Toronto – December 19, 2019 – Starlight Investments (“Starlight”) announced today that it has completed the acquisition of a 552-unit portfolio across four low-rise, concrete multi-residential townhome communities and four high-rise, concrete, multi-residential buildings in Southwestern Ontario (the “Portfolio”).
“The acquisition of this portfolio builds on Starlight’s presence in Southwestern Ontario and demonstrates our strategy of acquiring well-positioned assets,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
Properties in the Portfolio are situated in three of Southwestern Ontario’s growing municipalities including Kitchener, Waterloo, and Guelph. Suite types within the Portfolio range from bachelor to three-bedroom units. The townhome units offer two-storey, spacious suites, kitchens furnished with full stainless-steel appliance packages, outdoor patio space, and resident and guest parking. The high-rise units offer spacious suites, kitchens furnished with full stainless-steel appliance packages, well-appointed social rooms for residents, elevators, and resident and guest parking. Each property in the Portfolio is well- situated to essential neighborhood amenities.
Each of the properties will be managed on site by Greenwin Inc.
The acquisition of the Portfolio further strengthens Starlight’s presence in Southwestern Ontario, 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 200 professionals. The company currently manages over $13.0 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 36,000 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-
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