History

Capitalizing on the resiliency of the Canadian Multi-Family sector and the successful execution of the two predecessor Funds, Starlight Canadian Residential Growth Fund III is launched
Launched Starlight Western Canada Multi-Family (No. 2) Fund, a publicly offered three-year trust, raising $130M in equity to acquire multi-family assets in British Columbia seeded with a $190M portfolio

Starlight grows to $25B assets under management
Launched Starlight U.S. Residential Fund, a publicly listed closed-end limited partnership, raising U.S.$250M in equity to acquire multi-family and single-family assets. The Residential Fund was seeded with a portfolio of U.S.$350M
Starlight U.S. Multi-Family (No. 1) Core Plus Fund is sold to Sherrin U.S. Multi-Family (No. 1) Holding LP for approximately U.S.$600M delivering a return of approximately 30% to investors
Starlight U.S. formed the U.S.$2.0B Sherrin Partnership with two global institutional investors to target Multi-Family real estate in the Sunbelt and Mountain markets of the United States. The Partnership acquired two funds, comprising of U.S.$1.3B in real estate, and also committed to at least another U.S.$700M in new acquisitions
Building on its Core Plus strategy, Starlight U.S. Multi-Family (No. 2) Core Plus Fund is launched and listed on the TSX Venture Exchange

Starlight and the Clearwater Partnership acquire Starlight U.S. Multi-Family (No.1) Value-Add Fund for U.S.$240M, generating a return for investors of approximately 21%
Continuing its U.S. expansion and strategy diversification, Starlight U.S. Multi-Family (No. 1) Core Plus Fund is launched and listed on the TSX Venture Exchange
Capitalizing on the Canadian Multi-Family fundamentals and the execution of Fund I, Starlight Canadian Residential Growth Fund II is formed to acquire $1.5B of Canadian Multi-Family real estate
Starlight, Kingsett Capital and AIMCo privatize the Northview Apartment REIT for approximately $4.9 Billion. As a result of the privatization:
- ~15,000+ units are retained by Starlight; and
- The Northview Canadian High Yield Residential Fund is formed and listed on the TSX with Starlight as the asset manager

Starlight U.S. Multi-Family (No. 5) Core Fund is sold to Tricon Capital Group for U.S.$1.4B delivering a return of approximately 30% to investors
The first co-mingled fund, Starlight Canadian Residential Growth Fund I, is launched. The Fund targets the 8-10 major metropolitan markets in Canada and acquires approximately $1.2B of Multi-Family real estate
Starlight acquires a $1.73B portfolio in the Greater Toronto Area comprising of 6,271 units from Continuum Residential REIT

An Institutional Partnership is formed with PSP and AIMCo for the acquisition of U.S.$1.3B of Southern U.S., class “A” Core Multi-Family real estate
A new Partnership is formed with Blackstone for the acquisition of several Core-Plus Canadian Multi-Family portfolios
A new Institutional Partnership is formed with a Canadian pension fund to acquire Canadian Commercial assets
Expanding on its U.S. Strategy, Starlight U.S. Multi-Family (No.1) Value-Add Fund is launched and listed on the TSX Venture Exchange
A new business line, Starlight Capital, is formed for the purpose of investing in listed global real estate and infrastructure securities. This platform is predominantly geared towards retail investors

Northern Property REIT acquires True North Apartment REIT and renames the merged vehicle to Northview Apartment REIT which is listed on the TSX. Starlight retains a significant equity interest in Northview and remains the asset manager
Starlight creates a Joint Venture with a Canadian pension fund to acquire Core Multi-Family assets in Canada and the U.S.
To provide investors with diversification and scale, Starlight merges the four preceding U.S. Multi-Family Core Funds and in conjunction raises a fifth Fund. The merged entity is renamed to Starlight U.S. Multi-Family (No.5) Core Fund and is listed on the TSX Venture Exchange

Starlight U.S. Multi-Family business line is formed, with a focus on the high growth Sunbelt and Mountain markets
Starlight U.S. Multi-Family launches its first Closed-End Fund focused on a Core strategy and is listed on the TSX Venture Exchange
Building on the success, Starlight U.S. Multi-Family launches three more publicly listed Funds with a continuation of the Core strategy

In 2011, Starlight Investments is established as an institutional real estate investment and asset management company
TransGlobe Apartment REIT is privatized delivering a total return of over 60% to investors. As a result of the privatization:
- Starlight retained over 10,000 units;
- The True North Apartment REIT and True North Commercial REIT are formed and listed on TSX with Starlight as the asset manager; and
- The TransGlobe property management platform is disposed of as it is deemed to be non-core

The first Institutional Partnership is established with PSP Investment Board (“PSP”) for Value-Add Canadian Multi-Family and Commercial real estate
TransGlobe grows to over 30,000 Multi-Family units and 1M square feet of Commercial space
As a result of its growth, in 2010 TransGlobe Apartment REIT completes an initial public offering and is listed on the Toronto Stock Exchange (“TSX”)

TransGlobe Property Management is formed as a vertically integrated real estate manager focused on Canadian Multi-Family and Canadian Commercial

Our History