 | |
| Industry |
|
|---|---|
| Founded | 2011 |
| Headquarters | Toronto, Ontario, Canada |
Key people | Daniel Drimmer (Founder/CEO) |
| Website | starlightinvest |
Starlight Investments is a privately-held Canadian real estate investment and asset management company based in Toronto, Ontario. As of 2021, Starlight owns 70,000 multi-family units (60,000 in Canada and 10,000 in the United States), 8 million square feet of commercial space, and over 600 properties across Canada. [1]
In 2011, Drimmer founded Starlight Investments. [2] In 2012, Drimmer acquired his former company TransGlobe REIT for $1 billion, [3] and also acquired 72 additional buildings with a subsidiary from the Public Sector Pension Investment Board. [4] [5] [6] In February 2020, Starlight bought Northview Apartments REIT. [7]
In 2016, Starlight drew scrutiny from tenants and local politicians around proposed 'renovictions' of tenants. [8] It has also faced other complaints around landlord practices. [9]
The company created a real estate securities investment company, Starlight Capital, in 2018. [10] That November, Starlight Capital announced the Starlight Hybrid Global Real Assets Trust to give retail investors access to a real estate mutual fund. [11]
In January 2021, Starlight purchased the naming rights to a stadium at City Centre Park in Langford after making a sponsorship deal with the city, which saw Bear Mountain Stadium renamed to Starlight Stadium as part of the five-year deal. [12]
In April 2022, Starlight Capital acquired Stone Investment Group, making them the largest owner/operator of purpose-built rental housing in Canada. [13] [1]
In June, Starlight Investments' Canadian Residential Growth Fund III raised CDN $1.2 billion, with 61% of the capital coming from foreign investors. [14] This was the first time foreign investors contributed to one of Starlight's funds. [14]
Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct control investments in real estate, renewable power, infrastructure, credit and private equity. The company invests in distressed securities through Oaktree Capital, which it bought in 2019. Brookfield's headquarters are in Toronto. It also has corporate offices in New York City, London, São Paulo, Mumbai, Shanghai, Dubai, and Sydney.
Caisse de dépôt et placement du Québec is an institutional investor that manages several public and parapublic pension plans and insurance programs in Quebec. CDPQ was founded in 1965 by an act of the National Assembly, under the government of Jean Lesage. It is the second-largest pension fund in Canada, after the Canada Pension Plan Investment Board. As of June 30, 2022, CDPQ managed assets of C$391 billion, invested in Canada and elsewhere. CDPQ is headquartered in Quebec City at the Price building and has its main business office in Montreal at Édifice Jacques-Parizeau.
RioCan Real Estate Investment Trust is the second-largest real estate investment trust (REIT) in Canada. It has an enterprise value of approximately $14 billion, and owns 289 primarily retail properties, with a net leasable area of 44 million square feet. The company properties are located across Canada. The current chief executive officer is Edward Sonshine.
Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. The organization has 2,000+ employees and approximately C$70 billion of assets that it manages for itself and on behalf of its investment partners. Oxford's owned portfolio represents more than 150 million square feet in key global gateway cities and high-growth hubs. Some of its most notable properties include Hudson Yards, Yorkdale Shopping Centre, Fairmont Banff Springs Hotel, Olympic Tower and Sony Center. Oxford also owns a portfolio of luxury hotels in Canada as well as rental residential units in Canada and the US.
Canaccord Genuity Group Inc. is a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada. The firm focuses on growth companies, with operations in 10 countries worldwide and the ability to list companies on 10 stock exchanges. Canaccord Genuity, the international capital markets division, is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia, and Barbados.
The Canada Pension Plan Investment Board, operating as CPP Investments, is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP).
Crombie REIT is a Canadian unincorporated open ended publicly traded real estate investment trust which trades on the Toronto Stock Exchange and has an estimated market capitalization of $1.6 billion. The company is based in New Glasgow, Nova Scotia.
Ares Management Corporation is an American global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997 and is headquartered in Los Angeles, California, with additional offices across North America, Europe, and Asia.
Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. Based on its 2021 revenue, it ranked 630th on the 2021 Fortune 1000, and is a component of the S&P 500. As of early 2021, the firm had an enterprise value of $50 billion and is the world's largest healthcare real estate investment trust.
First Capital REIT is a Canadian public real estate company, specializing in retail real estate, and based in Toronto, Ontario. It is one of the largest retail landlords in Canada.
Morguard Corporation is a Canadian real estate company, based in Mississauga, Ontario. It owns retail, residential, office, industrial, and hotel properties, as well as managing real estate and financial investments for institutional investors. As of October 2017, it owned $9.4 billion in real estate, and managed an additional $12.6 billion.
SmartCentres Real Estate Investment Trust is a Canadian real estate investment trust, based in Vaughan, Ontario. It specializes in retail real estate, especially power centres. Almost all of its malls have Walmart as a tenant; SmartCentre's logo features a family of penguins with shopping bags.
CI Financial is the largest investment management firm by assets under management in Canada. Based in Toronto, Ontario, it offers investment management and wealth management services targeted to high net worth retail investors, as well as brokerage and trading services to portfolio managers and institutional investors. It is considered one of the Big Three investment management companies in Canada, along with Mackenzie Investments and Fiera Capital.
Timbercreek Asset Management is a Canadian real estate company based in Toronto, Ontario. It has $7.5 billion in assets under management, through a number of affiliates, including one listed on the Toronto Stock Exchange. As of August 2016, it owned 200 multi-residential properties worth $3.5 billion, making it the fifth-largest landlord in Canada.
Choice Properties Real Estate Investment Trust is a Canadian unincorporated, open-ended real estate investment trust (REIT) based in Toronto, Ontario. It is the largest real estate investment trust in Canada, with an enterprise value of $16 billion. It mainly owns Canadian retail properties anchored by its major tenant and majority unitholder, Loblaw Companies, Canada's largest food retailer, which is controlled by the Weston family. It is listed on the Toronto Stock Exchange.
H&R Real Estate Investment Trust is a Canadian open-ended real estate investment trust, specializing in commercial real estate, and based in Toronto, Ontario. It is the third largest REIT in Canada by market capitalization. H&R's portfolio includes 40 office properties, 161 retail properties, and 105 industrial properties and 11 other properties, with a total value of $13 billion. It is listed on the Toronto Stock Exchange.
InterRent Real Estate Investment Trust is a Canadian real estate investment trust, specializing in residential real estate, and based in Ottawa, Ontario. As of April 2018, it owns 8,800 suites in Ontario and Quebec, worth $1.66 billion. It is listed on the Toronto Stock Exchange under the symbol IIP.UN.
Canadian Apartment Properties REIT (CAPREIT) is a Canadian real estate investment trust headquartered in Toronto, Ontario, Canada. CAPREIT is the largest publicly traded apartment landlord in Canada, with over $17.7 billion in assets, as of December 2021. As of 2022, CAPREIT owns or has interests in approximately 67,000 residential apartments, townhomes and manufactured housing units across Canada, the Netherlands and Ireland.
Tricon Residential is a Canadian real estate company. The company invests in single-family rental and multi-family rental homes, and owns about 31,000 properties across the United States and Canada. As of February 2021, the company had about $8.2 billion of assets under management.
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