Starlight U.S. Residential Fund was established in September 2021 to indirectly acquire, own and operate a portfolio of multi-family properties and single-family rental homes that demonstrate value based on pricing and local supply and demand trends to achieve the Fund’s target metrics. The properties primarily in Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington.
Assets under management
The Fund’s strategy is focused on achieving significant increases in rental rates as a result of undertaking high return, 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 Fund’s 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: NOVEMBER 15, 2021
BOARD OF DIRECTORS AND AUDIT COMMITTEE: