History of Identifying Opportunities and Unlocking Value
2022
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
2021
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
2020
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
2019
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
2017-2018
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
2015-2016
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
2013-2014
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
2011-2012
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
2007-2010
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”)
1995
TransGlobe Property Management is formed as a vertically integrated real estate manager focused on Canadian Multi-Family and Canadian Commercial