Starlight U.S. Multi-Family
(No.5) Core Fund

TSXV: STUS.A

$0
Volume
52 Week High
52 Week Low
 

As of Date

TSXV: STUS.U

$0
Volume
52 Week High
52 Week Low
 

As of Date

TSXV: STUS.U

$0
Volume
52 Week High
52 Week Low
 

As of Date

TSXV: STUS.A

$0
Volume
52 Week High
52 Week Low
 

As of Date

Assets Under Management

$2B

Multi-Family Suites

7289

Properties

23

Number of Markets

13

Investment Highlights

Starlight U.S. Multi-Family (No. 5) Core Fund was established in October 2016 to acquire a portfolio of stabilized, recently constructed Class “A”, institutional quality multi-family real estate properties in the southern United States completed in 2008 or newer.

Strategy

The Fund’s core strategy is to capitalize on historically low vacancy and strong demographic trends in targeted geographic locations experiencing compelling population growth, employment growth and lifestyle preferences. The core strategy also includes active asset management utilizing reputable best-in-class U.S.-based property managers to implement net operating income growth by maximizing rental rates and ancillary revenue opportunities with rigorous operational controls to manage and reduce costs.
Target Markets

  • Southern United States
  • Major markets with +1M populations
  • Suburban markets with strong job, economic and population growth
  • Strategically located
Target Assets

  • Class "A" institutional quality
  • Garden-style
  • Resort style ammenities
  • Built in 2008 or newer
Active Asset Management
  • Increase revenue through rental maximization
  • Reduce operating expenses
  • Renovate selected suites and common areas to attract rental premiums
  • Identify ancillary revenue opportunities
  • Implement light value-add opportunities
The Fund has a 3-year investment horizon, with two one-year extensions available.

Stable Monthly Cash Distributions

The primary objective of the Fund is to generate stable monthly cash distributions for its unitholders and to enhance the value of its assets through active management prior to disposition. The Fund offers across all unit classes an annual, pre-tax distribution target yield of 6.5% and targets a minimum 12% pre-tax investor internal rate of return upon disposition of the properties. Canadian dollar distributions are hedged.

 

 

LISTING DATE: OCTOBER 17, 2016

BOARD OF DIRECTORS AND AUDIT COMMITTEE:

  • Daniel Drimmer
  • Harry Rosenbaum (Independent)
  • Graham Rosenberg (Independent)

EXECUTIVE OFFICERS:

  • Daniel Drimmer, Chief Executive Officer
  • Evan Kirsh, President
  • Martin Liddell, Chief Financial Officer
  • David Hanick, Corporate Secretary

UNIT CLASSES

  • Class A: Canadian dollar, TSX Venture Exchange listed (TSXV: STUS.A), convertible into Class D
  • Class C: Canadian dollar unlisted, convertible into Class A
  • Class D: Canadian dollar unlisted, convertible into Class A
  • Class E: U.S. dollar unlisted, convertible into Class U
  • Class F: Canadian dollar unlisted, convertible into Class A
  • Class H: Canadian dollar unlisted, hedged, convertible into Class A
  • Class U: U.S. dollar, TSX Venture Exchange listed (TSXV: STUS.U), convertible into Class E

Amended and Restated Limited Partnership Agreement

Board Mandate

Audit Committee Charter

Insider Trading Policy

Code of Business Conduct and Ethics
2018
2017
2016
2018
Q1
Q2
Q3
2017
2016

The Fund’s limited partnership tax factors (T5013 and RL15) relating to each fiscal year are available on the CDS Innovations Inc. website.