More Properties Acquired – Starlight and Blackstone Dominating the Toronto Real Estate Market
Toronto appears to be the hotspot for real estate investors, and companies are wasting no time getting a piece of the action. Buyers are flocking to the location in droves as houses and apartments fly off the market at record speed. One such investor is Starlight Investors, working in conjunction with Blackstone Property Partners, they have scooped up eight apartment buildings in the Toronto area. Combined, these properties have a total of 1,067 units, and press reports have confirmed that they are in the trendiest and most popular locations in the city.
If you understand real estate like these companies, you will always win when you have a hand in this type of investment, and Starlight and Blackstone are clear winners.
“Blackstone couldn’t be happier to partner with Starlight investments at such an exciting time in the real estate industry. Not only are we acquiring properties, at the same time we are enforcing our business model of providing residents with nothing but the best,” states Blackstone’s managing director Olivia John. “Canada is passionate about multifamily fundamentals, and we are advocates of this. So we are very excited about expanding in this area.
Starlight and Blackstone went public about their partnership in June after acquiring a total of six luxury apartment buildings made up 746 units. All of which are located in Montreal and Toronto.
Their collaboration is a clear winner, together they can do more for the Canadian real estate industry and the economy in general than they can do individually. They have built an impressive portfolio, with a total of 1,813 apartment units and 14 buildings. It is clear that Starlight and Blackstone are currently dominating the Canadian real estate market, they aim to keep their position and continue expanding their joint ventures. Both companies are extremely excited about what the future holds for them as real estate investors.
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