Toronto – December 13, 2013 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a 35 unit multi-family residential building with street level retail, located at 77 Wellesley Street East in downtown Toronto, Ontario (“The Property”).
The property (the “Property”) is a four storey low-rise building located on the southwest corner of Church Street and Wellesley Street East. The Property is located in the heart of a vibrant and diverse neighbourhood and is within walking distance to popular retail stores, restaurants, local markets and the Wellesley TTC Station. The Property also provides convenient access to the University of Toronto and Ryerson University. Features of the Property include well maintained, spacious one bedroom suites with skylights and on-site laundry facilities.
The Property will be managed on site by Greenwin Property Management.
“77 Wellesley Street East is yet another addition to Starlight’s growing presence in the downtown Toronto core. The acquisition strengthens Starlight’s portfolio in a neighborhood which is undergoing a significant transformation. ” stated Daniel Drimmer, Starlight’s Chief Executive Officer.
The acquisition of this property further strengthens Starlight’s presence in Mississauga, 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 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