Toronto – November 18, 2015 — Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of Lougheed Village, a four building multi-residential complex with retail amenities, located at 9500, 9502 Erickson Drive and 9303, 9304 Salish Court in Burnaby, British Columbia (the “Property”).
The Property is comprised of 528 units in two — eight storey concrete buildings and two — 24 storey concrete highrise buildings as well as a commercial concourse that is occupied by a variety of businesses and retailers. The Property is close proximity to the Trans-Canada Highway and Translink bus service. In addition, the Skylink rail service is within walking distance. The Property will be managed on-site by MetCap Property Management.
“Starlight is pleased to continue to acquire properties in British Columbia. This mixed use concrete acquisition aligns extremely well with our growing west coast multi-residential portfolio,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of this Property further strengthens Starlight’s presence in British Columbia, demonstrating Starlight’s access to investment opportunities and reflects Starlight’s reputation for successfully negotiating and executing transactions.
About Starlight Investments Ltd.
Starlight Investments Ltd. is a Toronto-based privately held, full service, real estate investment and asset management company that is driven by an experienced team comprised of more than 105 professionals. Starlight currently manages $4.5 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, Northview Apartment REIT, True North Commercial REIT, Starlight U.S. Multi Family Core Funds and for private investors. Starlight’s portfolio consists of approximately 32,500 multi-residential units across Canada and the United States and over 2.2 million square feet of commercial properties.
To learn more about Starlight, visit www.starlightinvest.com or contact:
President and Chief Executive Officer
+1 – 416-234‑8444
Vice President, Asset Management
+1 – 416-234‑8444