
  4. 4About
  5. 5Track record 18
  6. 6News
  7. 7Questions
  8. 8Similar sponsors
  9. 9Next step

Starboard Realty Advisors DST offerings (2 active)

Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest.

Ask a specialist about these offerings
OfferingOffering sizeMinimumAmount soldFirst filedWatchlist
Example record — amount sold shown
The Banks on BradleyMultifamily · Richland, WASEC filing, Mar 2, 2026 ↗
$22.6M$25,000
Filed Mar 2, 2026
None reported
Mar 2, 2026
Makley Place ApartmentsMultifamily · Columbus, OHSEC filing, Sep 2, 2025 ↗
$21.3M$25,000
Filed Sep 2, 2025
None reported
Sep 2, 2025

Open Starboard Realty Advisors in the directory →

Starboard Realty Advisors Record Card

Top1031 Sponsor Record Card

Starboard Realty Advisors

How this letter was decided
B
Grade B

4 completed sales; 0 losses or impairments; 4 counted Programs.

Completed sales 4Losses or impairments 0Counted Programs 4

Of 18 Programs, 4 count toward the Grade: 4 completed sales and 0 losses or impairments. The lines below describe all Programs, including those outside the Grade count.

No documented loss found in searched sources as of Oct 12, 2026.

Programs found in SEC fundraising filings (Form D)
18
Sold, result reported by the sponsor
2
Sold, result not reported by the sponsor
3
Sold according to the sponsor, not yet verified by us
0
Moved into a REIT instead of sold
0
Lost investors' money, or capital at documented risk
0
Older than 7 years, confirmed still operating
1
Older than 7 years, no public outcome found
1
No outcome recorded · under 7 years
11
Share of programs over 3 years old whose status we confirmed
80%
Sources searched
  • SEC EDGAR Form D filings
  • Sponsor offering documents
  • Court, county and regulator records: PACER and federal court dockets, Epiq/KCC/Stretto claims-agent dockets, county recorder and sheriff-sale records, regulator filings, press wires

If we missed a sale, a reported result or a public record, send it. Evidence changes a Grade.

Submit a correction ↗

How does Starboard Realty Advisors build its deals?

From 2 of Starboard Realty Advisors’ offering documents (Aug 2025–Feb 2026). These are the sponsor's own tables, not the Record Card's counts above.

Deal terms · free account

How complete is the track record in its offering documents?
Full record, losses includedFull record, no completed exits yetRecord with gapsSelected results onlyNo results tableRecord with gaps

Some losses are described only in the text.

Full record, losses includedFull record, no completed exits yetRecord with gapsSelected results onlyNo results table
How often did past exits return less than investors put in?
Under 5% of the 10–49 exits in its tablesUnder 5% of the 50+ exits in its tables5–15% of the 10–49 exits in its tables5–15% of the 50+ exits in its tables15% or more of the 10–49 exits in its tables15% or more of the 50+ exits in its tablesNot shown in its offering documentsNot shown in its offering documents
Under 5% of the 10–49 exits in its tablesUnder 5% of the 50+ exits in its tables5–15% of the 10–49 exits in its tables5–15% of the 50+ exits in its tables15% or more of the 10–49 exits in its tables15% or more of the 50+ exits in its tablesNot shown in its offering documents
How many current programs pay less than the sponsor projected?
Under 20% of the 10–49 programs in its tablesUnder 20% of the 50+ programs in its tables20–40% of the 10–49 programs in its tables20–40% of the 50+ programs in its tables40% or more of the 10–49 programs in its tables40% or more of the 50+ programs in its tablesNot shown in its offering documents40% or more of the 10–49 programs in its tables

As reported by the sponsor.

Under 20% of the 10–49 programs in its tablesUnder 20% of the 50+ programs in its tables20–40% of the 10–49 programs in its tables20–40% of the 50+ programs in its tables40% or more of the 10–49 programs in its tables40% or more of the 50+ programs in its tablesNot shown in its offering documents
Can its affiliate buy investors out?
Yes, in all 2 offerings reviewedNo, in all 2 offerings reviewedYes, in 2 of 2 offerings reviewedYes, in all 2 offerings reviewed
Yes, in all 2 offerings reviewedNo, in all 2 offerings reviewedYes, in 2 of 2 offerings reviewed
Does its own master tenant pay the rent?
Yes, in all 2 offerings reviewedNo, in all 2 offerings reviewedYes, in 2 of 2 offerings reviewedYes, in all 2 offerings reviewed
Yes, in all 2 offerings reviewedNo, in all 2 offerings reviewedYes, in 2 of 2 offerings reviewed
Can investors remove the manager?
Only for cause, in all 2 offerings reviewedNo, in all 2 offerings reviewedOnly for cause, in 2 of 2 offerings reviewedOnly for cause, in all 2 offerings reviewed
Only for cause, in all 2 offerings reviewedNo, in all 2 offerings reviewedOnly for cause, in 2 of 2 offerings reviewed

