Starlight Investments has announced the acquisition of its second build-to-rent (BTR) development in Leeds, England.

The purchase marks another milestone in Toronto-based Starlight’s expanding U.K. portfolio said the company. The 300-suite property, currently under construction, was purchased from Leeds-based developer Torsion Group. The acquisition increases Starlight’s U.K. holdings to about 3,600 rental suites.

Situated on the eastern edge of Leeds’ city centre, the two-tower development is within walking distance of popular areas, including Kirkgate and nearby leisure offerings. The site is also well-connected to public transit.

The 10- and 17-storey buildings will feature a mix of one-, two-, and three-bedroom apartments along with 63 underground parking spaces. Amenities will include a gym, a cinema and two rooftop terraces. Sustainability features have been incorporated into the project’s design, aligning with modern housing standards, said Starlight.

“We are pleased to further strengthen Starlight’s presence in Leeds, one of the UK’s fastest-growing cities,” said Jonnie Milich, head of Starlight’s U.K. residential business. “The acquisition of this exceptional build-to-rent community underscores our commitment to investing in the creation of high-quality rental housing in the U.K. In 2024, we added over 2,400 suites to our U.K. portfolio, and we look forward to furthering our expansion in the coming year.”

Leeds, the U.K.’s third-largest city, serves as a significant financial centre and employment hub, boasting a mix of modern infrastructure, historic architecture, and a vibrant arts and education scene. The city’s population includes a large number of professionals and students, making it a key market for Starlight’s expansion, said the company

Earlier this year, Starlight acquired a 111-unit BTR project in Leeds for an undisclosed price.

Starlight launched its U.K. expansion program in September 2023 with the acquisition of a waterfront multi-residential development in Liverpool.

The company is a global real estate investment and asset management firm with about $30 billion in assets under management. Starlight operates approximately 71,000 multi-residential suites and about 7 million square feet of commercial space worldwide.

Pictured: Newly acquired Starlight BTR development project in Leeds, England

Photo: CNW Group/Starlight