Starlight Western Canada Multi-Family (No. 2) Fund Completes $130 Million Initial Public Offering

February 22, 2022

Starlight Western Canada Multi-Family (No. 2) Fund (the “Fund”) has completed its initial public offering for total gross proceeds of approximately C$130 million of trust units. The Fund was created to indirectly acquire, own and operate a portfolio primarily comprised of income-producing multi-family residential properties in Western Canada.

The Fund is currently in the process of indirectly acquiring: (i) 60 multi-family suites located at 733 Goldstream Avenue in Langford, British Columbia; (ii) 251 multi-family suites located at 6035 Linley Valley Drive and 4800 Uplands Drive in Nanaimo, British Columbia; (iii) 81 multi-family suites located at 2699 Peatt Road in Langford, British Columbia; (iv) 60 multi-family suites located at 3400 Centennial Drive in Vernon, British Columbia; and (v) 43 multi-family suites located at 1803 31A Street in Vernon, British Columbia.

In connection with the initial public offering, CIBC World Markets Inc. acted as lead agent to the Fund, with a syndicate that included Wellington-Altus Private Wealth Inc., Scotia Capital Inc., Canaccord Genuity Corp., BMO Nesbitt Burns Inc., National Bank Financial Inc., Richardson Wealth Limited., Desjardins Securities Inc., Echelon Wealth Partners Inc., iA Private Wealth Inc., Laurentian Bank Securities Inc. and Raymond James Ltd. (collectively, the “Agents”).

Wildeboer Dellelce LLP acted for the Agents in connection with the initial public offering with a team that consisted of Daniel Shapira (real estate), Rebecca Cochrane, Sarah Wahba, Jeff Arnold (corporate/securities), and Katy Pitch (tax).