Starlight Investments Expands UK Portfolio with Acquisition of 232-Suite Build-to-Rent Community in Dartford
TORONTO, June 24, 2024 /PRNewswire/ -- Starlight Investments ("Starlight"), a leading global real estate investment and asset management firm, has exchanged on an acquisition to purchase a seven-building master-planned Build-to-Rent ("BTR") community under development in Dartford, Kent, from Bellway London.
The 232-suite community, being completed in three phases, will feature seven mid-rise residential buildings including 163 parking spaces, and a range of high-end rental suites and layouts including studio, one-bedroom, two-bedroom and three-bedroom suites, all of which will be fully furnished. Upon completion, residents will enjoy a range of high-quality amenities and a 2,000 square foot rooftop terrace. Also being acquired is a 3,500 square foot commercial unit located within the development that will be utilized for additional amenity space in the future. The community's design prioritizes sustainability with a low carbon energy strategy and other eco-friendly features. Additionally, residents will have direct access to a large adjacent park, offering substantial green space and family-friendly facilities.
Located centrally near the high street and Dartford station, the community is conveniently situated for commuters to London and surrounding employment hubs. Dartford, the most densely populated city in Kent, is expected to see considerable growth over the next decade.
This transaction marks another milestone in Starlight's European residential asset management platform, which was launched last year with a focus on the UK BTR market. The addition of this new community further complements the company's acquisitions to date in Manchester, Liverpool, Ashford and Leeds and will increase Starlight's UK portfolio to over 1,250 suites, with an additional 1,500 suites in the development pipeline.
"We are pleased to establish Starlight's presence in Dartford, a city with a strong heritage and direct connections to major regional employment centres," said Daniel Drimmer, Founder and Chief Executive Officer, Starlight Investments. "The addition of this community is part of our broader UK expansion strategy and showcases our continued momentum in the UK's dynamic and growing BTR market."
Starlight Investments is a leading global real estate investment and asset management firm with CAD $28B AUM. A privately held owner, developer and asset manager of over 68,000 multi-residential suites and over 7 million square feet of commercial property space, 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.
Contacts: Jonnie Milich, Head, UK Residential, +44 -7930-373-945, [email protected]; Leslie Veiner, Chief Operating Officer, Canada & UK Residential, +1-416‑234‑8444, [email protected]; Talia Schwebel, Vice President, Marketing & Communications, +1-416‑234‑8444, [email protected]
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