Toronto – April 14, 2014 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a newly constructed, contemporary residential property located at 1505 Ottawa Street North in Kitchener, Ontario (the “Lexington Grand”).
The Lexington Grand was constructed in 2013 and is situated in a desirable area of Kitchener, Ontario nestled in a beautifully landscaped setting with access to bike trails, green space and parks. It is in close proximity to a wide range of amenities including restaurants, retail stores, local markets, community services, schools, public transportation and minutes to Highway 401.
The Lexington Grand is a nine storey mid-rise building, comprised of 149 suites, offering extraordinary common areas and spacious units with luxury finishes. Features of the Lexington Grand include one, two and three bedroom suites with modern cabinetry, stainless steel kitchen appliances, dark wood grain laminate flooring, walk-in closets, in-suite laundry, a state-of-the art fitness facility, a hobby room, storage lockers and covered parking.
The Lexington Grand will be managed on site by Greenwin Property Management.
“We are extremely pleased to acquire this new contemporary building situated in a most desirable area of Kitchener, Ontario. Lexington Grand is a modern and upscale condominium- style facility with a high quality tenant base” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of the Property further strengthens Starlight’s presence in Southern Ontario, 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 partnership 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