NewStar Launches Residential Land Development Fund Series and Announces First Project in Charlotte, North Carolina
ATLANTA, Dec. 15, 2023 /PRNewswire/ -- NewStar Asset Management ("NewStar" or the "Company") announces the launch of NewStar Equity Lot Finance, a subsidiary business focused on investments in residential land development in partnership with select national homebuilders.
- ATLANTA, Dec. 15, 2023 /PRNewswire/ -- NewStar Asset Management ("NewStar" or the "Company") announces the launch of NewStar Equity Lot Finance, a subsidiary business focused on investments in residential land development in partnership with select national homebuilders.
- Through this business, NewStar has acquired 39 acres in Charlotte, North Carolina (the "Property") in partnership with Red Cedar Development LLC ("Red Cedar"), planned for development into a 126-townhome community known as Preservation Point.
- Prior to acquiring the Property, NewStar and Red Cedar entered into a purchase agreement with a national homebuilder contracting for sale of the finished townhome lots.
- For more information on the Project, NewStar Equity Lot Finance, or NewStar, please contact [email protected] .