November 2019: Origin Merchant Acts for Starlight U.S. Multi-Family Value-Add Fund on US$239.6 million Sale to PSP Investments

Starlight U.S. Multi-FamilyOrigin Merchant Partners is pleased to announce that an entity, majority-owned by the Public Sector Pension Investment Board (“PSPIB”), has indirectly acquired all of the real estate assets indirectly owned by Starlight U.S. Multi-Family (No.1) Value-Add Fund (the “Fund”). The acquisition was valued at approximately US$239.6 million.

Origin Merchant Partners acted as Financial Advisor to the special committee of The Independent Members of the Board of Directors of Starlight U.S. Multi-Family (No.1) Value-Add GP, Inc., providing a fairness opinion with respect to this transaction.

Starlight U.S. Multi-Family (No.1) Value-Add Fund is a limited partnership formed under the Limited Partnerships Act (Ontario) for the primary purpose of indirectly acquiring, owning and operating a portfolio of value-add, income producing rental properties in the U.S. multi-family real estate market.

Public Sector Pension Investment Board is one of Canada’s largest pension investment managers, investing funds for the pension plans of the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force. PSPIB manages a diversified global portfolio in more than 75 industries and 75 countries.

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