An affiliate of Blackstone Property Partners in partnership with Starlight Investments has closed on the purchase of a six-property portfolio in Canada. The price was not disclosed. The portfolio includes low-, mid- and high-rise communities, totaling 746 units. Five of the communities are located in Toronto while the remaining property is in Montreal. The acquisition marks Blackstone’s first investment on Canada’s multifamily market. “Blackstone is excited about the opportunity to enter the multifamily sector in Canada with a partner that has a national presence and proven track record,” said Olivia Hamlet, managing director at Blackstone. “We believe in the multifamily fundamentals in Canada’s major cities and hope to do more in the space.”
