Toronto – November 8, 2012 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of two multi-family properties situated in the Province of Ontario.
The properties (the “Properties”) consist of two high rise buildings located at 15 and 245 Lena Crescent in Cambridge, Ontario. The Properties were originally constructed in 2009 and comprise a total of 272 suites, the majority of which are two bedroom units. Features of the Properties include access to GRT transit, a nearby hospital, parks amenities, and shopping centres in addition to affordable laundry facilities, secured entry and parking.
The Properties will be managed on-site by Gateway Property Management Corporation.
“We are excited that we were able to add these newly constructed buildings to our portfolio. Starlight is always looking to obtain properties that will help it incur positive growth, and we believe that these two properties will be a step forward in our development.” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of the Properties further strengthens Starlight’s presence in Southern Ontario, demonstrates Starlight’s access to investment opportunities and reflects Starlight’s reputation for successfully negotiating and executing transactions.
About Starlight Investments Ltd.
Starlight is 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 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