Starlight U.S. Residential Fund

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.

• Active, continuous revenue management
• Reduce operating expenses
• Renovate suites and common areas in multi-family properties and deferred maintenance and targeted renovations in single family homes to attract rental premiums
• Identify ancillary revenue opportunities

• United States Major markets with +1M populations (Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington)
• Suburban sub-markets with strong long-term job, population and economic growth
• Strategically located within respective suburban submarkets with barriers to new development or limited supply

Multi-Family Targets:

• Garden- and wrap-style, Class ​“A”, institutional quality multi-family properties
• Resort amenities
• Built in 1990 or newer with no less than 200 suites

Single-Family Target:

• Built in 1970 or newer

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.