Toronto — October 5, 2016 - Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of two multi-residential buildings located at 67 and 70 Parkwoods Village Drive, in Toronto, Ontario (the “Properties”). The Properties are in close proximity to 77 Parkwoods Village Drive, which was previously acquired by Starlight.
67 Parkwoods Village Drive is comprised of 78 units in a seven storey building with covered and surface tenant parking, visitor parking, a laundry facility and tenant storage. 70 Parkwoods Village Drive is comprised of 66 units in a six storey building with covered and surface tenant parking and a laundry facility.
The Properties are located within close proximity to schools, libraries, public parks with walking and bike paths, a community centre, shopping plazas, the Parkway Mall and also have direct access to major highways and public transit. They will be managed on-site by Greenwin Inc.
“Starlight is pleased to continue to grow its Greater Toronto multi-residential portfolio. These strategic acquisitions create operational synergy with our previously acquired property in the neighbourhood,” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of the Properties further strengthens Starlight’s presence in Toronto, demonstrating 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 $6.4 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, Northview Apartment REIT, True North Commercial REIT, the Starlight U.S. Multi Family Core Funds and for private investors. Starlight’s portfolio consists of approximately 33,000 multi-residential units across Canada and the United States and over 2.5 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