Peachtree Group has launched its latest hotel structured as a Delaware Statutory Trust (DST), the 114-key Residence Inn Ocean Township, located along the Jersey Shore. This marks the company’s eighth DST offering since launching the program in 2022.
“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, president, 1031 exchange/DST products, Peachtree.
The Residence Inn is located in Monmouth County, one of the wealthiest counties in the U.S., known for its high median incomes and vibrant year-round economy, according to the company. The hotel benefits from proximity to beach destinations such as Asbury Park, Long Branch and Sandy Hook. The region’s diverse economy, anchored by healthcare, education and technology, drives consistent lodging needs 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 investors seeking tax deferral through a 1031 exchange while preserving exposure to one of the most resilient sectors in commercial real estate.”
Peachtree’s DST properties present 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, according to the company. The firm’s eight DST offerings total more than $220 million in debt-free real estate transactions.
