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3 Canadian investors partner to acquire US$1.3B of US multifamily properties

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3 Canadian investors partner to acquire US$1.3B of US multifamily properties

Toronto-based Starlight Investments Ltd. partnered with Canada's Public Sector Pension Investment Board and Alberta Investment Management Corp. to buy US$1.3 billion of class A multifamily properties in select markets across the U.S.

The partnership will target recently built garden-style multifamily communities in the suburban markets of Atlanta; Denver; Phoenix; Austin and Dallas in Texas; and Orlando and Tampa in Florida.

The venture's first acquisition was the newly constructed 465-unit, 20-building Parkhouse Apartment Homes multifamily community in Denver.