/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, March 14, 2014 /CNW/ - Starlight U.S.
Multi-Family (No. 2) Core Fund (TSX.V: SUD.A, SUD.U) (the "Fund")
announced today the cash distribution on the outstanding Class A
Units, Class C Units, Class D Units, Class F Units and Class U
Units (collectively, the "Units") for the period from
March 1, 2014 to March 31, 2014. The distribution amounts will be
as follows:
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i.
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C$0.03334 per Class A
Unit;
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|
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ii.
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C$0.03958 per Class C
Unit;
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|
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iii.
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C$0.03750 per
Class D Unit;
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iv.
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C$0.03869 per
Class F Unit; and
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|
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v.
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US$0.03334 per Class
U Unit.
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The distribution will be paid on April
15, 2014 to unitholders of record as at March 31, 2014. The distribution amounts in
respect of the Class A Units, Class D Units, Class F Units and
Class U Units reflect the applicable Agents' Fee (as defined in the
Fund's amended and restated limited partnership agreement dated
November 5, 2013) that such classes
of Units were subject to. The distributions in respect of the Class
A Units, Class C Units, Class D Units and Class F Units were
determined in U.S. dollars and converted into Canadian dollars at
the spot rate available.
The distribution amounts are based on the proceeds of the Fund's
initial public offering deployed to date. The Fund has previously
announced the expected acquisition on April
1, 2014 of Soho Parkway Apartments following which the
remaining unallocated proceeds from the Fund's initial public
offering will be deployed.
About Starlight U.S. Multi-Family (No. 2) Core 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 diversified income producing rental properties in the
U.S. multi-family real estate market.
Forward-Looking Information
This news release contains statements that may constitute
forward-looking information within the meaning of Canadian
securities laws and which reflect the Fund's current expectations
regarding future events, including statements concerning: the
payment of distributions; the acquisition of Soho Parkway by the
Fund; national and local real estate market conditions and economic
variables; rental rates; and occupancy rates. Particularly,
statements regarding future results, performance, achievements,
prospects or opportunities for the Fund or the real estate industry
are forward-looking statements. In some cases, forward-looking
information can be identified by terms such as "may", "might",
"will", "could", "should", "would", "occur", "expect", "plan",
"anticipate", "believe", "intend", "seek", "aim", "estimate",
"target", "project", "predict", "forecast", "potential",
"continue", "likely", "schedule", or the negative thereof or other
similar expressions concerning matters that are not historical
facts.
The forward-looking information in this news release involves
risks and uncertainties, including those set forth in the Fund's
materials filed with the Canadian securities regulatory authorities
from time to time at www.sedar.com. Actual results could differ
materially from those projected herein. Those risks and
uncertainties include, among other things, risks related to:
reliance on the Fund's manager; the experience of the Fund's
officers and directors; substitutes for residential real estate
rental suites; reliance on property management; competition for
real property investments and tenants; U.S. market factors; and
currency exchange rates.
Information contained in forward-looking information is based
upon certain material assumptions that were applied in drawing a
conclusion or making a forecast or projection, including
management's perceptions of historical trends, current conditions
and expected future developments, as well as other considerations
that are believed to be appropriate in the circumstances, including
the following: the inventory of multi-family real estate
properties; the population of multi-family real estate market
participants; assumptions about the markets in which the Fund
operates; the ability of the manager of the Fund to acquire, manage
and operate the properties; the global and North American economic
environment; foreign currency exchange rates; and governmental
regulations or tax laws. Readers are cautioned against placing
undue reliance on forward-looking statements. Except as required by
applicable Canadian securities laws, neither the Fund nor its
manager undertakes any 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.
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.2) Core Fund