Starlight Investments Completes Acquisition of a Concrete Mid-Rise Multi-Residential Tower in Vancouver, British Columbia
Toronto – June 16, 2020 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of a mid-rise, concrete multi-residential tower comprising an aggregate of 35 units located at 1371 Harwood Street in Vancouver, British Columbia (the “Property”).
“The acquisition of this property builds on Starlight’s presence in Vancouver and demonstrates our strategy of acquiring well-positioned assets in desirable urban communities,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property is well-situated on a 0.2‑acre lot and is walking distance to downtown Vancouver. The building is six-storeys tall and offers a range of bachelor, one-bedroom and two-bedroom units. Units offer spacious living areas and kitchens with stainless steel appliances. The Property offers bicycle storage, storage lockers and surface parking for residents and guests. 1371 Harwood Street is located steps from some of Vancouver’s best shopping, dining and entertainment in the downtown district and Yaletown. The building is also nearby local parks as well as English Bay Beach and Park, Stanley Park and Sunset Beach Park. Tenants also have easy access to public transit, major highways and are in closed proximity to Vancouver International Airport.
The Property will be managed on site by MetCap Living.
The acquisition of the Property further strengthens Starlight’s presence in British Columbia, 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 225 professionals. The company currently manages over $14.0 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 43,000 multi-residential units across Canada and the U.S. and over 7.0 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-