Starlight Investments Acquires Multi-Residential Building in Mississauga, Ontario
Toronto, ON – October 1, 2019 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a multi-residential building located at 1110 Caven Street in Mississauga, Ontario (the “Property”).
“This acquisition further enhances Starlight’s portfolio in the city of Mississauga. Our strategy remains to strengthen our rental offering in the Greater Toronto Area with well-positioned assets in sought-after neighborhoods,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property is comprised of 214 one-bedroom and two-bedroom units in a 14-storey concrete building on a 2.6 ‑acre site. The Property was originally developed in the 1960s. The Property features on-site laundry, professional building management, and surface parking. Each unit offers spacious layouts, furnished kitchens with stainless steel appliances, and large balconies. The Property is located in a suburban neighborhood, steps from parks, food and shopping with tenants able to drive to Dixie Outlet Mall, Applewood Village Plaza, or Mississauga Chinese Centre in minutes. Tenants are also surrounded by retail options provided by street-lined storefronts. The Property is in the school district of several different academic offerings. It is also steps from the lakeshore, as well as Marie Curtis Park, home to Toronto Golf Club and Lakeview Golf Course. Tenants have easy access to public transit and main highways such as the Queen Elizabeth Way.
The acquisition of the Property further strengthens Starlight’s presence in the Greater Toronto Area, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions.
The Property will be managed onsite by Greenwin Inc.
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-.