Canadian Residential
Toronto – November 6, 2013 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of four multi-family residential properties totaling 117 units in the City of Scarborough, Ontario.
860 Pharmacy Avenue is a four-storey residential building offering bright and spacious suites with hardwood floors and updated bathrooms. The property is situated just north of the Golden Mile, conveniently close to public transit lines and The Don Valley Parkway, allowing residents quick access to the downtown core.
Located in the charming Golden Mile neighborhood of Scarborough, 1 Rannock Street, offers 29 well-maintained units with on-site laundry, landscaped grounds and outdoor parking. The area is characterized by having all the amenities of a big city, yet near parks and trails.
The low-rise buildings at 32 & 40 Craigton Drive are both four-story multi-family residences located in close proximity to parks and local shops, ideal for young families. Features of the buildings include spacious one and two bedroom suites with balconies, outdoor parking and on-site laundry facilities.
These properties will be managed on-site by Metcap Living Property Management.
“Starlight is pleased to acquire these distinctive multi-family properties in the GTA. These properties are a great addition to our growing Scarborough area portfolio.” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of these properties further strengthens Starlight’s presence in Greater Toronto Area, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing portfolio 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:
Daniel Drimmer
President and Chief Executive Officer
+1 – 416-234‑8444
ddrimmer@starlightinvest.com
David Chalmers
Vice President, Asset Management
+1 – 416-234‑8444
dchalmers@starlightinvest.com