Toronto – May 31, 2013 – Starlight Investments Ltd. (“Starlight”) is pleased to announce that it has completed the acquisition of a high-rise multi-family building situated in Toronto, Ontario. The property was originally constructed in 1962 and comprises a total of 70 suites, the majority of which are two bedroom units.
The property is located at 35 Greenbrae Circuit, Toronto, Ontario. The Property is within walking distance to retail merchants, including a grocery store, and is in close proximity to GO Transit and nearby schools. It features affordable laundry facilities, secured entry and surface and underground parking.
The property will be managed on-site by Greenwin Inc.
“Starlight is proud to continue to execute on its business plan of increasing its presence in the Greater Toronto Area. We look forward to actively managing and enhancing the value of this building which will benefit the residents by creating a better living space,” explained Daniel Drimmer, Chief Executive Officer.
The acquisition of the property further strengthens Starlight’s presence in the Greater Toronto Area, 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 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