Starlight Investments Acquires a Concrete, Multi-Residential Building in Orillia, Ontario
Toronto – July 24, 2019 – Starlight Investments (“Starlight”) announced that it has completed the acquisition of a concrete, mid-rise, multi-residential building located at 135 Atherley Road in Orillia, Ontario (the “Property”).
“This acquisition further enhances Starlight’s presence in Ontario and aligns with our strategy to build a significant presence in well-situated neighborhoods across the province,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property is comprised of 48 one-bedroom and two-bedroom units in a mid-rise building. The Property features on-site laundry, professional building management, and surface parking. Each unit offers spacious layouts and expansive outdoor patio space. The Property is also near multiple cultural and tourist destinations. Tenants are steps away from the waterfront at Pumpkin Bay, and are nearby Leacock Museum National Historic Site, Stephen Leacock Landmark, Orillia Waterfront Centre, and Barnfield Point Recreation Centre. The Property is located in a suburban neighborhood that is accessible to a variety of community amenities such as local parks, schools, public transit, and major highways.
The acquisition of the Property further strengthens Starlight’s presence in Ontario, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions.
About Starlight Investments Starlight Investments is a privately held Toronto-based, full service, multi-family and commercial real estate investment and asset management company driven by an experienced team of over 200 professionals. The company currently manages over $11.0 billion of direct real estate as well as real estate investment securities. Investment vehicles include institutional joint ventures, True North Commercial REIT, Starlight U.S. Multi-Family Funds and Starlight Capital Funds. Starlight Investment’s portfolio consists of approximately 36,000 multi-residential units across Canada and the U.S. and over 6.2 million square feet of commercial properties. Please visit us at www.starlightinvest.com and connect with us on LinkedIn at www.linkedin.com/company/starlight-investments-ltd-