Canadian Residential
Toronto – July 27, 2021 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of a 64-unit concrete multi-residential apartment building on Bathurst Street in Toronto, Ontario (the “Property”).
The Property is situated in a quiet suburban area surrounded by two notable neighbourhoods, Willowdale and Bathurst Manor, and is steps away from public transit, retail stores, professional services providers, restaurants and schools. Bathurst Street is also the main arterial roadway serving this neighbourhood. It provides motorists with a direct route downtown, as well as access to Highway 401.
Surrounding the Property are a variety of public parks and recreation centres, including the North York Centennial Centre, which features a popular ice arena, the Irving W. Chapley Community Centre, which has an outdoor pool, and Wilmington Park, with tennis courts and a baseball diamond. There are numerous parks in the area, including
G. Ross Lord Park, which is an expansive green space with ample facilities and four kilometres of trails for residents to enjoy.
“This Bathurst Street acquisition delivers on our objective to generate accretive growth that will add value to our investors now, and even more so in the future,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property
4750 Bathurst Street, Toronto – This 3‑storey concrete building is comprised of 26 bachelor units and 38 one-bedroom units, for a total of 64 units. The units feature fully- equipped kitchens, including stainless steel appliances and dishwashers, and also have private balconies or patios. The Property has on-site laundry, storage lockers, surface and underground parking, monitored security cameras and controlled entry for safety, and is professionally managed on-site by Sterling Karamar.
The acquisition of this Property demonstrates Starlight’s commitment to investing in strong multi-family residential assets that enhance our geographic diversification and the quality of our portfolio.
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-
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