# Starboard Makley DST

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## Investment description

Starboard Makley DST holds Makley Place at 210 West 5th Avenue in Columbus, Ohio. The property contains 140 apartments and three retail suites in a building completed in 2022. The offering is organized as a Delaware statutory trust with an affiliated master tenant and property-management arrangements.

## Key facts

- Fundraising Status: Open
- Sponsor Name: Starboard Realty Advisors
- Locations: Ohio
- Equity: $21,310,000
- Debt: $23,684,000
- LTV (investor offering): 52.64%
- Property Type: Multifamily and retail
- Y1 Income: Login required.
- Average Income: Login required.
- Overall Scorecard Rating: Login required.

Source-document projections, not actual distributions. Income is operating cash divided by original offering equity and excludes sale proceeds. The December 15, 2025 supplement controls Y1 and average. Average covers 2026–2034; partial 2025 and the unreconciled 2035 source projection are excluded. Offering LTV = allocated debt / (offering equity + allocated debt). Figures reflect reviewed document dates, not current operating results. Projections are not guaranteed; availability is maintained separately. Evidence confidence is reported separately.

## Sponsor overview

Starboard Realty Advisors, LLC is the sponsor. The offering materials describe an Irvine, California-based real-estate platform with multifamily, retail and development activities. Affiliated entities provide asset management and administer the trust and master-lease structure.

## Detailed analysis

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For informational and educational purposes only. Our research and opinions are not personalized investment, legal, or tax advice, an offer to sell or solicitation to buy securities, or a recommendation or endorsement of any investment. Do not rely on this research alone to make an investment decision. Review the current Private Placement Memorandum (PPM) and all applicable offering documents, and consult a registered investment adviser or other qualified investment professional and your legal and tax advisers. Private investments can be illiquid and involve significant risk, including loss of your entire investment. Past performance, projected income, and ratings do not guarantee future results. Information may be incomplete or change; confirm current offering availability directly with the sponsor.

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