The Brampton Towers. (Courtesy Oxford Properties) Starlight Investments has expanded its portfolio in the Greater Toronto Area by buying the Brampton Towers, which consist of four purpose-built rental towers featuring 1,116 apartments. The purchase from Oxford Properties was finalized for $312.1 million. As reported to RENX by Altus Group, the deal closed on December 19. Despite being active in several areas lately, Starlight hasn’t made a public announcement regarding this transaction. The price of $279,659 per apartment makes this the largest apartment sale in the Greater Toronto Area for 2025, according to data from Altus Group. The towers are situated at 85 Charolais Blvd., comprising two 17-storey and two 18-storey buildings identified as: 75 and 95 Charolais Blvd.; and 430 and 440 Mc Murchy Ave. S. The complex was built in the early 1980s. According to information on Oxford’s website and promotional materials, the towers offer mainly one- and two-bedroom apartments and are conveniently located next to Shopper’s World shopping centre near the intersection of Steeles Avenue West and Hurontario Street. The property features an on-site convenience store, walking paths between buildings along with various amenities such as a fitness centre, a “community-sized swimming pool,” indoor bicycle storage, a BBQ terrace, and outdoor sports and leisure facilities. Both indoor and outdoor parking options are available.
A Busy Year for Starlight
This acquisition capped off an active year for Starlight based in Toronto. This past June, Starlight teamed up with CIBC Asset Management to create the Starlight Canadian Core Multi-Family Fund aimed at acquiring a portfolio worth $750 million focused on income-producing multifamily rental properties within Canada’s biggest urban markets. Targeted areas include Greater Toronto Area, Ontario’s Golden Horseshoe region, Greater Vancouver along with Greater Victoria, Calgary, Edmonton, Ottawa, Montreal, and Halifax. The initial equity investment of $415 million was announced from CIBC-managed funds; however no details about possible acquisitions were shared. Starlight is serving as fund manager. The fund plans to scale its portfolio over time. This October saw Starlight revealing plans to merge two apartment funds from Western Canada into one entity that will manage 1,413 apartments across 15 properties valued at around $639 million. This consolidation was completed in December. The involved funds were the Starlight Western Canada Multi-Family Limited Partnership (Fund 1) and the Starlight Western Canada Multi-Family No. 2 Fund).Lively Development Projects
<p. On development matters , Starlight celebrated topping off its tower project at 557 The West Mall last December. This building located in Etobicoke is part of its strategy focusing on creating new affordable rental housing. By utilizing under-used land on existing sites , they ’ re developing a new21-storey tower containing249apartments where there already stands a14-storey building with119units. Moving across Canada , in Victoria , Starlight initiated construction on Phase Iofits Harris Green Village community during summer2025. Oncecompleted , it will be recognizedas Victoria’slargestmultifamilyhousingdevelopment. Thisproject consists of three phases coveringtwo downtown blocks aimingto generate526rental suitesin Phase I. The masterplan envisions1500rentalhomesand100000square feetofcommercialspace. Meanwhile , inthe U. K., recently , Starlighthasannouncedthetoppingoffofmajorapartmenttowersinthetowns of Manchester(Trinity Heights)and nearby Salford(Spectra apartments). Basedoutoftoronto , Starlight Investmentsisaglobalrealestateinvestmentandassetmanagementfirm. Asaprivatelyheldentity, itowns, develospacesforover70kmultiresidentialunitsandmanagesaroundsevenmillion squarefeetofcommercialpropertyhaving$30billionassetsundermanagement. Starlightrunsvariousinvestmentvehiclesacrossdifferentrealestatestrategies.Source link
