# Metro Apartments / Starboard Metro DST

Source: https://baker1031.com/data/full-cycle/investments/fe7b8455a6974624

Compiled: 2026-11-03. Source workbook: full_cycle_sponsor_summary_reviewed.xlsx; SHA-256: 57b6a4f1684fe8705993e9ddbe73bdadc275be6df22e56a12153298457264a8e. This date describes the compilation, not the currency of every underlying record.

## Data limitations and educational use

This data was collected from sponsor materials and manually entered into a data file for analysis. Transcription, calculation or classification errors may exist. The compilation has not been independently audited or verified for correctness, completeness or currency. Consult the current private placement memorandum (PPM), its supplements and sponsor reports for complete, up-to-date track-record information.

Displayed metrics use the higher endpoint of each reported range, including averages and medians of those values. Selecting higher return or multiple endpoints presents the more favorable source case. These figures do not establish typical or expected performance. Original ranges remain in the underlying data and source materials.

Some source data is dated, estimated or based on valuations rather than cash exits. Sponsors may use different periods, fees, return definitions and calculation methods, making direct comparisons unreliable or impossible. Available histories may be incomplete or selected, and exclusions and missing values affect each metric’s sample. Averages are not pooled investor returns or a ranking of sponsors.

For educational purposes only. This data is not investment, tax or legal advice, a recommendation, or an offer to buy or sell securities. Past performance does not guarantee or predict future results. Real estate securities are speculative and illiquid; distributions are not guaranteed and investors may lose their entire investment.

## Data coverage

<a id="data-coverage"></a>

| Measure | Value |
| --- | --- |
| Investment histories | 837 |
| Sponsors covered (25 with histories) | 39 |
| Annual-return observations | 737 |

<a id="investment-record"></a>

| Investment | Sponsor | Property type | Location | Start | End | Hold years | Annual return | Multiple | IRR | Outcome |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Metro Apartments / Starboard Metro DST](https://baker1031.com/data/full-cycle/investments/fe7b8455a6974624.md) [42](#note-42) [45](#note-45) | Starboard | Multifamily | Atlanta, GA | 2018-08-30 | 2021-12-09 | 3.28 | Unavailable | Unavailable | Unavailable | Break-even or better |

<a id="reported-figures"></a>

| Metric | Source / calculated value | Sponsor comparison |
| --- | --- | --- |
| Annual return | Unavailable | No usable value available |
| Hold period (years) | 3.28 | Included |
| Equity multiple | Unavailable | No usable value available |
| Outcome | Break-even or better | Included |

<a id="investment-facts"></a>

| Field | Value |
| --- | --- |
| Annual-return method | Unavailable |
| Reported IRR, kept separate | Unavailable |
| Source start date | 2018-08-30 |
| Source end date | 2021-12-09 |
| Offering structure | DST property program |

## Source and calculation notes

Return basis: Return unavailable. Annual method: Unavailable.

No annual total-return figure is inferred from price changes, income-only yields or IRR.

Hold method: Derived from exact source dates: calendar days / 365.25.

Outcome basis: Reported total return is at least 100%; both plausible principal-inclusive and profit-only conventions indicate nominal capital recovery. No multiple or annual rate inferred.

Source: Starboard - Starboard Bradley DST - PPM.pdf, PDF viewer pages 110.

Definition: Total return to investors source wording; principal inclusion/formula not explicitly defined, so preserved as source percentage without assuming equivalent multiple.

Original notes: Bradley PPM supersedes Makley figures: Badger155% vs145%; Metro130% vs128%; Diagonal108% vs110%; same sale prices. Source PDF text decoded and read.

Structure: DST property program. Unconfirmed: false. Estimated: false. Valuation/in-kind exit: false.

<a id="additional-source-metrics"></a>

| Additional source metric | Value | Units |
| --- | --- | --- |
| Purchase price USD | 38000000 | USD |
| Sale price USD | 54550000 | USD |
| Total return source percentage | 1.3 | decimal rate |

## Footnotes

<a id="note-42"></a>

### 42. Annual return unavailable

No supported comparable annual return is available for this record. An available hold period, multiple or qualified outcome may still enter its own sponsor comparison sample.

<a id="note-45"></a>

### 45. Outcome inferred from a return sign

The nominal break-even outcome is inferred from the sign of a reported lifetime return or IRR, assuming conventional cash flows. This is a qualified inference rather than a cash-confirmed multiple.

## Proprietary compilation and use

Baker 1031 Investments, LLC’s selection, organization, annotations and presentation form a proprietary compilation. Underlying sponsor materials and third-party content remain subject to their respective owners’ rights. No open-data or redistribution license is granted. Contact Baker 1031 for permission to reproduce the compilation.

Methods: https://baker1031.com/data/full-cycle/methodology.md

Securities offered through Aurora Securities, Inc., member FINRA/SIPC. Baker 1031 Investments, LLC is independent of Aurora Securities, Inc. Contact: hello@baker1031.com.