Starlight U.S. Multi-Family (No. 2) Core Plus Fund (TSXV:SCPT.A), a fund managed by Starlight Investments, entered into a purchase and sale agreement to acquire 320-suite Class A Institutional Quality Multi-family Property Located in Raleigh, North Carolina for approximately $110 million.

Starlight U.S. Multi-Family (No. 2) Core Plus Fund (TSXV:SCPT.A), a fund managed by Starlight Investments entered into a purchase and sale agreement to acquire 320-suite Class A Institutional Quality Multi-family Property Located in Raleigh, North Carolina for approximately $110 million on March 18, 2022. In connection with the acquisition of the property, new financing in the amount of approximately $82.9 million, including $76.5 million of initial funding and $6.4 million of future funding for capital expenditures, has been secured for an initial term of three years, with two one-year extension options.

The agreement contains customary representations and warranties for a transaction of this nature and, subject to the satisfaction or waiver of conditions, is scheduled to close on or about April 27, 2022. The fund has waived its due diligence conditions set out in the agreement.