Starlight Investments, a Toronto-based privately held, full-service, real estate investment and asset management company, and an affiliate of Blackstone Property Partners, a real estate investing manager, have formed a joint venture to acquire a portfolio of six multifamily buildings comprised of 746 units. A purchase price was not disclosed.
The portfolio is strategically located in the urban core of Canada’s economic hubs with five properties located in desirable Toronto neighborhoods and one in Montréal. The partnership marks Blackstone’s first investment in Canadian multifamily real estate.
The portfolio is comprised of a mix of high-, mid-, and low-rise concrete multifamily buildings. Both of the urban markets of Toronto and Montréal continue to benefit from strong employment and solid population growth.
