Toronto – September 8, 2015 - Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a 19 storey apartment building with street level commercial tenants at 735, 737, 739 Carnarvon Street, New Westminster, British Columbia (the “Property”).
The Property is comprised of 106 units and has covered parking stalls as well as locker storage. In addition, the Property is located in proximity to a wide range of amenities including retail stores, restaurants, cinemas, New Westminster station, New Westminster Pier Park, Douglas College and the Fraser River Discovery Centre.
The Properties will be managed on-site by Larlyn Property Management.
“Starlight is pleased to acquire properties in the Lower Mainland region of British Columbia. This acquisition aligns extremely well with our growing concrete high-rise Canadian multi- residential portfolio,” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of this Property further strengthens Starlight’s presence in British Columbia, demonstrating 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:
President and Chief Executive Officer
+1 – 416-234‑8444
Vice President, Asset Management
+1 – 416-234‑8444