Starlight Investments Completes Acquisition of Four Concrete Mid-Rise, Multi-Residential Properties in Toronto, Ontario
Toronto – August 6, 2020 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of four mid-rise, concrete multi-residential properties comprising an aggregate of 44 units located at 19 & 23 Engelhart Crescent and 64 & 68 Harris Park Drive in Toronto, Ontario (the “Properties”).
“The acquisition of the properties builds on Starlight’s presence in Toronto and demonstrates our strategy of acquiring well-positioned assets in desirable urban communities,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Properties are well-situated on a 37,200 square foot lot and close to major highways and public transit. The Properties consist of four, three-story buildings that offer one and two-bedroom units. The units include furnished kitchens with appliances. Storage lockers and parking are available for residents in the buildings. 19 & 23 Engelhart Crescent and 64 & 68 Harris Park Drive are located nearby schools, restaurants, grocery and retail shopping.
The Properties will be managed on site by MetCap Living.
The acquisition of the Properties further strengthens Starlight’s presence in Toronto, 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-