Starlight Investments Completes Acquisition of 67-Unit High-Rise Residential Apartment Building in Vancouver, British Columbia
Toronto – January 19, 2022 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of a 67-unit high-rise apartment building in Vancouver, British Columbia (the “Property”).
The Property is located in downtown Vancouver’s West End neighbourhood. The West End is a residential haven surrounded by water and populated with local attractions, cultural hubs and bike trails.
The Property is located minutes from Granville Island and close to public transit, elementary, secondary and post-secondary schools. It’s also a short walk to a variety of retail shopping, entertainment venues, professional services and restaurants. Residents benefit from easy access to major roadways and Vancouver’s world-renowned Sea Wall, which is one of the most scenic walking, jogging and cycling paths in the City.
“We are excited by this new acquisition in Vancouver — one of the most highly desirable housing markets in North America. This property is well-maintained and is a complementary addition to our existing portfolio in Greater Vancouver,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
1360 Hornby Street, Vancouver – This 9‑storey building is comprised of 24 bachelor units, 42 one-bedroom units and one two-bedroom unit for a total of 67 units. The units are pet friendly and equipped with stainless steel appliances, private balcony or patio and fully furnished kitchens including a dishwasher. The building has elevators, monitored security cameras and controlled entry for safety. The Property includes on-site laundry, underground parking, a courtyard, bicycle storage and storage lockers. It will be professionally managed by MetCap.
This strategic acquisition demonstrates Starlight Investments’ commitment to enhancing its presence in Canada’s largest population centres.
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 $25.0 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 Investment’s portfolio consists of approximately 73,000 multi- residential units across Canada and the U.S. and over 8.0 million square feet of commercial properties. Please visit us at http://www.starlightinvest.com and connect with us on LinkedIn at www.linkedin.com/company/starlight-investments-ltd-