TORONTO, June 24,
2024 /PRNewswire/ - Starlight Investments
("Starlight"), a leading global real estate investment and asset
management firm, has exchanged on an acquisition to purchase a
seven-building master-planned Build-to-Rent ("BTR") community under
development in Dartford,
Kent, from Bellway London.
The 232-suite community, being completed in three phases, will
feature seven mid-rise residential buildings including 163 parking
spaces, and a range of high-end rental suites and layouts including
studio, one-bedroom, two-bedroom and three-bedroom suites, all of
which will be fully furnished. Upon completion, residents will
enjoy a range of high-quality amenities and a 2,000 square foot
rooftop terrace. Also being acquired is a 3,500 square foot
commercial unit located within the development that will be
utilized for additional amenity space in the future. The
community's design prioritizes sustainability with a low carbon
energy strategy and other eco-friendly features. Additionally,
residents will have direct access to a large adjacent park,
offering substantial green space and family-friendly
facilities.
Located centrally near the high street and Dartford station, the
community is conveniently situated for commuters to London and surrounding employment hubs.
Dartford, the most densely
populated city in Kent, is
expected to see considerable growth over the next decade.
This transaction marks another milestone in Starlight's European
residential asset management platform, which was launched last year
with a focus on the UK BTR market. The addition of this new
community further complements the company's acquisitions to date in
Manchester, Liverpool, Ashford and Leeds and will increase Starlight's UK
portfolio to over 1,250 suites, with an additional 1,500 suites in
the development pipeline.
"We are pleased to establish Starlight's presence in
Dartford, a city with a strong
heritage and direct connections to major regional employment
centres," said Daniel Drimmer,
Founder and Chief Executive Officer, Starlight Investments. "The
addition of this community is part of our broader UK expansion
strategy and showcases our continued momentum in the UK's dynamic
and growing BTR market."
About Starlight
Investments
Starlight Investments is a leading global real estate investment
and asset management firm with CAD $28B AUM. A privately held owner, developer and
asset manager of over 68,000 multi-residential suites and over 7
million square feet of commercial property space, we offer a range
of investment vehicles across various real estate strategies.
Starlight's guiding mission is to balance our tenure with visionary
curiosity to create positive impact for investors and communities
alike. At Starlight, we invest with impact. Learn more at
www.starlightinvest.com or connect with us on LinkedIn.
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SOURCE Starlight Investments