About Starboard Realty Advisors

Starboard Realty Advisors, LLC is a privately held, fully integrated real estate firm headquartered in Irvine, California, which the sponsor says was founded in January 2014 by William H. Winn Jr. and Stephen J. Carlton. Its stated scope covers acquiring, managing, developing and operating multifamily communities, multi-tenant retail shopping centers and single-tenant triple-net properties, with 1031-exchange capital placed through Delaware statutory trusts. Top1031 tracks 18 Starboard-sponsored trusts first filed between 2015 and 2026, including Starboard Makley DST, tied to a 140-unit Columbus, Ohio apartment acquisition reported in August 2025. Two Starboard apartment programs, in Richland, Washington and Atlanta, reached full-cycle sales in December 2021.

Sponsor-stated figures are as reported by the sponsor.Sources: starboard-realty.com · Web page · 2014 · altswire.com · Web page · 2024 · Top1031 sponsor record · altswire.com · Web page · 2025 · sec.gov · SEC filing · 2026 · prnewswire.com · Press release · 2021 · +1 more

Sponsored trusts

Top1031 tracks 18 Starboard-sponsored Delaware statutory trusts, with first filings running from Starboard Diagonal DST in 2015 through Starboard Elan DST in 2024, Starboard Makley DST in 2025 and Starboard Bradley DST in 2026 3.

Dated program events

AltsWire reported on August 22, 2025 that Starboard had acquired Makley Place Apartments, a 140-unit multifamily community in Columbus, Ohio with three ground-level commercial units, and placed it in Starboard Makley DST 4. An issuer filing dated March 2, 2026 for Starboard Bradley DST identifies Starboard Realty Advisors, LLC as the sponsor 5.

Sponsor-reported full-cycle sales

Starboard's release reports the December 14, 2021 sale of Badger Mountain Ranch Apartments in Richland, Washington, held through Starboard Mountain Ranch DST, and a 145% total return to investors 6. A separate Starboard release reports the December 9, 2021 sale of The Metro, a 200-unit Atlanta apartment community held through Starboard Metro DST, and a 128% total return to investors 7.

Show sources (7)Hide sources (7)
  • starboard-realty.com · Web page · 2014 ↗ Sponsor disclosureJan 1, 2014
  • altswire.com · Web page · 2024 ↗ Sponsor disclosureDec 19, 2024
  • Top1031 sponsor record ↗
  • altswire.com · Web page · 2025 ↗ Sponsor disclosureAug 22, 2025
  • sec.gov · SEC filing · 2026 ↗ Public recordMar 2, 2026
  • prnewswire.com · Press release · 2021 ↗ Sponsor disclosureDec 14, 2021
  • prnewswire.com · Press release · 2021 ↗ Sponsor disclosureDec 9, 2021
Written from SEC filings and cited sources · Updated Sep 2, 2026

Starboard Realty Advisors track record (18 programs)

Every program found in SEC Form D filings. Programs with a reported result are listed first, then the rest by first filing year. Each row links to its SEC filings.

Filter by Record Card line
ProgramResult on recordCounted asFiling
Starboard Mesa Ridge DSTFirst filed 2021Completed sale Source ↗
Sold, result reported by others, not by the sponsor
SEC filings ↗
Starboard WA Multifamily III DSTFirst filed 2019Completed sale Source ↗
Sold, no result reported
SEC filings ↗
Starboard Metro DSTFirst filed 2018Completed sale Source ↗
Sold, result reported by the sponsor
SEC filings ↗
Starboard Mountain Ranch DSTFirst filed 2018Completed sale Source ↗
Sold, result reported by the sponsor
SEC filings ↗
Starboard Diagonal DSTFirst filed 2015Completed sale Source ↗
Sold, result reported by others, not by the sponsor
SEC filings ↗
Starboard Bradley DSTFirst filed 2026No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Makley DSTFirst filed 2025No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Elan DSTFirst filed 2024No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Ridgeview DSTFirst filed 2023No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Arden DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Dylan DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Presidio DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Silver Oaks DSTFirst filed 2022No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Harpers DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Jade DSTFirst filed 2021No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Premier DSTFirst filed 2020No sponsor-reported figure
No outcome recorded · under 7 years
SEC filings ↗
Starboard Madison View DSTFirst filed 2019No sponsor-reported figure
Still operating, confirmed
SEC filings ↗
Starboard Lemon Grove DSTFirst filed 2017No sponsor-reported figure
No public outcome found
SEC filings ↗
Show all 18 programsShow fewer

