Starlight U.S. Multi-Family (No. 2) Core Plus Fund was established in February 2021 to indirectly acquire, own and operate a portfolio primarily comprised of light value-add income-producing Class “A”, institutional quality multi-family residences constructed in 1990 or newer, located in Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington.
Assets under management
Residences
Multi-Family Suites
Cities
The Fund’s value-add strategy is focused on achieving increases in rental rates through high return, light value-add capital expenditures to rental suites, clubhouses and amenities in targeted geographic locations experiencing compelling population growth and employment growth aligning with changing lifestyle preferences. The light value-add strategy also includes active asset management utilizing reputable best-in-class U.S.-based property managers to implement net operating income growth by maximizing rental rates and ancillary revenue opportunities with rigorous operational controls to manage and reduce costs.
The primary objective of the Fund is to enhance the value of its assets through active management prior to disposition. The Fund targets a minimum 11% pre-tax, investor internal rate of return upon disposition of the properties. Canadian dollar distributions are hedged. The Fund has a 3‑year investment horizon, with two one-year extensions available.
LISTING DATE: MARCH 31, 2021
BOARD OF DIRECTORS AND AUDIT COMMITTEE:
EXECUTIVE OFFICERS:
UNIT CLASSES
The Fund’s limited partnership tax factors (T5013 and RL15) relating to each fiscal year are available on the CDS Innovations Inc. website.
For more information or assistance, contact Starlight U.S. Multi-Family at info@starlightus.com.