Toronto – August 28, 2013 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of five residential properties totaling 604 units in the City of Mississauga and the Greater Toronto Area.
Starlight has acquired two properties located at 2465 and 3122 Hurontario Street in the City of Mississauga, Ontario. The property located at 2465 Hurontario Street is a 13-storey multi-family building with four levels of underground parking. Located at the Queensway and Dundas Street East, the property is conveniently close to public transit, shopping centres, various parks and notable schools. Features of the property also include an in-ground pool, tennis court and outside courtyard. The Property will be managed on-site by Greenwin Property Management.
The high-rise building located at 3122 Hurontario Street is a 12-storey multi-family building encompassing spacious one, two and three-bedroom apartments with private balconies. This property is located close to various parks, notable schools and public transit including the Cookstown GO Station. Features of the building also include on-site laundry and both indoor and outdoor parking. The property will be managed on-site by Metcap Property Management.
In the Greater Toronto Area, Starlight has acquired three properties located at 12 – 24 Leith Hill Road, 4222 Bathurst Street and 189 Cedervale Avenue. The property located at 12 – 24 Leith Hill Road includes a 16-storey multi-family building with 218 suites together with a six townhome complex. The property is located steps from public transit, notable schools, community centres and Fairview Mall. Features of the property also include an outdoor pool for its residents. The property will be managed on-site by Cogir Property Management.
The property located at 4222 Bathurst Street is an eight-storey, 78 unit multi-family building located across from Earl Bales Park in the heart of uptown Toronto. The property is located minutes away from Highway 401 and shopping centres including Yorkdale Mall. Features of the property include spacious bachelor, one and two bedroom suites with newly renovated balconies and onsite laundry facilities. The property will be managed on- site by Sterling Karamar Property Management.
Located in the much desired Danforth Village, 189 Cedervale Avenue is a six-storey, 76 unit multi-family building in the east end of Toronto. The Danforth Village is filled with rich cultural diversity, unique shops and award- winning restaurants. The building is also close to the Don Valley Parkway and is a five minute walk to the Woodbine subway station (TTC). The property will be managed on-site by Greenwin Property Management.
“Our goal has always been to offer the very best rental experience in the Mississauga and Greater Toronto area, no matter how big or small.” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of these properties further strengthens Starlight’s presence in Mississauga and the Greater Toronto Area, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing portfolio transactions.
About Starlight Investments Ltd.
Starlight is a privately held, full service real estate investment and asset management company that is driven by an experienced team of professionals. Starlight currently manages multi-residential and commercial properties for joint venture partnerships with institutional investors, publicly listed companies including True North Apartment REIT and True North Commercial REIT and private investors.
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