Starlight Investments Completes Landmark Acquisition of Four Concrete High-Rise Buildings Located in Vancouver City Centre

TORONTO, April 5, 2018 /CNW/ - Starlight Investments ("Starlight") is pleased to announce that it has completed the assembly from the original owner of four landmark concrete multi-residential high-rise buildings comprised of 456 units strategically located in Downtown and North Vancouver, British Columbia. The acquisition of the trophy assets compliments Starlight's existing Victoria and Vancouver portfolio which is now comprised of approximately 1700 units in 18 concrete high-rise towers and mid-rise multi-residential buildings. 

"Starlight has once again demonstrated its ability to execute its strategic plan through the recent acquisition of four highly desirable multi-residential high-rise concrete towers in Vancouver's city centre. In the Canadian market place, an urban multi-residential real estate transaction of this magnitude and involving irreplaceable Vancouver real estate is rare. The acquisitions significantly increase our multi-residential portfolio in Vancouver and allows Starlight to recognize significant synergies created by the growing scale of our West Coast portfolio," stated Daniel Drimmer, Starlight Investments President and Chief Executive Officer.

1005 Jervis Street, Vancouver, British Columbia

Located at 1005 Jervis Street in Vancouver, British Columbia, Matthew Towers is a 19-storey concrete high-rise building comprised of 135 bachelor, one and two bedroom units. Matthew Towers offers residents on-site laundry, elevator access, underground and surface parking and controlled entry to the building. The property offers residents access to a state-of-the-art fitness facility, outdoor pool, sauna and an environmentally friendly car sharing program. Located in downtown Vancouver, Matthew Towers is situated near public transit and offers access to major highways. Nearby amenities include local restaurants and nightlife, retail shops, museums and theatres. The property is in close proximity to Stanley Park and English Bay Beach and will be managed on-site by MetCap Living Management. 

1501 Haro Street, Vancouver, British Columbia

Paul Plaza is a 22 storey concrete high-rise building located at 1501 Haro Street in Vancouver, British Columbia. The property is comprised of 144 one and two bedroom units and offers residents on-site laundry, elevator access, surface and underground parking, storage lockers and a state-of-the-art fitness facility with a sauna as well as an outdoor pool. Many units offer views of the mountains and the nearby Pacific ocean. Nearby amenities include retail and grocery shopping, theatres and local restaurants with access to public transit and major highways. Located in Vancouver's West End, Paul Plaza is in close proximity to the Vancouver Harbour, Stanley Park and Canada Place. The property will be managed on-site by MetCap Living Management.

1755 Haro Street, Vancouver, British Columbia

Peter Manor is a 19 storey, 138 unit concrete high-rise located at 1755 Haro Street in Vancouver, British Columbia that offers residents elevator access, secure underground and surface parking, bicycle and locker storage and controlled and secure building entry, as well as a state-of-the-art fitness facility with a sauna and outdoor pool. Located within downtown Vancouver's West End and in walking distance to public transit, Peter Manor is in close proximity to Vancouver Harbour, Vancouver Aquarium, Stanley Park and the Naval Museum at HMCS Discovery. Nearby amenities include retail and grocery shopping, local restaurants, theatres and hotels. The property will be managed on-site by MetCap Living Management. 

150 East Keith Road, Vancouver, British Columbia

Monika Vista, a 12 storey property located at 150 East Keith Road in Vancouver, British Columbia is comprised of 39 one and two bedroom units with elevator access, secured underground parking, in-suite laundry and bicycle storage. Located in North Vancouver, Monika Towers compliments Starlight's property located at 151 East Keith Road. Nearby amenities include retail and grocery shopping, community services and public green spaces. Located close to public transit, Monika Vista offers access to major highways, local theatres and the Vancouver Harbour. The property will be managed on-site by MetCap Living Management.

The acquisition of these four properties further strengthens Starlight's presence in urban Vancouver, demonstrates its access to investment opportunities and reflects its reputation for successfully negotiating and executing transactions.

About Starlight Investments

Starlight is a Toronto-based privately held, full service, real estate investment and asset management company driven by an experienced team comprised of over 130 professionals. Starlight currently manages $8.5 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 Starlight U.S. Multi-Family (No. 1) Value-Add Fund for private investors. Starlight's portfolio consists of approximately 36,000 multi-residential units across Canada and the U.S. and over 5.3 million square feet of commercial properties. Please visit us at www.starlightinvest.com and connect with us on LinkedIn at www.linkedin.com/company/starlight-investments-ltd-.

SOURCE Starlight Investments

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]