Starlight U.S. Multi-Family Core Fund Announces the Exercise of a One-year Term Extension

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

TORONTO, March 2, 2016 /CNW/ - Starlight U.S. Multi-Family Core Fund (TSX.V: UMF.A, UMF.U) (the "Fund") today announced that the term of the Fund has been extended by up to one year in accordance with provisions of the Fund's fourth amended and restated limited partnership agreement dated as of August 20, 2014 (the "Limited Partnership Agreement").

"The extension of the Fund is an important step in order to consider each of the alternatives for the Fund and its portfolio in order to maximize the return for unitholders," stated Evan Kirsh, President of the Fund.

The term of the Fund will now expire on April 18, 2017 unless otherwise extended in accordance with the Limited Partnership Agreement.

About Starlight U.S. Multi-Family 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.

SOURCE Starlight U.S. Multi-Family Core Fund

To learn more about Starlight, visit www.starlightinvest.com or contact: Evan Kirsh, President, Starlight U.S. Multi-Family Core Fund, 647-725-0417, [email protected]