Starlight Investments has launched the Starlight Canadian Core Multi-Family Fund, a new open-ended vehicle aimed at acquiring and managing high-quality, income-generating, purpose-built rental properties across Canada’s largest urban centres.

The Fund begins with a cornerstone equity commitment of CAD $415 million from investment funds managed by CIBC Asset Management Inc., enabling initial acquisitions totaling $750 million in purpose-built rental apartments. Over time, the Fund aims to grow through continued support from institutional investors and accredited individuals, accessed via a dedicated feeder fund managed by CIBC Asset Management.

Target markets include the Greater Toronto Area, Ontario’s Golden Horseshoe, Greater Vancouver, Greater Victoria, Calgary, Edmonton, Ottawa, Montreal, and Halifax.

“Starlight is pleased to announce our strategic relationship with CIBC Global Asset Management to deliver a best-in-class Canadian core Multi-Family investment offering,” said Daniel Drimmer, Founder and Chief Executive Officer, Starlight Investments. ​“The Fund is designed to offer investors an institutional-quality portfolio with stable income, underpinned by robust fundamentals in the sector.”

CIBC Global Asset Management EVP Eric Bélanger added, “Private real estate remains a compelling avenue for investors seeking diversification and attractive risk-adjusted returns.”

Starlight will manage the Fund, drawing on its 30-year track record as Canada’s largest multifamily property owner.