Starlight Investments Completes $1.7 Billion Portfolio Acquisition

Starlight Investments has completed the acquisition of a 44 building concrete, multi-residential, high-rise portfolio. Comprising 6,271 rental units, the suite types within the Portfolio range from bachelor to three-bedroom units.

71 Thorncliffe Park Drive, Toronto (CNW Group/Starlight Investments)

Properties within the Portfolio are situated in Ottawa and a number of municipalities within the GTA including Toronto, Mississauga, Hamilton, and Oshawa.

“The opportunity to acquire a 44 building concrete, multi-residential, high-rise portfolio located in the Greater Toronto Area with the prospect of developing an additional 3,000 infill units is an important step in Starlight’s strategic growth. We look forward to integrating each property into our multi-residential platform,” said Daniel Drimmer, Starlight’s President and Chief Executive Officer.

According to Starlight, the Portfolio offers spacious suites, kitchens with full appliance packages, outdoor patio/balcony space, professional onsite building management, tenant and guest parking.

Each property will be managed individually by one of Starlight’s property management companies: Greenwin, Sterling Karamar, MetCap Living, Cogir Real Estate or DMS.

“We are thrilled to announce the acquisition of this Portfolio. The properties are ideally suited for integration into our existing platform. Congratulations to all of the parties involved in this landmark transaction,” said Chalmers.

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