Starlight Investments Continues Its UK Expansion with Acquisition of Second Major Build-to-Rent Community in Leeds
Latest acquisition increases Starlight's UK portfolio to over 3,600 rental suites
TORONTO, Dec. 16, 2024 /PRNewswire/ -- Starlight Investments ("Starlight"), a leading global real estate investment and asset management firm, has announced the further expansion of its UK portfolio through the acquisition of a 300-suite build-to-rent ("BTR") community under development in Leeds.
The property, purchased from Leeds-based developer, Torsion Group, is in a prime location on the eastern edge of the city centre within walking distance of popular areas including Kirkgate and other primary leisure offerings and is conveniently located close to public transit.
Currently under construction, the two-tower BTR development will feature 10- and 17-storey residences with a mix of one-, two- and three-bedroom apartments and 63 underground parking spaces. Upon completion, the highly amenitized community will include a state-of-the-art gym, a cinema and two rooftop terraces. The property's design also incorporates numerous sustainability elements.
Leeds is the third largest city in the UK and is recognized as a key financial centre and major employment hub. With a diverse mix of modern and historic architecture, a vibrant arts scene and strong business and education sectors, the city is home to a large population of professionals and students.
This property represents Starlight's second acquisition in Leeds this year, thus marking another strategic milestone in the company's European residential asset management platform. With this acquisition, Starlight UK now has over 3,600 suites under management.
"We are pleased to further strengthen Starlight's presence in Leeds, one of the UK's fastest-growing cities," said Jonnie Milich, Head of UK Residential, Starlight Investments. "The acquisition of this exceptional build-to-rent community underscores our commitment to investing in the creation of high-quality rental housing in the UK. In 2024 we added over 2,400 suites to our UK portfolio, and we look forward to furthering our expansion in the coming year."
About Starlight Investments
Starlight Investments is a leading global real estate investment and asset management firm headquartered in Toronto, Ontario, Canada. A privately held owner, developer and asset manager of over 71,000 multi-residential suites and over 7 million square feet of commercial property space with CAD $30B AUM, 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.
Contacts: Jonnie Milich Head, UK Residential, +44 -7930-373-945, jmilich@starlightinvest.com; Raj Mehta, President, Global Markets, +1-647-725-0498, rmehta@starlightinvest.com; Gwen McGuire, Director, Communications, +1-416-234-8444, media@starlightinvest.com
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