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NewStar Exchange

NEWSTAR Exchange is subsidiary of NEWSTAR that invests in and manages Class A single-family built-to-rent residential communities in growing suburban locations across the United States “Sun Belt.” The Company invests through Delaware Statutory Trusts which it sponsors, and brings to market high-quality assets vetted by a rigorous due diligence process that has been developed and refined over decades of institutional real estate experience.

Targeted Sunbelt Markets

The Company believes this region demonstrates attractive long-term market fundamentals that may
result in strong operating performance and favorable capitalization rates for valuations upon exit.

About NewStar

NEWSTAR acquires, develops, owns and operates single-family residential communities across the Southeastern United States. NEWSTAR’s businesses span land acquisition and development, development of new, single-family rental subdivisions, and asset management of stabilized communities with a long-term investment horizon. From sourcing land, to developing lots, to building and leasing homes for families in new rental communities with Class A finishes and amenities, NEWSTAR invests day in and day out to provide better housing for our communities.

The NewStar Team

BOONE DUPREE is Chief Executive Officer for NEWSTAR, which he founded in 2021. Prior to forming NEWSTAR, Mr. DuPree most recently served as an executive for Preferred Apartment Communities, Inc. (“PAC”), a publicly traded real estate investment trust that was acquired by Blackstone in 2022. From its initial public offering through the company’s sale to Blackstone, PAC issued more than $2.6 billion of non-listed preferred stock and paid more than $675 million in preferred dividends.

At the time of its sale to Blackstone, PAC owned 44 high-quality multifamily communities totaling approximately 12,000 units concentrated in Atlanta, Orlando, Tampa, Jacksonville, Charlotte, and Nashville, in addition to 54 grocery-anchored shopping centers and approximately 1 million square feet of Class A office property. Mr. DuPree served as a named executive officer for PAC and oversaw an operating portfolio worth more than $1 billion, and a development portfolio worth $1 billion comprising mixed-use projects across the Southeast and Texas. Before PAC, Mr. DuPree served on the investments team for Cousins (NYSE: CUZ), a publicly traded real estate investment trust based in Atlanta, Georgia, and for Boston-based real estate investment fund Roseview Partners.

Mr. DuPree is a graduate and member of the Urban Land Institute’s Center for Leadership and a member of the Young Presidents Organization (YPO). He holds a B.S. in Finance from Wake Forest University in Winston-Salem, North Carolina.

JOE GIBSON is a Founding Partner and serves as the Chief Investment Officer for NEWSTAR where he leads investment sourcing, analysis and execution across the Company’s strategies.

Previously, Mr. Gibson served as Senior Vice President of Investments for Preferred Apartment Communities where he led the acquisition of real estate assets totaling more than $640 million in value across the Southeast United States. Before Preferred Apartment Communities, Mr. Gibson served as a Vice President at Eastdil Secured, a leading real estate investment bank, where he marketed more than $4 billion in real estate investment sales across the Southeast. Prior to Eastdil Secured, Mr. Gibson worked for VRA Partners, an Atlanta-based investment bank.

Mr. Gibson holds a B.A. in Economics from Washington and Lee University in Lexington, Virginia.