TORONTO, Dec. 17, 2021 /CNW/ - Starlight Investments
("Starlight") announced today that it has completed its 2021
Canadian multi-family acquisition program with the purchase of a
high-quality portfolio consisting of 68 properties totalling 1,106
units located in Southwestern
Ontario.
The portfolio includes 67 apartment buildings and one townhome
complex including 69 units collectively spanning 43.57 acres. The
portfolio's properties are located within several vibrant
Southwestern Ontario communities
including Kitchener-Waterloo,
Cambridge, Stratford, Woodstock and Guelph, each of which are experiencing
population growth. The properties consist of low-rises and include
bachelor, one, two and three-bedroom units.
"Pursuant to our strategy of acquiring value-add properties and
investing in them to increase their long-term value, this robust
portfolio is a strong addition of our expanding multi-family
residential platform. This well-maintained portfolio is located
close to several of our existing properties providing extensive
operational efficiencies and management synergies. We continue to
review and assess our portfolio identifying opportunities to drive
value for both our residents and investors," stated
Daniel Drimmer, Starlight's
President and Chief Executive Officer.
This significant acquisition is a testament to Starlight's
ability to acquire quality, well-positioned assets in growing
communities that have strong fundamentals.
The Properties
Leinster Street, Woodstock – This property includes
fourteen two and three-storey brick buildings comprised of 45
one-bedroom units, 120 two-bedroom units and 45 three-bedroom units
for a total of 210 units. The units are pet friendly and equipped
with stainless steel appliances, private balcony or patio space and
fully furnished kitchens including a dishwasher. The property,
which includes on-site laundry, elevators, bicycle storage, surface
parking, monitored security cameras and controlled entry for
safety, will be managed by Signet Group.
Borden Street, Stratford – The two three-storey
buildings are comprised of 30 two-bedroom units. The units are pet
friendly and include private balcony or patio space. The property,
which includes on-site laundry, bicycle storage, storage lockers
and surface parking, will be professionally managed by Signet
Group.
Borden Street & Essex
Street, Stratford – This
property includes five four-storey brick buildings comprised of 60
one-bedroom units and 15 two-bedroom units for a total of 75
units. The units are pet friendly and include private balcony
or patio space. The property, which includes on-site laundry,
bicycle storage, storage lockers and surface parking, will be
professionally managed by Signet Group.
Home Street, Stratford –
This property includes seven three-storey brick buildings comprised
of 60 one-bedroom units, 30 two-bedroom units and 15 three-bedroom
units for a total of 105 units. The units are pet friendly and
include private balcony or patio space. The property, which
includes on-site laundry, bicycle storage, storage lockers and
surface parking, will be professionally managed by Signet
Group.
Burns Drive, Guelph –
This property includes five two-storey buildings comprised of 69
three-bedroom townhomes. All units are pet friendly. The property,
which includes on-site laundry and covered surface parking, will be
professionally managed by Signet Group.
Beck Street, Cambridge – This property includes
two three-storey buildings comprised of six one-bedroom units and
32 two-bedroom units for a total of 38 units. The units are pet
friendly and include private balcony or patio space. The property,
which includes on-site laundry, bicycle storage, storage lockers
and surface parking, will be professionally managed by Signet
Group.
Woolley Street & Elgin Street S, Cambridge – This property includes
four three-storey buildings comprised of four bachelor units and 72
two-bedroom units for a total of 76 units. The units are pet
friendly and include private balcony or patio space. The property,
which includes on-site laundry, bicycle storage, storage lockers
and surface parking, will be professionally managed by Signet
Group.
Weber Street S & Allen Street E, Waterloo – This
property includes two three-storey buildings comprised of 11
two-bedroom units and 10 two-bedroom units for a total of 21 units.
All units are pet friendly. The property, which includes on-site
laundry, bicycle storage, storage lockers and surface parking, will
be professionally managed by Signet Group.
University Avenue W, Waterloo – These two
three-storey buildings are comprised of one one-bedroom unit and 11
two-bedroom units in each building for a total of 24 units. The
units are pet friendly and include private balcony or patio space.
The property, which includes on-site laundry, bicycle storage,
storage lockers and surface parking, will be professionally managed
by Signet Group.
Milford Avenue & Barrie
Place, Waterloo – This property includes two
two-storey buildings and seven three-storey buildings comprised of
82 one-bedroom units, 30 two-bedroom units and 15 three-bedroom
units for a total of 127 units. The units are pet friendly and
include private balcony or patio space. The property, which
includes on-site laundry, bicycle storage, storage lockers and
surface parking, will be professionally managed by Signet
Group.
Amos Avenue & Erb Street W, Waterloo – This
property includes four two-storey buildings and five three-storey
buildings comprised of 74 one-bedroom units and 45 three-bedroom
units for a total of 119 units. The units are pet friendly and
include private balcony or patio space. The property, which
includes on-site laundry, bicycle storage, storage lockers and
surface parking, will be professionally managed by Signet
Group.
Adelaide Street & Belmont
Avenue W, Kitchener – This property includes two
three-storey buildings comprised of four one-bedroom units and 18
two-bedroom for a total of 22 units. All units are pet friendly.
The property, which includes on-site laundry, bicycle storage,
storage lockers and surface parking, will be professionally managed
by Signet Group.
Union Boulevard, Kitchener – This
three-storey building is comprised of five one-bedroom units and 30
two-bedroom units for a total of 35 units. All units are pet
friendly. The property, which includes on-site laundry, bicycle
storage, storage lockers and surface parking, will be
professionally managed by Signet Group.
Leacrest Court, Kitchener – This three-storey
building is comprised of two one-bedroom units and 23 two-bedroom
units for a total of 25 units. All units are pet friendly. The
property, which includes on-site laundry, bicycle storage, storage
lockers and surface parking, will be professionally managed by
Signet Group.
Fifth Avenue & Sixth Avenue, Kitchener –
This property includes four three-storey buildings comprised of 14
bachelor units, 36 one-bedroom units and 42 two-bedroom units for a
total of 92 units. The units are pet friendly and include private
balcony or patio space. The property, which includes on-site
laundry, bicycle storage, storage lockers and surface parking, will
be professionally managed by Signet Group.
Luella Street,
Kitchener – This property includes one three-storey
building and two, two-storey buildings comprised of 38 two-bedroom
units. The units are pet friendly and include private balcony or
patio space. The property, which includes on-site laundry, bicycle
storage, storage lockers and surface parking, will be
professionally managed by Signet Group.
About Starlight Investments
Starlight Investments is a privately held Toronto-based, full service, multi-family and
commercial real estate investment and asset management company
driven by an experienced team of over 300 professionals. The
company currently manages over $23.0
billion of direct real estate as well as real estate
investment securities. Investment vehicles include institutional
joint ventures, True North Commercial REIT, Starlight U.S.
Multi-Family Funds, the Northview Canadian High Yield Fund and
Starlight Capital Funds. Starlight Investment's portfolio consists
of approximately 70,000 multi-residential units across Canada and the U.S. and over 8.0 million
square feet of commercial properties. Please visit us at
http://www.starlightinvest.com and connect with us on LinkedIn at
www.linkedin.com/company/starlight-investments-ltd.
SOURCE Starlight Group Property Holdings Inc.
