Toronto – May 1, 2014 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a highly coveted residential portfolio totaling 584 units in Aurora and the Greater Toronto Area (the “Portfolio”) comprised of six well maintained mid-rise buildings, originally constructed in 1971 and 1975.
The buildings located at 7411 and 7433 Yonge Street and 20 and 30 Clark Avenue in the northern portion of the Greater Toronto Area are situated in a well-established and desirable residential district of Thornhill with access to nature trails, green space and parks. The buildings are in close proximity to a wide range of amenities including restaurants, retail stores, schools and public transportation and are only minutes to Highways 404 and 407. Features of the buildings include onsite laundry, secured entrance, indoor and outdoor parking facilities.
145 and 147 Wellington Street are located in the heart of Downtown Aurora and within walking distance to a wide range of retail amenities, GO transit and schools. The buildings are also located in close proximity to world class golf courses including Highland Gate Golf Club and Beacon Hall Gold Club. Features of the properties include an outdoor swimming pool, on-site laundry facilities, controlled access and outdoor parking.
The Portfolio offers a range of suites sizes and will be managed on-site by DMS Property Management.
“Starlight is extremely pleased to acquire this highly coveted portfolio of properties. This acquisition aligns extremely well with our current portfolio and helps to create additional operational synergies.” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of these properties further strengthens Starlight’s presence in Aurora and the Greater Toronto Area, demonstrates its access to portfolio 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