Toronto – June 16, 2014 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a multi-residential portfolio totaling 426 units in Lindsay and Peterborough (the “Portfolio”) comprised of four well maintained high-rise buildings, originally constructed between 1975 and 1980.
1001, 1189 and 1200 Talwood Drive are situated in a well-established and friendly neighborhood of Peterborough, rich in culture and natural attractions with access to green space and parks. The properties are in close proximity to a wide range of amenities including retail stores, schools, public transportation and are only minutes to Highway 7 and Highway 115. Property features include a social room, onsite laundry and parking facilities.
53 Adelaide Street North is in the Town of Lindsay, located in the Kawartha Lakes Region surrounded by the Scugog River, and is in close proximity to world class golf clubs. The building offers access to a wide range of retail amenities including restaurants and public transportation. Features of the property include a social room, parking and on-site laundry facilities .
The Portfolio offers a range of suites sizes and will be managed on-site by Cogir Property Management.
“Starlight is extremely pleased to acquire this highly coveted portfolio in the heart of Kawartha Lakes Region. 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 this Portfolio further strengthens Starlight’s presence in Lindsay and Peterborough , Ontario, demonstrates Starlight’s access to portfolio 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 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