Starlight Investments Launches Canadian Core Multi-Family Fund with CIBC Partnerships

Starlight Investments Launches Canadian Core Multi-Family Fund

Starlight Investments has officially launched its new Starlight Canadian Core Multi-Family Fund, aiming to create a robust portfolio focused on high-quality rental properties across Canada’s major urban centers. This initiative, announced on June 24, 2025, is supported by a strategic partnership with CIBC Global Asset Management, including a cornerstone investment of CAD $415 million, which facilitates the Fund’s initial acquisition target of $750 million in purpose-built rental apartments.

Fund Overview

The Starlight Canadian Core Multi-Family Fund is structured as an open-ended fund dedicated to developing a diversified portfolio of income-generating, purpose-built rental properties. The fund’s primary focus will be on newly constructed as well as extensively renovated multi-family residences in key Canadian metropolitan areas—encompassing the Greater Toronto Area, Ontario’s Golden Horseshoe, Greater Vancouver and Greater Victoria, along with other significant markets such as Calgary, Edmonton, Ottawa, Montreal, and Halifax.

Daniel Drimmer, the Founder and CEO of Starlight Investments, expressed excitement about this venture during its announcement, affirming the Fund's objective to deliver an institutional-grade portfolio that generates stable income grounded on the solid fundamentals of the real estate sector. The firm’s established expertise in real estate will be instrumental, drawing from its significant experience as Canada’s largest multi-family property owner.

Strategic Partnerships

The partnership with CIBC Global Asset Management marks a historic milestone in Starlight's evolution within the residential investment space. Eric Bélanger, the Executive Vice-President of CIBC Global Asset Management, highlighted the growing investor demand for alternative investment solutions beyond conventional publicly traded securities. Together, Starlight and CIBC are positioning the fund as an appealing option for those seeking to diversify their investment portfolios through private real estate ventures.

Investment Strategy

The strategy of the Fund is primarily to invest in newly constructed and substantially renovated rental properties that comply with the demand for affordable living spaces in urban settings. By focusing on purpose-built high-quality residential units, the Fund aims to meet the needs of the growing population in urban Canada while ensuring long-term financial returns for its investors.

CIBC Global Asset Management will play a pivotal role in managing investments for individuals and institutional clients, extending opportunities through a feeder fund designed to cater to accredited investors. This synergy is expected to amplify the Fund’s growth, leveraging CIBC’s extensive capabilities in managing a wide spectrum of investment solutions.

Starlight Investments Profile

Based in Toronto, Ontario, Starlight Investments has made a name as a leading global real estate investment and asset management firm. Owning and managing over 70,000 multi-residential suites and over 7 million square feet of commercial space, Starlight holds a significant asset management capacity of CAD $30 billion across various real estate strategies. The organization emphasizes creating positive impacts for investors and the communities it serves, showcasing its commitment to ethical investment and community development.

Conclusion

With the launch of the Starlight Canadian Core Multi-Family Fund, Starlight Investments is well-positioned to redefine opportunities within the Canadian real estate market. By partnering with CIBC, the Fund offers an attractive alternative for investors eager to dive into the multi-family rental property sector, promising both robust returns and the enhancement of residential living across Canada’s vibrant urban landscapes.