Toronto – December 13, 2018 – Starlight Investments (“Starlight”) is pleased to announce that it has completed a forward purchase contract transaction and acquired a recently constructed luxury concrete multi-residential property located at 996 Paisley Road in Guelph, Ontario (the “Property”).
The Property is comprised of 127 one-bedroom, two-bedroom and two-bedroom plus den units in a mid- rise concrete building featuring a state-of-the-art fitness facility, social room, guest room, underground and surface parking, bicycle storage, storage lockers, and outdoor amenities. Each unit offers spacious layouts, modern designs and premier finishes, stainless steel appliances, lavish bathrooms, in-suite laundry, and large balconies. The Property’s nearby amenities include West End Community Centre, Zehr’s, LCBO, Costco, restaurants and other retail shops. The Property is in close proximity to many local parks, The University of Guelph, and easy access to public transit and major highways.
“Starlight is excited to expand its presence in Guelph with the addition of Phase III of the Paisley Square complex. This property exemplifies Starlight’s pursuit of amenity rich, condo-quality offerings by way of a forward purchase contract,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property will be managed on-site by Greenwin.
The acquisition of the Property further strengthens Starlight’s presence in Southern Ontario, demonstrating 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 150 professionals. The company currently manages over $9.0 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 5.9 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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