Starlight Investments has launched Starlight Canadian Core Multifamily fund, a newly established open-end fund focused on acquiring and managing a diversified portfolio of high-quality, income-producing, purpose-built multifamily rental properties across Canada’s largest urban markets.
The fund will launch with an initial cornerstone equity investment of C$415 million ($301 million) from investment funds managed by CIBC Asset Management, which will enable the fund’s initial acquisition of $750 million of purpose-built rental apartments. Over time, the evergreen fund will scale through additional investments from institutional investors, as well as from accredited individual investors exclusively through a feeder fund to be established and managed by CIBC Asset Management.
The fund’s strategy is to invest in newly built and substantially renovated purpose-built multifamily rental properties located in Canada’s largest metropolitan areas, with a focus on the gre
