Starlight Investments Completes Acquisition of Residential Apartment Building Totalling 26 Units in Vancouver, British Columbia
Toronto – May 18, 2022 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of one low-rise residential apartment building totalling 26 units located in Vancouver, British Columbia (“the Property”).
The Property is located in the heart of Vancouver’s West End, steps away from English Bay Beach, Alexandra Park and Lord Roberts Playground, offering a range of outdoor spaces for residents to enjoy. There’s a variety of restaurants, grocery stores and retail in the vicinity and public transit is available nearby. The Property is also close to several elementary and secondary schools.
“We are excited by this new acquisition in Vancouver as it exemplifies Starlight’s approach of finding quality properties in neighborhoods with good demand fundamentals,” — Daniel Drimmer, Starlight’s President and Chief Executive Officer.
1265 Cardero Street, Vancouver – This five-storey building is comprised of one bachelor unit, 12 one-bedroom units, 12 two-bedroom units and one penthouse for a total of 26 units. The units are pet-friendly and equipped with stainless steel appliances. The building has an elevator, on-site laundry, storage lockers and underground parking. It will be professionally managed by Metcap.
This strategic acquisition demonstrates Starlight Investments’ commitment to enhancing its presence near 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 360 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 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 9.0 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-