Toronto – February 28, 2013 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a mid-rise multi-family building situated in Brantford, Ontario. The property was originally constructed in 1978 and comprises a total of 86 suites, the majority of which are two bedrooms units.
Features of the property include proximity to public transit, Highway 403, schools, various parks, a golf course and other recreational facilities and retail amenities. Units are furnished with hardwood floors and balconies, and have access to affordable laundry facilities, secured entry and parking.
The properties will be managed on-site by Greenwin Property Management.
“Starlight continues to grow its portfolio in strong rental markets outside of Toronto. This acquisition is another example of Starlight executing on its asset management strategy,” explained Daniel Drimmer, Chief Executive Officer.
The acquisition was completed concurrently with the acquisition of four multi-family properties by True North Apartment REIT, an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario and listed under the trading symbol TSXV: TN.UN.
The acquisition of the property 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 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