Toronto – May 29, 2014 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that is has completed the acquisition of two multi-family properties totaling 316 units in Barrie and Peterborough, Ontario (the “Properties”).
37 Johnson Street is located in the City of Barrie and is in close proximity to the Kempenfelt Bay shoreline. This eleven-storey high rise building offers access to a wide range of amenities including retail stores, nearby schools and public transportation and is only minutes to Highway 400 and Highway 11. Features of the property include spacious units with panoramic water views of Barrie’s north shoreline, on-site laundry facilities and indoor and outdoor parking.
37 Johnson Street will be managed on-site by DMS Property Management.
700 Parkhill Place is a townhouse complex situated in northern Peterborough in a well-established and desirable residential neighbourhood with access to nature trails, green spaces and parks. This property is near a wide range of amenities including retail stores, schools and public transportation and is only minutes to Highway 7 and Highway 115. Features of the complex include onsite laundry and parking.
700 Parkhill Place will be managed on-site by Cogir Property Management.
“Starlight is extremely pleased to acquire two quality multi-family properties in Barrie and Peterborough. The acquisitions align well with our current portfolio and help to create additional operational synergies.” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of the Properties further strengthens Starlight’s presence in Barrie and Peterborough, 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