Toronto — April 18, 2016 — Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a concrete luxury highrise mixed use, multi-residential property located at 15 Maple Avenue in Barrie, Ontario (the “Property”).
Built in 2013, the Property located in the heart of Downtown Barrie is comprised of 169 residential units and three commercial units in a 15 storey building with beautiful waterfront views of Kempenfelt Bay. The Property has an above ground parking garage, fitness centre, “his” and “her” saunas, billiards lounge, party room, tenant lockers, library, outdoor pool and an outdoor sitting and BBQ area. Each unit is equipped with its own laundry facility.
The Property is steps away from public transit including the GO Bus, shops, restaurants, pubs and the theatre with the Marina and Heritage Park only minutes away. The Property is surrounded by a growing downtown community and will be managed on-site by DMS Property Management Ltd.
“Starlight is pleased to add this luxury highrise to our portfolio. This acquisition offers downtown living with gorgeous views and high quality amenities and finishes,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of the Property 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 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 110 professionals. Starlight currently manages $5.3 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 Core Funds and for private investors. Starlight’s portfolio consists of approximately 32,500 multi-residential units across Canada and the United States and over 2.3 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