Toronto - April 4, 2016 — Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of two multi-residential properties located at 1 Crown Hill Place and 597 St. Clair Avenue West in Toronto, Ontario (the “Properties”).
1 Crown Hill Drive is comprised of 33 units in a 4 storey building with surface and above ground parking, a laundry facility and tenant storage. The acquisition compliments Starlight’s existing Crown Hill Drive portfolio. The property is located in a quiet residential area with access to many parks and trails and will be managed on-site by MetCap Living.
597 St. Clair Avenue West is comprised of 8 units in a 3 storey brick building with local access to transit, parks, restaurants, schools and shopping. This Property will be managed on-site by Cogir Management Corporation.
“Starlight is pleased to continue its growth in the Toronto market. The acquisitions create further synergy in our growing multi-residential portfolio,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of the Properties strengthens Starlight’s presence in Toronto, demonstrates Starlight’s access to 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, full service, real estate investment and asset management company that is driven by an experienced team comprised of more than 110 professionals. Starlight currently manages $5.3 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, Northview Apartment REIT, True North Commercial REIT, Starlight U.S. Multi Family Core Funds and for private investors. Starlight’s portfolio consists of approximately 32,500 multi-residential units across Canada and the United States and over 2.3 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