Toronto – November 15, 2017 – Starlight Investments (“Starlight”) is pleased to announce that it has completed the acquisition of a concrete, high-rise multi-residential building located at 86 Cedar Street South in Kitchener, Ontario (the “Property”).
The Property is comprised 79 bachelor, one, two and three bedroom units. This 14 storey building offers surface and underground parking as well as additional amenities including on-site laundry. The Property is in close proximity to local retail shops, restaurants, parks and conservation areas and has convenient access to public transit and major highways. It is also within walking distance of local schools and is located near the Kitchener Memorial Auditorium and St. Mary’s General Hospital.
“Starlight is pleased to continue to expand its presence in the Kitchener – Waterloo Area with the addition of this strategically located high-rise concrete multi-residential building. The acquisition dovetails well with our current portfolio and Ontario acquisition strategy. ” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The property will be managed by Greenwin Inc.
The acquisition of the Property further strengthens Starlight’s presence in the Southern 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 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 Fund and 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-.
President Canadian Multi-Family
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Executive Director Communications and Human Capital
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