Canadian Residential
Toronto, ON – November 1, 2019 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a 46-unit multi-residential townhome complex located at 7030 Netherbrae Road in Mississauga, Ontario (the “Property”).
“The acquisition of this asset complements Starlight’s strategy of acquiring well-positioned assets in the Greater Toronto Area, and further enhances our portfolio in sought-after cities such as Mississauga, Ontario,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property is comprised of four, two-storey buildings. The Property comprises an aggregate 22 three- bedroom, and 24 four-bedroom units on a 2.8‑acre site. The Property was originally developed in 1970. The Property features an outdoor basketball court and playground, surface and garage parking, and professional building management onsite. Each unit offers spacious layouts, in-suite laundry, well appointed kitchens with full appliance packages, and large patio spaces. The Property is located in the Westwood neighborhood, steps from parks, food and shopping with tenants able to drive to Westwood Square and Woodbine Mall in minutes. The Property is surrounded by amenities such as Malton Community Centre, and several elementary and secondary schools. The Property is nearby Humber College and CIMT College – Malton Campus. Tenants have easy acess to public transit and major highways, as well as Toronto Pearson International Airport.
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 MetCap Living.
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-
David Chalmers
President Canadian Multi-Family
+1 – 416-234‑8444
dchalmers@starlightinvest.com
Lauren Kenney
Vice President Communications and Human Capital
+1 – 416-234‑8444
lkenney@starlightinvest.com