Toronto – August 5, 2021 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of a 41-unit concrete multi-residential building near Main Street in Vancouver, British Columbia (the “Property”).
The Property is located in the vibrant Mount Pleasant neighbourhood, adjacent to the Grandview-Woodland and Kensington-Cedar Cottage neighbourhoods. It is close to major highways, retail stores, restaurants and schools, with easy access to public transit.
The Property is also close to a variety of parks, including China Creek North Park, Sahalli Park and Robson Park, which features basketball courts, soccer and ball hockey spaces, plus a playground and seasonal wading pool.
“The acquisition of the Property builds on Starlight’s strategy of acquiring well- positioned assets in sought-after communities, and further enhances the quality of our multi-residential portfolio,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
825 East 8th Avenue, Vancouver – This three-storey concrete building is comprised of six bachelor units, 32 one-bedroom units and three two-bedroom units for a total of 41 units. The units feature fully-equipped kitchens with stainless steel appliances and dishwashers, and also have private balconies or patios. The Property has laundry facilities, storage lockers and underground parking, and is professionally managed by MetCap Living.
The acquisition of this Property complements Starlight’s existing Vancouver portfolio and demonstrates Starlight’s commitment to investing in desirable urban communities.
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 300 professionals. The company currently manages over $20.0 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, the Northview Canadian High Yield Fund and Starlight Capital Funds. Starlight Investments’ portfolio consists of approximately 70,000 multi- residential units across Canada and the U.S. and over 8.0 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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