#Canada #Toronto #Starlight Investments #Housing Development #UK BTR Fund II

Starlight Investments Successfully Closes UK BTR Fund II

Starlight Investments, a prominent global player in real estate investment and asset management, has officially announced the successful closure of its UK BTR Fund II, amassing a considerable total capital commitment of £680 million. This investment is poised to support the acquisition and construction of over 6,000 rental homes across the United Kingdom, bolstering Starlight’s position as a leading operator in the UK’s build-to-rent (BTR) housing market.

The closure of Fund II underscores the significant trust that investors are placing in Starlight's strategy to develop quality residential properties designed specifically for the rental market. This fund not only engages in the acquisition of substantial BTR projects but also involves capital raised from complementary investment vehicles dedicated to enhancing Starlight’s portfolio.

With three major rental complexes currently under construction—two in Manchester and one in Basildon—the fund demonstrates Starlight's commitment to addressing the severe shortage of rental housing, particularly in key urban areas. Raj Mehta, President of Global Markets at Starlight Investments, emphasized that the successful closure of Fund II highlights the robust institutional conviction in their residential strategy and the promising opportunities present in the current market landscape.

Further enhancing the fund's credibility, it received substantial backing from the National Housing Bank of Homes England earlier this year, aligning with national efforts to increase the availability of rental properties. The diverse investor base for Fund II includes both existing limited partners and new global institutional investors from Europe, Asia-Pacific, and Canada, a testament to the growing confidence in Starlight's operational excellence and disciplined execution.

Jonnie Milich, the head of Residential in the UK for Starlight Investments, stated, “Post-closure, our focus will shift towards execution and the next phase of our residential platform growth in the UK. We have cultivated a significant pipeline of development projects and possess a seasoned local team that is well-equipped for managing ongoing construction, leasing, and operational phases.”

The broader strategy of Starlight in the UK aims to deliver thousands of new rental homes in major regional cities and critical areas within the metropolitan London market, where rental shortages are pronounced. The firm currently manages 12 BTR complexes, from development through to operational management, illustrating a comprehensive approach to fulfilling housing demand backed by solid economic fundamentals.

Starlight has been a leader in the global real estate investment landscape for more than three decades, earning a reputation for delivering strong results while adhering to responsible asset management practices. The firm is committed to expanding its global foothold by managing and investing on behalf of institutional partners across various continents.

About Starlight Investments

Starlight Investments is a premier global real estate investment and asset management firm headquartered in Toronto, Canada. As a privately held company focused on property ownership, development, and asset management, Starlight boasts a portfolio exceeding 70,000 residential units and over 7 million square feet of commercial space, managing approximately CAD 30 billion in assets. Their mission is to harmonize their expertise with visionary curiosity, aiming to create a positive impact for both investors and communities alike. For more information, visit www.starlightinvest.com or connect with them on LinkedIn.

For media inquiries, contact:

• - Raj Mehta, President of Global Markets: +1-647-725-0498, [email protected]
• - Jonnie Milich, Director of Residential in the UK: +44-7930-373-945, [email protected]
• - Gwen McGuire, Director of Communications: [email protected]