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TORONTO, March 31, 2021 /CNW/ - Starlight U.S.
Multi-Family (No. 1) Core Plus Fund (TSX.V: SCPO.UN) (the
"Fund") is pleased to announce that effective March 31, 2021, Kelly
Smith has joined Daniel
Drimmer and Harry Rosenbaum
as an independent director of the general partner of the Fund.
Following Ms. Smith's appointment, the board of directors of the
general partner has now achieved the 30% Club Canada's aim for
better gender balance at the board level. Ms. Smith has over 30
years of commercial real estate experience. Most recently, until
January 2020, she was Chief Executive
Officer for Strathallen Capital Corp., a fully integrated Canadian
real estate management platform, focused on retail properties, with
over C$1.4 billion in assets under
management. Ms. Smith is currently a member of the board of
trustees of TSX-listed CT REIT and Starlight U.S.
Multi-Family (No. 2) Core Plus Fund, and an independent member
of the investment committee for BRE Fund, part of BMO's Merchant
Banking Group. Ms. Smith was previously a member of the board of
trustees of the formerly TSX-listed Agellan Commercial REIT. Ms.
Smith holds both an M.B.A. (1991) and an H.B.A. (1986) from
Western University (formerly the
University of Western Ontario) and
holds the ICD.D designation from the Institute of Corporate
Directors.
"I am delighted that Kelly has agreed to join the board of
directors of the Fund," said Daniel
Drimmer, Chairman and Chief Executive Officer of the Fund.
"Kelly brings with her a wealth of real estate experience and we
look forward to working closely with her to deliver on the Fund's
objectives."
The Fund also announced that effective March 31, 2021, Graham
Rosenberg has resigned as a director of the Fund and
Harry Rosenbaum has been appointed
as lead director.
Mr. Drimmer continued, "I would like to thank Graham for all of
his efforts with the Starlight U.S. Funds, including helping
oversee the successful sale of Starlight U.S. Multi-Family (No. 5)
Core Plus Fund and Starlight U.S. Multi-Family (No. 1) Value-Add
Fund as well as being a part of the successful initial public
offering of the Fund," said Daniel
Drimmer, Chairman and Chief Executive Officer of the Fund.
"Graham has been a key part of the growth of the Starlight U.S.
Funds and on behalf of the Starlight team and management, we thank
him for all of his effort over the past five years."
About Starlight U.S. Multi-Family (No. 1) Core
Plus Fund
The 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 income producing
rental properties in the United
States multi-family real estate market.
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.
SOURCE Starlight U.S. Multi-Family (No. 1) Core Plus Fund