Starboard Realty Advisors news

  1. Sep 15, 2026

    Spotlight: Starboard Realty Advisors, a Multifamily and Net-Lease DST Sponsor

    SQX Alts ↗

  2. Nov 1, 2025

    Banks on Bradley // New Construction Tri-Cities Sale

    Multifamily Mason (broker blog) ↗

  3. Aug 22, 2025

    Starboard Realty Advisors Announces Second DST Offering in Columbus Market

    AltsWire ↗

More Starboard Realty Advisors coverage (12)
  1. Jul 11, 2025

    Starboard Arden DST Lawsuit Investigation

    The White Law Group ↗

  2. Dec 19, 2024

    Starboard Realty Advisors Announces Launch of $28.1M DST Offering in Ohio

    AltsWire ↗

  3. Aug 11, 2026

    Starboard WA Multifamily III DST sold in September 2023

    Event: Sep 2023 · Top1031

  4. Mar 1, 2023

    Starboard Ridgeview DST Examples

    Grace Capital / 1031withgracedst.com ↗

  5. Jul 25, 2022

    Starboard Buys Louisiana Multifamily Property, Sells California Retail Property

    AltsWire ↗

  6. Jul 15, 2022

    Starboard Realty Advisors acquires garden-style apartment community in Gonzales, Louisiana

    PR Newswire (Starboard Realty Advisors) ↗

  7. Jun 30, 2022

    Gonzales complex sells for $76.9 million; is one of bigger apartment deals in area

    The Advocate (Baton Rouge) ↗

  8. Jun 3, 2022

    Starboard Fully Subscribes DST Offerings of Two Fort Worth Multifamily Properties

    AltsWire ↗

  9. Apr 18, 2022

    Starboard Realty Advisors Acquires 308-Unit Apartment Community in Houston Metro

    Houston Agent Magazine ↗

  10. Jan 6, 2022

    Starboard Realty Advisors Completes Acquisition of Highly-Amenitized Apartment Community in Fort Worth, Texas

    PR Newswire (Starboard Realty Advisors press release) ↗

  11. Mar 29, 2025

    Starboard Realty Advisors Puts Dan De Leon at Helm in Exec Leadership Reorg

    AltsWire ↗

  12. Feb 21, 2025

    Starboard Ridgeview DST: Investor Alert

    White Law Group ↗

Questions about Starboard Realty Advisors DSTs

Does Starboard Realty Advisors have DST offerings available now?
Starboard Realty Advisors’ SEC filings show two active DST offerings, with stated offering sizes from $21.3M to $22.6M. Active means an SEC filing in the last 15 months and not reported fully subscribed. It does not confirm you can still invest. The newest was first filed on Mar 2, 2026.
How many DST programs has Starboard Realty Advisors sponsored?
Top1031 found 18 Starboard Realty Advisors programs in SEC Form D filings. The first was filed in 2015. Each is listed in the track record on this page with a link to its SEC filings.
What kind of property does Starboard Realty Advisors put in its DSTs?
Of the 11 Starboard Realty Advisors offering records on Top1031, six are multifamily.
What is the minimum investment for Starboard Realty Advisors DSTs?
Each of its active offerings with a stated minimum lists $25,000, as shown on each offering’s page.
What results has Starboard Realty Advisors published for its DSTs?
On its Record Card, two of its 18 programs sold with a result reported by the sponsor. Another three sold without a result reported by the sponsor. Sponsor-stated figures are as reported by the sponsor; Top1031 does not compute or estimate returns.
How do I ask about Starboard Realty Advisors offerings?
Use the “Ask a specialist about these offerings” button at the top of Starboard Realty Advisors’ offerings list on this page. Top1031 is not a broker-dealer or investment adviser and does not provide tax, legal, or investment advice.

Answers are generated from the counts on this page and change when the record changes.

Other multifamily DST sponsors

  • Capital Square logoCapital Square5 active · 135 programs on record
  • Cantor Fitzgerald logoCantor Fitzgerald5 active · 53 programs on record
  • Passco Companies logoPassco Companies4 active · 104 programs on record
  • Ares (ADREX) logoAres (ADREX)4 active · 23 programs on record
  • Hamilton Zanze logoHamilton Zanze4 active · 20 programs on record
  • How to evaluate a DST sponsor →
  • DST due diligence checklist →
  • The largest DST sponsors, from SEC filings →

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Active and closed offerings, built from SEC filings. Sponsors graded A–F under one published method. Free.

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Top1031 is a data and education platform, not a broker-dealer, investment adviser, tax advisor, law firm, qualified intermediary, or securities issuer.

Information is not advice or an offer to buy or sell securities. DSTs are illiquid private securities with substantial risks, including loss of principal.

Data may be incomplete or delayed, and Top1031 does not audit sponsor-reported figures. Sponsor Grades are editorial sponsor assessments, not offering ratings or recommendations.

Review the current offering documents and consult qualified professionals. Gated offering data is intended for users who self-attest that they are accredited investors.

Commercial relationships are not inputs in the Top1031 Grade method. Losses are counted only from court, county or sponsor-published records.

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