Starlight, Homestead buy 962 apartments in Toronto &London

A joint venture between Starlight Investments and Homestead Land Holdings has purchased two multi-residential apartment complexes, in Toronto and London, Ont., for $241 million. Together, Parkvue Apartments in the East Toronto district of Scarborough, and Esplanade Apartments in London comprise 962 units. The transaction was handled by JLL Capital Markets, Multifamily Ontario, which issued a release announcing the purchase Monday morning. The identity of the vendor was not released, but Parkvue Apartments has been managed by Metcap Living and is located at 1340, 1350 and 1360 Danforth Rd., near Eglinton. The site consists of three tri-winged towers with 175, 173 and 225 units, plus a variety of amenities spread throughout the three buildings.