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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Starlight US Residential Fund | TSXV:SURF.A | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.00 | 2.00 | 2.50 | 0 | 00:00:00 |
From Feb 2023 to Feb 2025
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
TORONTO , June 2, 2023 /CNW/ - Starlight U.S. Residential Fund (TSXV: SURF.A) (TSXV SURF.U) (the "Fund") announced today that it has closed on the previously announced disposition of 56 ("SFR Sale Portfolio") of its 98 single-family homes located in the suburban area of Atlanta, Georgia.
Pursuant to a purchase and sale agreement (the "Agreement") dated May 19, 2023, the Fund has sold the SFR Sale Portfolio to an institutional investor (the "Purchaser") for approximately US$13.77 million. Proceeds from the sale have been used to pay down the Fund's single-family credit facility which now has an outstanding balance of approximately US$1.1 million with an interest rate equal to the secured overnight financing rate (SOFR) + 3.10%. Following the sale of the SFR Sale Portfolio, the Fund will continue to own and operate 42 single family homes.
The Fund retained Roofstock Realty LLC ("Roofstock") to represent the Fund relating to the sale. Roofstock is a leading single-family home marketplace and broker with transaction experience of ~US$5 billion.
The Fund is a trust formed under the laws of Ontario for the primary purpose of indirectly acquiring, owning and operating a portfolio of income producing multi-family and single-family residential rental properties in the U.S. residential real estate market located primarily in Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To learn more about the Fund, visit www.starlightinvest.com or contact:
SOURCE Starlight U.S. Residential Fund
Copyright 2023 Canada NewsWire
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