Starlight Investments has acquired a newly constructed, 227-suite apartment building in the Greater Toronto Area (GTA) city of Pickering, as the investor continues to expand its Canadian multiresidential portfolio.

Financial details were not released.

It’s the latest transaction in a series of purchases for Starlight since the summer.

The Toronto-based investor acquired two other apartment buildings in the city from Oxford Properties in September, and a 186-unit apartment tower in Vancouver in June.

Starlight has also been busy on the development front, with three infill projects in the Greater Toronto Area being recently completed, and now at various stages of leasing.

It has an extensive list of other projects at various stages of development in the GTA and in British Columbia.

The 1475 Whites Rd. acquisition

The most recent acquisition is 1475 Whites Rd. North, which was completed earlier this year and is situated near Sheppard Avenue. The property is near restaurants, grocery stores and a variety of retail shops, while the shores of Lake Ontario and Frenchman’s Bay are a few minutes away. The residence is a five‑minute walk to Whites Road Shopping Centre and has transportation connections to major highways, GO Transit and Durham Region Transit.

“We are pleased to expand our multifamily portfolio to the rapidly growing City of Pickering,” Heather Kane, executive vice-president, asset management, Canadian residential at Starlight, said in the announcement. ​“This exceptional residence, with its modern design and attractive location, presents convenient, comfortable, high-quality homes that are suitable for both individuals and families.”

The 12-storey tower offers a range of premium open-concept, one-bedroom, two-bedroom and three-bedroom suite layouts with modern finishes including vinyl plank flooring, in-suite laundry, stainless-steel kitchen appliances and private balconies. 

The residence offers both surface and underground parking for residents, EV charging stations, bike racks, storage lockers and amenities such as a party room, games room, fitness centre, children’s playground and outdoor BBQ area. 

The property is also pet-friendly and features a pet washing station. 

It is managed onsite by Sterling Karamar.

Lease-up is continuing at the building, with rents currently listed between about $2,500 to $3,500 monthly.

Starlight’s other recent activities

In September Starlight added the Forest Lane and Wyldewood apartment buildings to its portfolio. The two nearby properties in Toronto’s North York neighbourhood comprise 618 rental suites and were constructed in 1977 and 1980.

In June Starlight acquired a 22-storey, 186-unit rental building called The Lauren at 1051 Broughton St. in Vancouver. It was developed by Westbank and Peterson in 2014.

On the development front, the company’s most recent completion is a smaller infill project in Toronto, Ledbury Towns, which comprises 24 townhomes.

Starlight completed the lease-up of the 17-storey, 138-unit Sheridan Crossing in Mississauga earlier this year. The 10-storey, 159-unit Oakhill in Oakville is almost fully occupied after a few months of leasing. Both are on properties already owned by Starlight.

Looking ahead in the GTA, Starlight is nearing completion of Shoreview, an 11-storey, 215-unit infill development in Barrie, north of Toronto. There’s already an 11-storey, 188-unit apartment on the site.

A 21-storey, 249-unit apartment at 555 The West Mall in Toronto's Etobicoke suburb is scheduled for completion in 2027.

Ground should be broken this year for a nine-storey apartment building and townhomes that will add 159 units as an infill development at an existing Starlight property in North York.

In British Columbia, Starlight is completing Bella Vista — a two-block, six-storey community with 235 rental units in Central Saanich on Vancouver Island.

In North Vancouver, The Lively will provide 40 rental units within a new four-storey building and a three-storey stacked townhome on the site of an existing 15-storey, 88-unit apartment.

Starlight also expects to complete a 511,600-square-foot development with 597 units at 1100 McCallum Rd. in Langford in 2025.

About Starlight Investments

Starlight Investments is a real estate investment and asset management firm with $28 billion in assets under management. 

A privately held owner, developer and asset manager of over 68,000 multiresidential suites and over seven million square feet of commercial property space, Starlight offers a range of investment vehicles across numerous real estate strategies and geographies in Canada and internationally.