Canadian Residential
Toronto – February 18, 2015 - Starlight Investments Ltd. (“Starlight”) is pleased to announce that is has completed the acquisition of a highly coveted, residential property totaling 260 units in Toronto (the “Property”) comprised of four, well maintained, concrete, low-rise buildings.
2175, 2177 and 2181 Avenue Road and 166 Wilson Avenue are situated in a well-established and desirable residential Toronto neighbourhood featuring a wide variety of local and exclusive retail amenities. The buildings are within walking distance to many prestigious schools and private clubs as well be being ideally located near several major public transit routes and highways including Highway 401. Features of the Property include onsite laundry, secured entrances and indoor and outdoor parking facilities.
The Property offers a range of suites sizes and will be managed on-site by Sterling Karamar Property Management.
“We are extremely pleased to acquire this highly coveted property. This acquisition aligns extremely well with our rapidly growing Toronto multi-residential portfolio and helps to create additional operational synergies.” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of the property further strengthens Starlight’s presence in the Toronto area, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions.
About Starlight Investments Ltd.
Starlight Investments Ltd. 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 105 professionals. Starlight currently manages
$4.5 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, True North Apartment REIT, True North Commercial REIT, Starlight U.S. Multi Family Core Funds and for private investors. The company’s portfolio consists of approximately 30,500 multi-residential units across Canada and the United States and over two million square feet of commercial properties.
To learn more about Starlight, visit www.starlightinvest.com or contact:
Daniel Drimmer
President and Chief Executive Officer
+1 – 416-234‑8444
ddrimmer@starlightinvest.com
David Chalmers
Vice President, Asset Management
+1 – 416-234‑8444
dchalmers@starlightinvest.com