Toronto (November 25, 2024) – BGO, a leading global real estate investment manager and provider of real estate services, and Starlight Investments (“Starlight”), a leading global real estate investment and asset management firm, announced today the joint acquisition of a newly developed multi-family residential property in Pickering. The 12-storey, 227-suite property named Fourteen75, represents the fifth joint venture transaction for both firms totaling more than $600 million in AUM to date since the formation of their partnership in 2021.
“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, BGO. “Fourteen75 has seen robust demand from a wide variety of renters seeking a modern, highly amenitized rental community with professional management in a location that boasts tremendous proximity to major transportation and shopping destinations.”
“We are pleased to expand our multi-family portfolio to the rapidly growing City of Pickering,” said Heather Kane, Executive Vice President, Asset Management, Canadian Residential at Starlight Investments.“This exceptional residence, with its modern design and attractive location, presents convenient, comfortable, high-quality homes that are suitable for both individuals and families.”
Fourteen75, located at 1475 Whites Road North, Pickering, ON, presents a range of premium open-concept one-bedroom, two-bedroom and three-bedroom suite layouts with modern and sophisticated finishes including high-quality vinyl plank flooring, in-suite laundry, stainless-steel kitchen appliances and private balconies. The residence features extensive surface-level and underground parking for residents, electric vehicle charging stations, bike racks, storage lockers and amenities such as a spacious party room, games room, fully equipped fitness centre, children’s playground and outdoor BBQ area.
This exceptional residence, completed in 2024, is in an excellent location offering convenient access to numerous local amenities including restaurants, grocery stores and a variety of retail shops while the shores of Lake Ontario and Frenchman’s Bay are only minutes away. The residence is also a 5-minute walk to Whites Road Shopping Centre and has highly convenient transportation connections to major highways, GO Transit and Durham Region Transit.
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $85 billion USD of assets under management (as of September 30, 2024) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bgo.com
Starlight Investments is a leading global real estate investment and asset management firm headquartered in Toronto, Ontario, Canada. A privately held owner, developer and asset manager of over 71,000 multi-residential suites and over 7 million square feet of commercial property space with CAD $30B AUM, we offer a range of investment vehicles across various real estate strategies. Starlight’s guiding mission is to balance our tenure with visionary curiosity to create positive impact for investors and communities alike. At Starlight, we invest with impact.
Learn more at www.starlightinvest.com or connect with us on LinkedIn.
Media Contacts
Rahim Ladha
Global Head of Communications, BGO
media@bgo.com
Gwen McGuire
Director, Communications, Starlight Investments
media@starlightinvest.com