Toronto – August 13, 2018 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a concrete, low-rise, four storey multi-residential building located at 55 Forty Second Street, Etobicoke, Ontario (the “Property”).
The Property is comprised of 26 one and two bedroom units and offers on-site laundry, elevator access, outdoor and indoor tenant parking and a security system. Located near the shore of Lake Ontario, the Property offers access to public transit, Go Transit, the Queen Elizabeth Way and Highway 427. Nearby retail amenities include shopping, grocery stores, and a pharmacy. The Property compliments Starlight’s nearby property located at 45 Forty Second Street.
“Starlight is pleased to announce the acquisition of this property as it continues to showcase its acquisition strategy for the Greater Toronto Area multi-residential apartment market,” stated Daniel Drimmer, Starlight’s President and Chief Executive Officer.
The Property will be managed on-site by Greenwin.
The acquisition of the Property further strengthens Starlight’s presence in Etobicoke, Ontario, demonstrating its access to investment opportunities and reflects its 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 150 professionals. Starlight currently manages $8.5 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 Fund and for private investors. Starlight’s portfolio consists of approximately 36,000 multi- residential units across Canada and the U.S. and over 5.3 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-
President Canadian Multi-Family
+1 – 416-234‑8444
Executive Director Communications and Human Capital
+1 – 416-234‑8444