Starlight U.S. Multi-family (no. 5) Core Fund Announces May 2017 Distributions

TORONTO, May 15, 2017 /CNW/ - Starlight U.S. Multi-Family (No. 5) Core Fund (TSX.V: STUS.A, STUS.U) (the "Fund") today announced its May 2017 cash distribution amounts on its outstanding Class A Units, Class C Units, Class D Units, Class E Units, Class F Units, Class H Units and Class U Units (collectively, the "Units"), payable on June 15, 2017 to holders of Units of record at May 31, 2017. The distribution amounts will be as follows:

i.   

C$0.05417 per Class A Unit, representing approximately C$0.65 per Unit on an annualized basis;



ii.   

C$0.05417 per Class C Unit, representing approximately C$0.65 per Unit on an annualized basis;



iii. 

C$0.05417 per Class D Unit, representing approximately C$0.65 per Unit on an annualized basis;



iv.

US$0.05417 per Class E Unit, representing approximately US$0.65 per Unit on an annualized basis;



v. 

C$0.05417 per Class F Unit, representing approximately C$0.65 per Unit on an annualized basis;



vi.

C$0.02917 per Class H Unit, representing approximately C$0.65 per Unit on an annualized basis less a portion of the cost of the derivative instrument purchased by the Fund to provide the holders of Class H Units with some protection against any weakening of the U.S. dollar as compared to the Canadian dollar on termination and liquidation of the Fund (the "Class H Unit Liquidation Hedge"); and



vii.

US$0.05417 per Class U Unit, representing approximately US$0.65 per Unit on an annualized basis.

 

The manager of the Fund may, at its sole discretion, discontinue the Class H Unit Liquidation Hedge in the event that derivative instruments are not available on an economical basis or the manager determines that the continuation of the Class H Unit Liquidation is no longer in the best interests of holders of Class H Units.

About Starlight U.S. Multi-Family (No. 5) Core Fund

The Fund is a limited partnership formed under the Limited Partnerships Act (Ontario) for the primary purpose of indirectly acquiring, owning and operating a portfolio of diversified income producing rental properties in the U.S. multi-family real estate market.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To learn more about the Fund, visit www.starlightus.com  

SOURCE Starlight U.S. Multi-Family (No. 5) Core Fund

For further information: Evan Kirsh, President, 647-725-0417, ekirsh@starlightus.com; Martin Liddell, Chief Financial Officer, 647-729-2588, mliddell@starlightus.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890