Toronto – November 27, 2019 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of Hawthorne Village (the “Property”), a community of multi-residential buildings and townhomes comprising 455 units. The Property is located in Windsor, Ontario and contributes to Starlight’s strategic urban growth. Windsor is located across the Detroit River from the City of Detroit, Michigan. The city is widely known for its contribution to Canada’s automotive industry and its cultural diversity.
“The acquisition of this community further enhances Starlight’s portfolio in Southwestern Ontario and demonstrates our strategy of acquiring well-positioned assets,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property consists of 27 mid-rise apartment buildings and four mid-rise townhomes located on Sycamore Drive, Meadowbrook Lane, and Hawthorne Drive. Suite types vary from bachelor to three- bedroom suites The Property features outdoor spaces via balcony or patio, on-site laundry, controlled entry, storage lockers and surface parking. Located in the vibrant Riverside neighborhood, nearby amenities include Forest Glade Parking and Arena, Derwent Park, Eastpark Plaza, Parkway Plaza, Tecumseh Mall, Eastown Shipping Centre, Rose-Ville Gardens Community Centre and Community Centre Southfield. Tenants have access to elementary and high schools and an array of retail options and restaurants in the neighborhood and in nearby Downtown Windsor and Downtown Detroit. The Property offers access to public transit, major highways, the airport and the United States.
Each of the buildings will be managed on site by Sterling Karamar.
The acquisition of the Property further strengthens Starlight’s presence in Southwestern 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-
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