Toronto – October 17, 2013 — Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed its first acquisition in Edmonton, Alberta. Grandin Towers (the “Property”) is a multi-family complex located at 9999 111 Street NW and is comprised of 125 suites.
The Property is a 12 storey high-rise residential building located in close proximity to Edmonton’s revitalized downtown core and is steps away from the University of Alberta and Grant MacEwan University. Features of the Property include spacious one and two-bedroom suites, on-site laundry and parking stalls with an electrical power source.
The Property will be managed on site by Larlyn Property Management.
“We are pleased to increase our presence in Alberta. Grandin Towers is an exceptionally well-maintained property situated in one of Edmonton’s historical neigbourhoods.” stated Daniel Drimmer, Chief Executive Officer.
The acquisition of this Property further strengthens Starlight’s presence in Alberta, 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