Starlight Investments Expands UK Portfolio with the Acquisition of Recently Completed Rental Residence in Leeds, UK

TORONTO, May 23, 2024 /PRNewswire/ -- Starlight Investments ("Starlight"), a leading global real estate investment and asset management firm, has exchanged on an acquisition to purchase 84 Kirkstall Road, a 111-suite Build-to-Rent ("BTR") community located in Leeds.

Situated in a highly attractive location near the city centre and Leeds' vibrant shopping and financial district, the residence is a 15-minute walk from Leeds Railway Station and a short distance to several universities and a teaching hospital.

The nine-storey newly built residence features a range of attractive suite layouts, including one-bedroom, two-bedroom and three-bedroom suites with many featuring balconies as well as larger terraces on the top floor. The property contains high-quality amenities including a co-working space, media room and a dedicated resident lounge. The building's design also incorporates renewable energy systems and high-efficiency lighting.

As one of the largest cities in the country, Leeds is recognized as a key financial centre and is home to several major employers. It is also highly ranked as a top student city, with five universities and a large student population.

In May 2023, Starlight announced the official launch of its European residential asset management platform through the formation of a new partnership with multiple global institutional partners focused on the UK BTR market. This latest acquisition represents the continued momentum behind Starlight's growing UK presence.

"This new residence is a strategic addition to our UK portfolio and further complements our previously announced BTR acquisitions in Manchester, Liverpool and Ashford and will increase our overall portfolio in the UK to 1,038 suites with an additional 1,200 suites in our active pipeline," said Daniel Drimmer, Founder and Chief Executive Officer, Starlight Investments. "We are pleased to establish Starlight's presence in Leeds, a dynamic city that is among the fastest growing in the UK, to support the introduction of new rental housing to meet increasing demand."

About Starlight Investments

Starlight Investments is a leading global real estate investment and asset management firm. A privately held owner, developer and asset manager of over 66,000 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.

Leslie Veiner, Chief Operating Officer, Canada & UK Residential, +1-416‑234‑8444, lveiner@starlightinvest.com; Talia Schwebel, Vice President, Marketing & Communications, +1-416‑234‑8444, media@starlightinvest.com

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