TORONTO, Dec. 5, 2013 /CNW/ - Starlight Investments Ltd. ("Starlight")
is pleased to announce that it has completed the acquisition of an
840,000 square foot, Class A, LEED Gold Certified office and retail
complex located at 3250 and 3300 Bloor Street West in Toronto, Ontario.
"We are extremely pleased to acquire this signature office and retail
complex strategically located at a major GTA transit hub. The property
is situated in a prime location with direct access to public transit
and in close proximity to major highways. This is a modern and well
maintained facility with a high quality tenant base. As an innovative
real estate asset manager, we have developed exciting plans to further
enhance its value." stated Daniel Drimmer, Starlight's Chief Executive
The acquisition represents one of the largest single-asset real estate
transactions in Canada in 2013 and further strengthens Starlight's
commercial real estate presence, demonstrates Starlight's access to
large scale investment opportunities and reflects Starlight's
reputation for successfully negotiating and executing transactions.
The 840,000 square foot facility is a three-tower office and retail
complex adjacent to a Mississauga Transitway hub which connects users
to downtown Toronto through the complex's direct access to the
Islington TTC subway station. Amenities include underground parking, a
fitness club, banking and a variety of food and retail operators. The
property is in close proximity to both the QEW and Highway 427 and is a
15 minute drive from both Pearson International Airport and downtown
Toronto. The property will be managed on site by CBRE Limited and asset
managed by Starlight.
About Starlight Investments Ltd.
Starlight Investments Ltd. is a Toronto-based privately held real estate
investment and asset management company that is led by an experienced
team comprised of more than 90 professionals. Starlight currently
manages $3.5 billion of Canadian multi-residential and commercial
properties for a joint venture partnership with an institutional
partner, True North Apartment REIT, True North Commercial REIT,
Starlight U.S. Multi Family Core Funds and for private investors. The
company's portfolio consists of approximately 27,000 multi-residential
units across Canada and the United States and nearly 2,000,000 square
feet of commercial properties.
SOURCE: Starlight Investments Ltd.
For further information:
To learn more about Starlight, visit www.starlightinvest.com or contact:
President and Chief Executive Officer
Vice President, Asset Management