Boone DuPree

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, while delivering more than a 3.3x multiple to common stockholders.

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.