Toronto – December 7, 2018 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of two properties consisting of a mid-rise multi-residential building and a townhome-style complex comprising an aggregate of 92 units. The properties are located in Cambridge, Ontario and contribute to Starlight’s strategic growth in Southern Ontario.
“The acquisition of 280 Wesley Boulevard and 4 Lena Crescent is a great opportunity for Starlight to expand its presence in Southern Ontario. The properties further compliment our existing portfolio and highlight our acquisition strategy,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
280 Wesley Boulevard, Cambridge, Ontario
280 Wesley is a three-storey apartment building situated on a 1.0 acre site. The building is comprised of one bedroom, two bedroom, and three bedroom suites, totaling 36 residential units. The property features new kitchens with stainless steel appliances, in-suite laundry, and underground and surface parking. Nearby amenities include John Dolson Community Centre, Highland Shopping Centre, FreshCo, Canadian Tire, Zehr’s, LCBO and several restaurants. The property offers access to public transit and Highway 401.
4 Lena Crescent, Cambridge, Ontario
4 Lena Crescent is a two-storey townhome complex situated on a 1.4 acre site. The complex is comprised of one bedroom and two bedroom suites totaling 56 residential units. The property features new kitchens with stainless steel appliances, in-suite laundry and surface parking. Nearby amenities include the Cambridge Centre Mall, Lion’s Can-Amera Park, Christ the King Catholic Elementary School and Elgin Street Public School. Residents have easy access to public transit and Highway 401.
Both properties will be managed on-site by Greenwin Inc.
The acquisition of these two properties further strengthens Starlight’s presence in Southern 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 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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