Starlight U.S. Multi-Family (No. 1) Core Plus Fund Completes $213.8 Million Initial Public Offering

February 28, 2020

Starlight U.S. Multi-Family (No. 1) Core Plus Fund has completed its initial public offering for total gross proceeds of over $213.8 million. The Fund was created to indirectly acquire, own and operate a portfolio primarily comprised of income-producing multi-family properties in the United States. Upon closing, the Fund completed the acquisition of three multi-family residential properties in Florida, Georgia and Tennessee, respectively. In connection with the initial public offering, CIBC World Markets Inc. acted as lead agent to the Fund, with a syndicate that included Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Raymond James Ltd., RBC Dominion Securities Inc., Stifel Nicolaus Canada Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Laurentian Bank Securities Inc.

Wildeboer Dellelce LLP acted for the Agents in connection with the initial public offering with a team that consisted of Ronald Schwass, Rebecca Cochrane and Carlye Bellavia (corporate/securities), Daniel Shapira (real estate) and Katy Pitch and Marija Tasevska (tax).