Global real estate investment manager BGO and Starlight Investments have teamed up to acquire a newly developed multi-family residential property in Canada.
The pair have invested an unspecified sum to buy Fourteen75, a 12-storey, 227-suite property in Pickering, Ontario.
The deal marks the fifth joint venture between BGO and Starlight Investments, bringing their total assets under management to over $600m (€571.7m) since their partnership began in 2021.
Simon Holmes, managing partner and CIO at BGO, said: “BGO’s partnership with Starlight Investments has grown to impressive new heights with the latest acquisition of this newly-developed property that we believe will benefit from significant and growing demand for high-quality purpose-built rental living.
“Fourteen75 has seen robust demand from a wide variety of renters seeking a modern, highly amenitised rental community with professional management in a location that boasts tremendous proximity to major transportation and shopping destinations.”
Heather Kane, EVP in charge of asset management for Canadian residential at Starlight Investments, said: “We are pleased to expand our multi-family portfolio to the rapidly growing City of Pickering.
“This exceptional residence, with its modern design and attractive location, presents convenient, comfortable, high-quality homes that are suitable for both individuals and families.”
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