STARLIGHT U.S. RESIDENTIAL FUND ANNOUNCES DECEMBER 2021 DISTRIBUTIONS

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TORONTO, Dec. 15, 2021 /CNW/ - Starlight U.S. Residential Fund (TSXV: SURF.A) (TSXV: SURF.U) (the "Fund") today announced its December 2021 cash distribution amounts on its outstanding Class A Units, Class C Units, Class D Units, Class E Units, Class F Units, Class G, Class I and Class U Units (collectively, the "Units"), payable on January 17, 2022 to holders of Units of record at December 31, 2021. Class C Unit distributions presented include those entitlements for distributions related to Class B Units issued by a subsidiary of the Fund which are economically equivalent to Class C Units of the Fund. The distribution amounts cover the period from the Fund's Initial Public Offering on November 15, 2021 to December 31, 2021 and will be as follows:

• C$0.04943 per Class A Unit and Class D Unit, representing approximately C$0.39221 per Unit on an annualized basis;
  
  
• C$0.05217 per Class C Unit and Class I Unit, representing approximately C$0.41395 per Unit on an annualized basis;
  
  
• US$0.05099 per Class E Unit, representing approximately US$0.40463 per Unit on an annualized basis;
  
  
• C$0.05099 per Class F Unit, representing approximately C$0.40463 per Unit on an annualized basis; and
  
  
• US$0.04943 per Class G Unit and Class U Unit, representing approximately US$0.39221 per Unit on an annualized basis.

About Starlight U.S. Residential Fund

The Fund is a trust formed under the laws of Ontario for the primary purpose of indirectly acquiring, owning and operating a portfolio of income producing multi-family and single-family residential rental properties in the U.S. residential real estate market located primarily in Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington.

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.

SOURCE Starlight U.S. Residential Fund

To learn more about the Fund, visit www.starlightus.com or contact: Evan Kirsh, President, Starlight U.S Residential Fund, [phone], [email protected]; Martin Liddell, Chief Financial Officer, Starlight U.S. Residential Fund, [phone], [email protected]