Starlight Investments, through its Starlight US Residential platform, has formed a new joint venture with two global institutional partners (which it is calling the Sherrin partnership) that will be focused on the acquisition of a large, diversified portfolio of multifamily properties located in the highest job and rental growth markets in the Southern US.
The partnership has been seeded with the Starlight US Multifamily Core Plus Fund for $600 million and also the purchase of an institutional multifamily value-add portfolio for $700 million.
This initial portfolio consists of approximately 4,600 units in 13 class A, garden and wrap style multifamily properties located in Atlanta, Georgia; Austin, Texas; Charlotte, North Carolina; Denver, Colorado; Nashville, Tennessee; Phoenix, Arizona; Raleigh, North Carolina; and Tampa, Florida.
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