Starlight Investments Acquires Strategic Concrete Multi-Residential Building in Toronto, Ontario
Toronto, ON – November 1, 2019 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a 61-unit, concrete multi-residential mid-rise building located at 3575 Bathurst Street in Toronto, Ontario (the “Property”).
“The acquisition of this strategically located building complements Starlight’s strategy of acquiring well-positioned assets in Toronto and further enhances our Bathurst Street portfolio,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property is comprised of two bachelor, 29 one-bedroom, and 30 two-bedroom units in a seven- storey building on a 0.95-acre site. The Property was originally developed in 1960. The Property features on-site laundry, storage lockers, underground and surface parking, and professional building management. Each unit offers spacious layouts, well appointed kitchens with full appliance packages, and large balconies. The Property is located in the Ledbury Park neighborhood, steps from parks, food and shopping with tenants able to drive to Lawrence Plaza, Lawrence Allen Centre and Yorkdale Shopping Centre in minutes. Tenants are also surrounded by amenities such as Armour Heights Community Centre, Winchevsky Centre, Barbara Frum Community Centre, and Lawrence Heights Community Centre. Baycrest Hospital is steps away from the Property. Tenants have easy acess to public transit and major highways.
The acquisition of the Property further strengthens Starlight’s presence in the Toronto, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions.
The Property will be managed onsite by Sterling Karamar Property Management.
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-