Toronto – April 14, 2014 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a 73 suite multi-family building located at 450 Dallas Road in Victoria, British Columbia (the “Property”).
The Property is comprised of an 11 storey high-rise building and a three storey low-rise building in James Bay, the oldest waterfront neighbourhood in Greater Victoria and within walking distance to a wide range of retail amenities and public transportation. The Property also offers convenient access to Victoria’s downtown core. Features of the Property include bachelor, one, two and three bedroom suites with panoramic water views of Victoria’s coastline, on- site laundry and indoor parking.
The Property will be managed on site by Larlyn Property Management.
“We are pleased to increase our presence in British Columbia. 450 Dallas Road is an exceptionally well-maintained property situated in a beautiful waterfront neighbourhood of Victoria, British Columbia.” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of the Property further strengthens Starlight’s presence in British Columbia, 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 real estate investment and asset management company that is driven by an experienced team comprised of more than 90 professionals. Starlight currently manages $3.5 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 private investors. The company’s portfolio consists of approximately 27,000 multi-residential units across Canada and the United States and nearly 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