PEACHTREE GROUP RECENTLY launched the 114-key Residence Inn Ocean Township along the Jersey Shore in New Jersey, structured as a Delaware Statutory Trust. This marks the company’s eighth DST offering since launching the program in 2022.
The Residence Inn is in Monmouth County, one of the wealthiest counties in the U.S., known for its high median income and vibrant year-round economy, Peachtree said in a statement.
“This newly developed property represents everything we look for in a DST offering: strong market fundamentals, a leading extended-stay brand, and long-term upside driven by secular tailwinds in travel,” said Tim Witt, Peachtree’s president for 1031 exchange and DST products.
Atlanta-based Peachtree is led by Greg Friedman, managing principal and CEO; Jatin Desai, managing principal and CFO; and Mitul Patel, principal.
The hotel benefits from its proximity to beach destinations such as Asbury Park, Long Branch, and Sandy Hook, the statement said. The region’s diverse economy—anchored by healthcare, education, and technology—drives consistent lodging demand throughout the year.
Looking ahead, Netflix is investing $900 million to redevelop nearby Fort Monmouth into its primary East Coast production hub, a project expected to create 3,500 construction jobs and 1,500 permanent jobs, while also boosting hospitality demand.
“With the opening of Residence Inn Ocean Township in 2024, we’re providing investors access to a debt-free, income-generating asset in a premier coastal market,” Witt said. “It’s a strategic fit for those seeking tax deferral through a 1031 exchange while maintaining exposure to one of the most resilient sectors in commercial real estate.”
Peachtree’s DST properties offer a compelling option for 1031 exchange investors seeking to reinvest proceeds from the sale of appreciated real estate while deferring taxes and maintaining exposure to the hotel sector, the statement said. The firm’s eight DST offerings total more than $220 million in debt-free real estate transactions.
In February, Peachtree appointed Jordan Hylton as senior vice president of multifamily acquisitions for its DST platform, which recently expanded its portfolio to include multifamily assets.
