Starlight Investments announced it has completed the purchase of a Toronto portfolio comprised of 628 rental units spread across 12 properties and 19 buildings. Each building was constructed between 1925 to 1972, offering a variety of suite sizes with spacious layouts, modern kitchens and on-site laundry facilities.
Located close to public transit and major highways, the properties are all walking distance to shops, malls, parks, and several primary and secondary schools. Other nearby amenities include public libraries and community centres.
The properties will be managed by either Sterling Karamar or Greenwin Inc.
The portfolio includes: 74 Curlew Drive, 260 Gamble Avenue, 310 & 312 Lonsdale Road, 2040 Eglinton Avenue West, 5, 7 & 9 Stag Hill Drive, 327 Chisholm Avenue, 338, 340 & 342 Donlands Avenue, 580 The East Mall, 778 Broadview Avenue, 2029, 2035, 2041, 2049 & 2055 Victoria Park Avenue, 2367 Queen Street East and 2701 Eglinton Avenue West.
“We are extremely proud of the acquisition of this portfolio,” said Daniel Drimmer, Starlight’s President and Chief Executive Officer. “The Properties represent Starlight’s commitment to offering rental living in the most sought-after neighbourhoods of Toronto. The acquisition of these nineteen buildings further enhances our presence throughout the city.”
Starlight Investments is a privately held Toronto-based, full service, multifamily and commercial real estate investment and asset management company that currently manages over $11.0 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 6.2 million square feet of commercial properties.