/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
TORONTO, March 15, 2018 /CNW/ - Starlight U.S.
Multi-Family (No. 5) Core Fund (TSX.V: STUS.A, STUS.U) (the
"Fund") today announced its March
2018 cash distribution amounts on its outstanding Class A
Units, Class C Units, Class D Units, Class E Units, Class F Units,
Class H Units and Class U Units (collectively, the "Units"),
payable on April 16, 2018 to holders
of Units of record at March 30, 2018.
The distribution amounts will be as follows:
- C$0.05417 per Class A Unit,
representing approximately C$0.65 per
Unit on an annualized basis;
- C$0.05417 per Class C Unit,
representing approximately C$0.65 per
Unit on an annualized basis;
- C$0.05417 per Class D Unit,
representing approximately C$0.65 per
Unit on an annualized basis;
- US$0.05417 per Class E Unit,
representing approximately US$0.65
per Unit on an annualized basis;
- C$0.05417 per Class F Unit,
representing approximately C$0.65 per
Unit on an annualized basis;
- C$0.02917 per Class H Unit,
representing approximately C$0.65 per
Unit on an annualized basis less a portion of the cost of the
derivative instrument purchased by the Fund to provide the holders
of Class H Units with some protection against any weakening of the
U.S. dollar as compared to the Canadian dollar on termination and
liquidation of the Fund (the "Class H Unit Liquidation
Hedge"); and
- US$0.05417 per Class U Unit,
representing approximately US$0.65
per Unit on an annualized basis.
A wholly-owned subsidiary of Starlight Group Property Holdings
Inc., the manager of the Fund, may at its sole discretion,
discontinue the Class H Unit Liquidation Hedge in the event that
derivative instruments are not available on an economical basis or
the manager determines that the continuation of the Class H Unit
Liquidation is no longer in the best interests of holders of Class
H Units.
Conversion Ratio Update
The Fund has confirmed the Unit conversion ratios for the period
from April 1, 2018 to June 30, 2018 for all convertible units in
accordance with, and subject to compliance with, the terms and
conditions of the Fund's amended and restated limited partnership
agreement dated as of October 12,
2016. For each Unit so converted, a holder will receive that
number of Units set out below:
Canadian Dollar Dominated Units
|
Class A Units to
Class D Units:
|
|
0.99923
|
|
Class C Units to
Class A Units:
|
|
1.05541
|
|
Class D Units to
Class A Units:
|
|
1.00000
|
|
Class F Units to
Class A Units:
|
|
1.03166
|
|
Class H Units to
Class A Units:
|
|
1.00000
|
U.S. Dollar Dominated Units
|
Class E Units to
Class U Units:
|
1.00000
|
|
Class U Units to
Class E Units:
|
0.99923
|
In all cases, no fractional Units will be issued upon
conversion, and any fractional amounts will be rounded down to the
nearest whole Unit. The conversion ratios may be amended at the
discretion of the Fund from time to time.
About Starlight U.S. Multi-Family (No. 5) 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.
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. 5) Core Fund