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Comparative Analysis

Processed

Starboard Makley DST

Measured against 56 extracted offerings on the identical field set, this deal sits 49 of 57 on the blended percentile score. It reads strongest on syndicated cap rate and weakest on acquisition ltv and equity share of capital, which is where the diligence time belongs.

56 comparable offerings · as of August 2026

41Composite

Standing

49 of 57

Blended percentile across 14 extracted metrics.

Pricing

44th pct

Leverage

17th pct

Cost

74th pct

Ongoing

91st pct

Structure

37th pct

Percentile profile

Pricing

Year 1 distributionMin 0.00%Med 4.60%Max 6.75%4.28%12th
Acquisition cap rateMin 4.00%Med 5.50%Max 7.53%5.25%30th
Price per unitMin $24KMed $284KMax $3290K$321K40th
Syndicated cap rateMin 4.02%Med 5.49%Max 9.74%8.38%95th

Leverage

Acquisition LTVMin 0.00%Med 46.50%Max 77.78%84.00%0th
Offering LTVMin 0.00%Med 46.09%Max 77.78%52.64%9th
DSCRMin 1.00xMed 2.00xMax 3.38x1.70x21st
Interest rateMin 3.91%Med 5.11%Max 9.11%5.44%25th
Loan termMin 1 yrsMed 10 yrsMax 36 yrs10 yrs29th

Cost

Total upfront loadMin 1.96%Med 7.50%Max 12.05%5.33%64th
ReservesMin 0.11%Med 5.53%Max 18.84%10.65%83rd

Ongoing

Disposition feeMin 1.00%Med 2.95%Max 7.50%2.00%91st

Structure

Equity share of capitalMin 6.09%Med 100.00%Max 100.00%11.11%2nd
Hold periodMin 1 yrsMed 10 yrsMax 36 yrs10 yrs71st

Bar spans the cohort minimum (Min) to maximum (Max), labelled beneath with the cohort median (Med). Shaded band is the 25th–75th percentile, the tick is the median, and the dot is this offering.

Where the headline metrics fall in the cohort

Acquisition cap rate

30th pct

5.25%median 5.50%

Min 4.00%Med 5.50%Max 7.53%

Year 1 distribution

12th pct

4.28%median 4.60%

Min 0.00%Med 4.60%Max 6.75%

Acquisition LTV

0th pct

84.00%median 46.50%

Min 0.00%Med 46.50%Max 84.00%

DSCR

21st pct

1.70xmedian 2.00x

Min 1.00xMed 2.00xMax 3.38x

Interest rate

25th pct

5.44%median 5.11%

Min 3.91%Med 5.11%Max 9.11%

Total upfront load

64th pct

5.33%median 7.50%

Min 1.96%Med 7.50%Max 12.05%

Metric-by-metric comparison

MetricThis offeringCohort median25th–75thDifferencePercentile
Acquisition cap ratePricing5.25%5.50%5.00%6.00%−0.25%30th
Syndicated cap ratePricing8.38%5.49%4.84%5.82%+2.89%95th
Price per unitPricing$321K$284K$180K$434K+$37K40th
Year 1 distributionPricing4.28%4.60%4.40%5.00%−0.32%12th
Acquisition LTVLeverage84.00%46.50%18.89%49.80%+37.50%0th
Offering LTVLeverage52.64%46.09%2.67%49.53%+6.55%9th
DSCRLeverage1.70x2.00x1.79x2.12x−0.30x21st
Interest rateLeverage5.44%5.11%5.00%5.39%+0.33%25th
Loan termLeverage10 yrs10 yrs8.5 yrs10.5 yrs0 yrs29th
Total upfront loadCost5.33%7.50%4.89%9.50%−2.17%64th
ReservesCost10.65%5.53%1.67%8.66%+5.12%83rd
Disposition feeOngoing2.00%2.95%2.00%3.50%−0.95%91st
Equity share of capitalStructure11.11%100.00%52.93%100.00%−88.89%2nd
Hold periodStructure10 yrs10 yrs8.5 yrs10.5 yrs0 yrs71st

Closest comparables

OfferingSponsorCap rateLTVDSCRLoadHoldMatch
CS1031 Colony at Centerpointe Apartments DSTCapital Square5.28%54.30%1.89x4.89%81%
NexPoint Waterford DSTNexPoint Real Estate Advisors IV, L.P.5.28%48.60%2.01x4.80%10 yrs79%
BR Parkview Multifamily DSTBVEX5.81%49.45%1.91x4.78%10 yrs79%
FREX DB SERIES I DSTFortress Real Estate Exchange LLC47.10%5.55%11 yrs79%
Griffin Capital Tulsa BTR DSTGriffin Capital Residential Partners Institutional Property Exchange, LLC5.77%46.50%5.00%10 yrs79%
MCG Gainesville FL BTR DSTMadison Capital Group1.74x10 yrs79%
Passco Preston Ridge DSTPASSCO5.00%46.93%2.06x4.06%78%
CF Biscayne Multifamily DSTCantor Fitzgerald Investors, LLC52.30%3.90%78%

Match score is a normalised distance across the full extracted metric set — asset type, pricing, leverage, cost and structure all weighted equally.

Figures on this page are generated from automated extraction of offering documents and may contain errors or omissions. Verify every metric against the sponsor's offering materials before relying on it for an investment decision.