Ontario apartment market to receive new supply from Starlight Investments
A report concerning the closure of a forward purchase of 283 apartment units in 2 recently built residential buildings in Ontario was announces by a Toronto-based real estate investment and asset management company.
Starlight Investments, which presently controls $7 billion of multi-residential and commercial properties all over Canada and the United States, stated that it has purchased the units located at Sally Creek in 325 Lakeview Drive, Woodstock, Ontario and at Paisley Square in 1042 Paisley Road, Guelph, Ontario.
Starlight officials declared all the newly purchased residents will be managed by Greenwin Inc.
“In addition, Starlight expects to complete the acquisition of an additional 304 apartment units in three newly constructed concrete buildings adjacent to Paisley Square by way of forward purchase contract over the next eighteen months,” the company stated.
“Starlight is pleased to expand its presence in Guelph and Southwestern Ontario with the addition of two newly constructed luxury properties. Sally Creek and Paisley Square represent Starlight’s third and fourth multi-residential forward purchase contract acquisitions in recent months,” Starlight CEO Daniel Drimmer added.
“Together, the Properties exemplify Starlight’s robust pipeline of newly constructed properties acquired by way of forward purchase contract.”