Toronto – July 31, 2017 –– Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a concrete, mid-rise apartment building located at 470 Wellington Street North in Kitchener, Ontario (the “Property”).
The Property is comprised of 36 bachelor, one and two bedroom units in a five storey building and offers surface parking and additional amenities including an on-site laundry facility and a security system. The Property is in close proximity to local retail plazas and restaurants, public parks, a recreation centre, transit and schools and is near Bingemans Water Park, Woodside National Historic Site, Grand River Hospital and downtown Kitchener.
“Starlight is pleased to continue to expand its presence in Southwestern Ontario with the addition of this strategically located multi-residential building,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The property will be managed by Greenwin Property Management.
The acquisition of the Property further strengthens Starlight’s presence in Southwestern Ontario, demonstrating Starlight’s access to investment opportunities and reflects Starlight’s reputation for successfully negotiating and executing transactions.
About Starlight Investments
Starlight is a Toronto-based privately held, full service, real estate investment and asset management company driven by an experienced team comprised of over 120 professionals. Starlight currently manages $7.5 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, Northview Apartment REIT, True North Commercial REIT, Starlight U.S. Multi-Family (No. 5) Core Fund and Starlight U.S. Multi-Family (No.1) Value-Add Fundand for private investors. Starlight’s portfolio consists of approximately 34,000 multi-residential units across Canada and the U.S. and over 4.6 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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