Toronto – April 8, 2013 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a low-rise multi-family property situated in Peterborough, Ontario.
The property was originally constructed in 1985 and comprises a total of 34 suites, the majority of which are two bedroom units. Features of the property include attractive waterfront views and close proximity to the downtown area, notable schools, various parks, and recreational and retail amenities. The property also offers affordable laundry facilities, secured entry and parking.
The properties will be managed on-site by Pan Group Properties.
“The acquisition of 840 Water Street in Peterborough demonstrates Starlight’s commitment to disciplined growth. We are pleased to add this property to our growing portfolio,” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of the property further strengthens Starlight’s presence in Peterborough, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions.
About Starlight Investments Ltd.
Starlight is a privately held, full service real estate investment and asset management company that is driven by an experienced team of professionals. Starlight currently manages multi-residential and commercial properties for joint venture partnerships with institutional investors, publicly listed companies including True North Apartment REIT and True North Commercial REIT and for private investors.
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