STARLIGHT U.S. MULTI-FAMILY (NO. 2) CORE PLUS FUND ANNOUNCES STRONG Q3 2022 OPERATING RESULTS INCLUDING S
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TORONTO, Nov. 25, 2022 /CNW/ - Starlight U.S. Multi-Family (No. 2) Core Plus Fund SCPT SCPT (the Fund) announced today its results of operations and financial condition for the three months ended September 30, 2022 (Q3-2022) and nine months ended September 30, 2022 (YTD-2022). Certain comparative figures are included for the three months ended September 30, 2021 (Q3-2021) and the period from January 8, 2021 (date of formation) to September 30, 2021 (YTD-2021).
All amounts in this press release are in thousands of United States (U.S.) dollars except for average monthly rent1 (AMR) or unless otherwise stated. All references to C$ are to Canadian dollars.
The Fund continued to achieve strong operating results during Q3-2022 including 15.0% annualized rent growth and same property net operating income growth of 12.7%(1), reflecting the Fund's ability to take advantage of favorable operating conditions and increase NOI despite the inflationary pressure on operating costs. Operating fundamentals continued to be strong with the Fund's properties delivering rent growth at unprecedented levels.
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