Starlight investments

Starlight announces several new acquisitions throughout October

Thursday, October 31, 2019

October was a busy month for Starlight Investments. Throughout the month, the company announced the completion of several apartment acquisitions, as well as the approval to proceed with plans to develop a new purpose-built rental building located in Barrie, Ontario.

The proposed 11-storey Barrie development will be in addition to an existing11-storey building located at 37 Johnson Street. When complete, the new building will offer 215 residential suites of varying sizes and feature an array of amenities. Located in a vibrant neighbourhood and steps from Simcoe Plaza, the property is in close proximity to the shoreline allowing tenants easy access to Johnson’s Beach, Shoreview Park, Nelson Park and Parkview Community Centre.

Meanwhile, on October 28, the company announced it had successfully completed construction of Park Village Townhomes and achieved full occupancy in eight months. Park Village Townhomes is an in-fill project comprised of 96 one- and two-level stacked townhomes located in Burlington, Ontario. The development complements Starlight’s existing rental community located at 2067-2077 Prospect Street.

Recent apartment acquisitions

Starlight’s apartment acquisitions in October included: four multi-residential concrete buildings located at 500 – 560 Proudfoot Lane in London, Ontario; a 132-unit concrete multi-residential building located at 380 Gibb Street in Oshawa, Ontario; a multi-residential building located at 155 19th Street East in North Vancouver, B.C.; and a multi-residential building located at 1205 Rudlin Street in Victoria.

The busy month kicked off on October 1st with the purchase of a multi-residential building, located at 1110 Caven Street in Mississauga, Ontario.

“This acquisition further enhances Starlight’s portfolio in the city of Mississauga,” said Daniel Drimmer, Starlight’s President and Chief Executive Officer, at the time of the purchase. “Our strategy remains to strengthen our rental offering in the Greater Toronto Area with well-positioned assets in sought-after neighbourhoods.”

For all the details, visit www.starlightinvest.com

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