Starlight U.S. Multi-Family (No. 1) Value-Add Fund announced that it has entered into an agreement to acquire the remaining interest of approximately 8.5% (the Acquisition) in Landmark at Coventry Pointe (Coventry Pointe). Following completion of the Acquisition, the Fund expects to own a 100% interest in Coventry Pointe, a 250-unit, garden style, value-add multi-family property completed in 2002 and located in Atlanta, Georgia. The Acquisition is expected to be satisfied using a portion of the cash proceeds (the Cash Proceeds) from the refinancing described below, together with the assumption of the vendor's portion of the property level financing. The Fund also announced that concurrently with the Acquisition, it expects to refinance the mortgage at Coventry Pointe for net proceeds of approximately $2.6 million, which is expected to provide the Fund with a $3.8 million capital advance line which can be drawn to fund future value-add initiatives at Coventry Pointe. The mortgage is expected to bear interest at LIBOR + 200 bps and provide for interest only repayments until maturity in January 2021 (the "Refinancing"). As noted above, the proceeds from the Refinancing are expected to be used to partially fund the Acquisition. Pursuant to a purchase and sale agreement effective April 8, 2019, as may be amended from time to time (the "Purchase Agreement"), the Fund has agreed to purchase the remaining interest of approximately 8.5% in Coventry Pointe for the purchase price of approximately $3.70 million less assumed debt of approximately $2.43 million, subject to adjustment for net working capital attributable to the approximate 8.5% interest not owned before the Acquisition. The Purchase Agreement contains customary representations and warranties for a transaction of this nature. Subject to the satisfaction or waiver of conditions precedent, the purchase of Coventry Pointe is scheduled to close on or about April 11, 2019 and is conditional upon the approval of the TSX Venture Exchange.