Montreal rental properties

Starlight acquires two new Ontario rental properties

Thursday, June 1, 2017

Starlight Investments announced it has begun the process of acquiring 283 apartment units in two recently constructed, multi-residential properties located at 325 Lakeview Drive in Woodstock, Ontario (“Sally Creek”) and 1042 Paisley Road located in Guelph, Ontario (“Paisley Square”).

In addition, Starlight expects to complete the acquisition of an additional 304 apartment units in three newly constructed concrete buildings adjacent to Paisley Square by way of forward purchase contract over the next eighteen months.

“Starlight is pleased to expand its presence in Guelph and Southwestern Ontario with the addition of two newly constructed luxury properties,” stated Daniel Drimmer, Starlight’s Chief Executive Officer. Sally Creek and Paisley Square represent Starlight’s third and fourth multi-residential forward purchase contract acquisitions in recent months. Together, the Properties exemplify Starlight’s robust pipeline of newly constructed properties acquired by way of forward purchase contract.”

Paisley Square is comprised of 180 units in a high-rise, ten-storey concrete building with surface and underground parking, a state-of-the-art fitness facility, party room, theatre, guest suite and storage lockers. Each unit offers spacious layouts, modern designs and premier finishes such as stainless steel appliances, contemporary kitchen cabinetry, hardwood floors, private balconies, in-suite washers and dryers and modern lighting fixtures. Paisley Square is ideally located in close proximity to Highway 6 and Guelph Transit in an area that that boasts amenities such as the Margaret Greene and Earl Brimblecombe Parks, West End Community Centre, St. Francis of Assisi School, Taylor Evans Public School, shopping and access to the Guelph downtown core.

Sally Creek is comprised of 106 units in a mid-rise, five-storey, concrete building with covered-surface parking, a state-of-the-art fitness facility, party room, lounge, modern elevators and storage lockers. All units include in-suite washers and dryers, stainless steel appliances, modern lighting fixtures, contemporary kitchen cabinetry and private balconies. Sally Creek is situated near the Tollgate neighbourhood amongst the Villages of Sally Creek in close proximity to Woodstock Meadows Golf Centre, the Thames River, hiking trails, Tollgate Central Public School, the Cowan Park Multi-Purpose Facility, Roth Park, shopping and the Woodstock downtown core with access to Highway 59.

The Properties will be managed on-site by Greenwin Inc.

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