- What BGO and Starlight Investments jointly purchased an apartment building in Pickering
- Why It’s the latest in a series of joint ventures for the firms
- What next The duo now has over $600m in assets under management
BGO and Starlight Investments surpassed $600m in jointly owned assets under management since the formation of their partnership in 2021, Green Street News can reveal.
The milestone was passed with the $127m acquisition of a rental apartment building in Pickering, Ont. Green Street News previously reported on the sale of the Pickering building — a new 12-storey, 227-unit complex dubbed Fourteen75 — however, BGO was not named as a partner at the time.
The Pickering purchase is the fifth joint-venture transaction for BGO and Starlight since their partnership launched three years ago.
“BGO’s partnership with Starlight Investments has grown to impressive new heights with the latest acquisition of this newly developed property that we believe will benefit from significant and growing demand for high-quality purpose-built rental living,” said Simon Holmes, managing partner and chief investment officer at BGO.
The building, at 1475 Whites Road, was sold by developer BOST Group. Pricing worked out to $559,000/unit, and the deal closed on Nov. 5. BGO is the majority owner. The property will be managed on-site by Sterling Karamar Property Management.
BGO and Starlight own a two-building apartment complex in Burlington, a 113-unit apartment building in Victoria and a majority stake in a two-tower apartment property in Kitchener.
