Toronto – July 19, 2017 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a seven storey, brick, mid-rise apartment building located at 49 McMurchy Avenue North in Brampton, Ontario (the “Property”).
The Property is comprised of 79 bachelor, one and two bedroom units in a seven storey building and offers surface parking and amenities including an on-site laundry facility and on-site storage. The Property is in close proximity to local retail and restaurants, public parks, a recreation centre, transit and schools and is near Gage Park, the Brampton GO Station and downtown Brampton. The Property compliments 141 Main Street South, a five storey mid-rise multi-family building previously acquired by Starlight.
The property will be managed by Cogir Real Estate
“Starlight is pleased to continue to expand its presence in the Greater Toronto Area with the addition of this strategically located multi-residential building,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of the Property further strengthens Starlight’s presence in 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 that is driven by an experienced team comprised of more than 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 Fun and for private investors. Starlight’s portfolio consists of approximately 34,000 multi-residential units across Canada and the United States and over 4.6 million square feet of commercial properties.
To learn more about Starlight, visit www.starlightinvest.com or contact:
Vice President, Asset Management
+1 – 416-234‑8444
Executive Director, Communications and Human Capital
+1 – 416-234‑8444