Starlight Investments Completes Forward Purchase of Newly Constructed 321 Unit Purpose Built Luxury Concrete Multi-Residential High-Rise Property in the Greater Toronto and Hamilton Area
Apr 18, 2017, 15:48 ET
TORONTO, April 18, 2017 /CNW/ - Starlight Investments ("Starlight") is pleased to announce it has completed the forward purchase of a newly constructed, purpose built, luxury, concrete, high-rise, multi-residential property located in downtown Hamilton at 140 Main Street West ("Regency Suites"). Regency Suites complements Starlight's previous forward purchase of 115 units located at 150 Main Street West, a ten-storey concrete multi-residential building which was completed in 2016 and is adjacent to the property.
Regency Suites is a 29-storey building comprised of 321 units with a multi-level indoor parking garage and is the newest luxury multi-residential building situated in the downtown core. All units include in-suite laundry, luxury finishes and state-of-the-art HVAC. Upper floors include two-storey units with exceptional views of Hamilton Harbour and the Niagara Escarpment. Amenities include a well-equipped fitness facility with yoga studio, rooftop patio with pavilion and water feature, 4K cinema, games room and social room. Regency Suites is in close proximity to Highway 403 and within walking distance to amenities that include restaurants, schools, universities, retail shops, the Art Gallery of Hamilton, parks and public transit.
The Property will be managed on-site by DMS Property Management. Further details regarding Regency Suites are available at www.regencyonmain.com.
"Starlight is pleased to continue to grow its high-rise presence in the Greater Toronto and Hamilton Area with the addition of this luxury multi-residential building situated in the heart of downtown Hamilton. The property represents Starlight's second newly constructed multi-residential acquisition in the Greater Toronto and Hamilton Area in the last six months and exemplifies the success of Starlight's Canadian multi-residential forward purchase contract program," stated Daniel Drimmer, Starlight's Chief Executive Officer.
The acquisition of Regency Suites further strengthens Starlight's presence in the Greater Toronto and Hamilton Area, demonstrating Starlight's access to newly constructed investment opportunities and reflects Starlight's reputation for successfully negotiating and executing forward purchase transactions.
About Starlight Investments
Starlight Investments is a Toronto-based privately held, full service, real estate investment and Asset Management Company that is driven by an experienced team comprised of more than 110 professionals. Starlight currently manages $7 billion of multi-residential and commercial properties for joint venture partnerships with institutional investors, Northview Apartment REIT, True North Commercial REIT, Starlight U.S. Multi-Family (No. 5) Core Fund and for private investors. Starlight's portfolio consists of approximately 34,000 multi-residential units across Canada and the United States and over 4 million square feet of commercial properties.
SOURCE Starlight Investments
For further information: To learn more about Starlight, visit www.starlightinvest.com or contact: David Chalmers, Vice President, Asset Management, 416-234-8444, [email protected]; Lauren Kenney, Executive Director, Human Capital & Communications, 416-234-8444, [email protected]
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