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Starlight Canadian Core Multi-Family Fund

Investment Highlights

Starlight Canadian Core Multi-Family Fund was launched in June 2025 as an evergreen, open-ended investment vehicle focused on acquiring and managing a diversified portfolio of high-quality, income-producing, purpose-built multi-family rental properties across Canada’s largest urban markets.

8.0%+

Targeted net return

4.0%

Target distribution yield

4

Current residences

487

Current suites

Strategy

The Fund’s strategy is to invest in newly built and substantially renovated purpose-built multi-family rental properties located in Canada’s largest metropolitan areas, with a focus on the Greater Toronto Area, Ontario’s Golden Horseshoe region, Greater Vancouver, and Greater Victoria, as well as other major Canadian markets including Calgary, Edmonton, Ottawa, Montreal, and Halifax. The Fund is designed to offer investors an institutional-quality portfolio with stable income, underpinned by robust fundamentals in the sector.

TARGET MARKETS
  • Canada’s largest and highest growth metropolitan areas
  • Greater Toronto Area, Ontario’s Golden Horseshoe region, Greater Vancouver and Greater Victoria, Calgary, Edmonton, Ottawa, Montreal and Halifax
  • Exposure to high-growth markets with compelling population, employment and economic growth rates
TARGET ASSETS
  • Recently constructed and renovated multi-family
  • Substantially leased properties with minimal deferred maintenance
  • Well located within their respective markets and submarkets
TARGET NET RETURN
  • 8.0% p.a.
TARGET DISTRIBUTION
  • 4.0% p.a. (payable quarterly)
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Fund benefits

High-Quality, Stabilized Assets – Primarily newly-built, substantially leased properties with minimal deferred maintenance

Prime Locations in Major Markets – Situated in high-growth urban centres across major metropolitan regions in Canada

Stable, Predictable Income – Income-driven assets with stable cash flows, generally higher rents and higher overall NOI profiles

Canadian Multi-Family Tailwinds – Significant housing supply-demand imbalance driving strong renter growth in Canada

Portfolio Enhancement – Demonstrated resilience and strong risk-adjusted returns relative to global asset classes and property sectors

Fund details

Fund Type – Open-ended mutual fund trust

Purchases – Quarterly subscriptions

Redemptions – Quarterly (subject to limits at the Manager’s discretion)

Valuation – Quarterly (Unit NAVs generally available with 20 days following quarter-end)

Leverage – Maximum 40% Fund LTV ratio

Inception Date – June 23, 2025

Major markets across Canada.

TARGET MARKETS
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Contact us.

Raj Mehta
President, Global Markets
globalmarkets@starlightinvest.com
+1-647-725-0498

Jiad Minkara
Senior Vice President, Global Markets
jminkara@starlightinvest.com
+1-647-245-2240

Drew Beckett
Manager, Global Markets
dbeckett@starlightinvest.com
+1-416-935-2744

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Corporate Profile

Board of Trustees 

  • Daniel Drimmer
  • Chris Bell
  • Raj Mehta

Executive Officers

  • Daniel Drimmer, President and Chief Executive Officer
  • Glen Hirsh, Chief Operating Officer
  • Martin Liddell, Chief Financial Officer

Press Releases

2025

06-24-2025 – Starlight Investments Launches Open-Ended Canadian Core Multi-Family Fund and Strategic Relationship with CIBC Global Asset Management, enabling an Initial Acquisition of $750M of Purpose-Built Rental Apartments

Sustainable Finance Disclosure Regulation (SFDR) Documents

SFDR Article 8 Disclosure - Starlight Canadian Core Multi-Family Fund