/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
The Fund was established for the primary purpose of indirectly acquiring, owning and operating a portfolio of income producing rental properties in the U.S. multi-family real estate market. Shortly following completion of the Offering, the Fund intends to indirectly acquire interests in a portfolio of three multi-family residential properties that comprise a total of 891 suites located in the
The Fund has received commitments from an affiliate of Starlight, the principal of Starlight and certain other investors known to Starlight to subscribe for a minimum of the Canadian dollar equivalent of
The Fund has received conditional approval from the
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund in
This offering is only being made to the public by prospectus. A prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of
This news release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the Fund and Starlight regarding future events, including statements concerning expressions of interest and commitments by an affiliate of Starlight, the principal of Starlight and certain other investors known to Starlight for Units of the Fund, the closing of the Offering and timing thereof, the use of proceeds of the Offering, the Offering being "June business", the timing of the acquisition of the
Material factors and assumptions used by management of the Fund to develop the forward-looking information include, but are not limited to, the Fund's current expectations about: the availability of properties for acquisition and the price at which such properties may be acquired; the availability of mortgage financing; the capital structure of the Fund; the level of participation in the Offering by purchasers; the purchase of Units by investors having expressed an interest in the Offering; the global and North American economic environment; foreign currency exchange rates; and governmental regulations and tax laws. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
Although management believes that the expectations reflected in such forward-looking statements are reasonable and represent the Fund's internal projections, expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Fund's control, could cause actual results in future periods to differ materially from current expectations of estimated or anticipated events or results expressed or implied by such forward-looking statements. Such factors include the risks identified in the prospectus, including under the heading "Risk Factors" therein, as well as, among other things, risks related to investors having expressed an interest in purchasing Units in the Offering not doing so, the availability of suitable properties for purchase by the Fund, the availability of mortgage financing for such properties, and general economic and market factors, including interest rates, prospective purchasers of real estate, business competition, changes in government regulations or income tax laws. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the Fund undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE Starlight U.S. Multi-Family (No. 3) Core Fund