Starlight U.S. Multi-Family (No. 1) Value-Add Fund Completes $86 Million Initial Public OfferingJune 16, 2017
Starlight U.S. Multi-Family (No. 1) Value-Add Fund has completed its initial public offering for total gross proceeds of over $86 million. The Fund was created to indirectly acquire, own and operate a portfolio primarily comprised of value-add, income-producing multi-family properties in the United States. Upon closing, the Fund completed the acquisition of two multi-family residential properties in Round Rock, Texas and Phoenix, Arizona. In connection with the initial public offering, CIBC World Markets Inc. acted as lead agent and sole bookrunner to the Fund, with a syndicate that included Scotia Capital Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., National Bank Financial Inc., Raymond James LTD., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc. and Industrial Alliance Securities Inc. (collectively, the “Agents”).
Wildeboer Dellelce LLP acted for the Agents in connection with the initial public offering with a team that consisted of Ronald Schwass and Rebecca Cochrane (corporate/securities), Daniel Shapira (real estate) and Richard Lewin (tax).
CIBC World Markets Inc.
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