Starlight, Blackstone acquire Toronto multi-family properties

A joint venture of Starlight Investments and Blackstone Property Partners (BPP) has acquired a second portfolio of multi-family real estate assets in Canada.

No financial terms were disclosed.

The portfolio consists of eight mid-rise and high-rise buildings totalling 1,067 units in neighbourhoods in the Toronto region.

Starlight, a Toronto-based real estate investment and asset management firm, and BPP marked the formation of their joint venture last year with the acquisition of six multi-family properties in Toronto and Montréal.

PRESS RELEASE

Starlight Investments and Blackstone Announce Second Multi-Family Acquisition with a Portfolio of Eight GTA Concrete Buildings Totaling 1,067 Units

TORONTO, Feb. 26, 2019 /CNW/ – Starlight is pleased to announce our second multi-family portfolio acquisition with Blackstone. The acquisition consists of a portfolio of eight mid-rise and high-rise buildings totaling 1,067 units strategically located in desirable neighborhoods in the Greater Toronto Area.

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 150 professionals. The company currently manages over $9.0 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 and Starlight Capital Funds. Starlight Investment’s portfolio consists of approximately 36,000 multi-residential units across Canada and the U.S. and over 5.9 million square feet of commercial properties. Please visit us at www.starlightinvest.com and connect with us on LinkedIn at www.linkedin.com/company/starlight-investments-ltd-.

SOURCE Starlight Investments

For further information: David Chalmers, President, Canadian Multi-Family, +1-416-234-8444, dchalmers@starlightinvest.com, Raj Mehta, Global Head, Private Capital and Partnerships, +1-647-725-0498, rmehta@starlightinvest.com, Andrea Rubakovic, Director, Private Capital and Partnerships, +1-416-855-17649, arubakovic@starlightinvest.com or Lauren Kenney, Executive Director, Communications and Human Capital, +1-416-234-8444, lkenney@starlightinvest.com.