Starlight Investments has added another major Greater Toronto Area property to its portfolio by acquiring the Brampton Towers, four purpose-built rental towers with 1,116 apartments, from Oxford Properties for $312.1 million.

According to information supplied to RENX from Altus Group, the sale closed on Dec. 19. Starlight, which has been very active on a number of fronts in recent months, has not made any public announcement about the transaction.

The purchase price, which equates to $279,659 per apartment, makes this the largest apartment transaction in the Greater Toronto Area during 2025, according to the Altus Group data.

The properties are located at 85 Charolais Blvd., comprising two 17-storey towers and two 18-storey towers identified as:

• 75 and 95 Charolais Blvd.; and
• 430 and 440 McMurchy Ave. S.

 The complex was constructed in the early 1980s.

Oxford’s website and promotional brochure note the towers contain a mix of mainly one- and two-bedroom apartments and are located next door to the Shopper’s World shopping centre near the Steeles Avenue West-Hurontario Street intersection.

The property includes an on-site convenience store, pathways between buildings and the various amenities, a fitness centre, “community-sized swimming pool,” indoor bicycle storage, BBQ terrace, outdoor sports and leisure facilities.

Indoor and outdoor parking are both available.

Starlight busy on many fronts

The transaction capped a very active year for Starlight, which is based in Toronto.

In June, Starlight and CIBC Asset Management announced formation of the Starlight Canadian Core Multi-Family Fund, to acquire a portfolio of $750 million of income-producing, purpose-built multifamily rental properties in Canada's largest urban markets. Target markets identified were the Greater Toronto Area, Ontario's Golden Horseshoe region, Greater Vancouver and Greater Victoria, Calgary, Edmonton, Ottawa, Montreal and Halifax.

The announcement stated the open-ended fund was to have an initial equity investment of $415 million from CIBC-managed investment funds, though it did not provide any information about potential acquisitions. Starlight is the fund manager.

The long-term plan for the fund is to further scale the portfolio.

In October, Starlight announced a plan to merge two Western Canada apartment funds into a single entity holding 1,413 apartments at 15 British Columbia properties, valued at approximately $639 million. That consolidation was completed in December.

The funds involved were the Starlight Western Canada Multi-Family Limited Partnership (Fund 1) and the Starlight Western Canada Multi-Family No. 2 Fund).

Starlight's ongoing developments

On the development front, Starlight topped off 557 The West Mall in December. The tower in the Toronto suburb of Etobicoke is part of its infill development strategy to create new, affordable rental housing.

Starlight has been leveraging under-utilized land on its existing properties. In this instance it is developing a 21-storey tower with 249 apartments on a former surface parking lot at a site where there’s already a 14-storey, 119-unit apartment building.

Across the country in Victoria, Starlight broke ground during the summer of 2025 on Phase I of its Harris Green Village community in Victoria. When complete, it is to become Victoria’s largest multifamily housing development.

It is a three-phased, mixed-use development on two downtown city blocks that will produce 526 rental suites in Phase I. The master plan includes 1,500 rental homes and 100,000 square feet of commercial space.

Meanwhile in the U.K., Starlight has over the past week announced the topping off of major apartment towers in the cities of Manchester (Trinity Heights) and neighbouring Salford (Spectra apartments). 

Starlight Investments is a global real estate investment and asset management firm headquartered in Toronto.

A privately held owner, developer and asset manager of over 70,000 multiresidential suites and over seven million square feet of commercial property space with $30 billion in assets under management, Starlight offers a range of investment vehicles across various real estate strategies.