The Allure Winner of Austin Apartment Association's Emerald 300+ Units 2015 Property of the Year Award

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

TORONTO, June 9, 2015 /CNW/ - Starlight U.S. Multi-Family (No. 3) Core Fund (the "Fund") (TSXV: SUS.A, SUS.U) announced today that The Allure, a property acquired by the Fund in connection with its initial public offering in July 2014, has been awarded the Austin Apartment Association's prestigious Emerald 300+ Units 2015 Property of the Year Award for properties built between 2000 and 2013.

The Allure, property managed by Alliance Residential Company, the ninth largest third-party, multi‑family property manager in the United States, is located northwest of downtown Austin, Texas at 701 North Vista Ridge Blvd. The property is comprised of 334 units in 22 three-story apartment buildings and townhouses on a 19.97 acre site ranging in size from one bedroom to three bedrooms and includes a central clubhouse that contains a number of modern amenities, including a lounge with flat screen televisions, a gaming area with pool table, a cyber café, a large high-end kitchen for hosting parties, a fully equipped conference room, a fitness centre (including a full complement of weight-training equipment and cardio machines), a fenced-in dog park, a secluded library and a resort-class, dual-level pool including an upper deck infinity pool with outdoor fireplace and barbeque/kitchen area, as well as a lower deck pool featuring an in-pool tanning shelf and a striking water feature. The apartment units have efficient layouts and contain modern features including light-cheery or honey pine style flooring, sleek master baths and nine-foot ceilings.

About Starlight U.S. Multi-Family (No. 3) 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 United States multi-family real estate market.

The Fund has interests in and operates a portfolio comprising 1,493 recently constructed, Class "A", stabilized, income producing, multi-family real estate units located in Dallas, Austin and Houston, Texas and Charlotte, North Carolina.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Starlight U.S. Multi-Family (No. 3) Core Fund

Evan Kirsh, President, Starlight U.S. Multi-Family (No. 3) Core Fund, 647-725-0417, [email protected]