Sponsor profile
SEC filings + cited sources
Starboard Realty Advisors is a privately held, fully integrated real estate investment firm headquartered in Irvine, California, focused on acquiring, developing, and managing multifamily and commercial properties nationwide. Since 2015 it has sponsored a series of Delaware statutory trust programs for 1031 exchange investors, beginning with retail shopping centers and expanding toward Class A multifamily communities. The sponsor reports cumulative acquisitions exceeding $250 million and more than 1,000 multifamily units acquired. Its tracked program history spans fifteen named DST offerings first filed between 2015 and 2026, across markets including Colorado, Washington, and Ohio.
Platform and strategy
Starboard Realty Advisors, LLC is a privately held, fully integrated real estate investment firm based in Irvine, California, that acquires, develops, and manages multifamily and commercial real estate across the United States 1. The sponsor states cumulative acquisitions exceeding $250 million and more than 1,000 multifamily units acquired to date 1.
DST program history
Starboard has sponsored a sequence of Delaware statutory trust programs structured for 1031 exchange investors, with fifteen named DST entities first filed between 2015 and 2026 2. Its earliest tracked program, Starboard Diagonal DST, acquired the Diagonal Marketplace Shopping Center in Longmont, Colorado for $11,850,000 on April 10, 2015 — a 36,080-square-foot, three-building shopping center on 3.08 acres — paired with a $5,350,000 equity raise 3. A later program, Starboard Mesa Ridge DST, identified Starboard as sponsor and manager offering up to $5,600,000 of trust interests structured to qualify for 1031 exchange treatment 4. Over time the program mix moved toward Class A multifamily communities across markets including Colorado, Washington, and Ohio 2.
Representative completed programs
Starboard reports several realized portfolio dispositions. Metro Apartments, a multifamily asset, was recorded as sold in December 2021 6, as was Badger Mountain Ranch Apartments, also multifamily, in December 2021 7. On the commercial side, Arvada West Town Center, a retail property, was recorded as sold in April 2022 5. These are sponsor-reported.
Recent activity
In May 2026, offering materials documented Starboard Makley DST, a $45 million program for a 140-unit Class A mixed-use community with three ground-floor retail suites at 210 West 5th Avenue, Columbus, Ohio, capitalized with Freddie Mac interest-only debt at a stated 52.64% loan-to-value 8.