Starlight U.S. Multi-Family (No.1) Core Plus Fund announced that it has secured a USD 250 million credit facility (the "Credit Facility") to strategically reposition its debt capital structure. The Fund has drawn USD 127.7 million on the Credit Facility to refinance outstanding mortgages secured by three of its properties. The remaining committed availability on the Credit Facility of USD 122.3 million provides the Fund with significant financing capacity for future acquisitions and refinancing. The Fund has obtained an initial advance of USD 127.7 million under the Credit Facility and entered into a new pooled mortgage secured by each of Grand Oak at Town Park ("Grand Oak"), Southpoint Crossing ("Southpoint") and 401 Teravista ("Teravista") (the "Mortgage Refinancing"). The Credit Facility has an initial four year term and interest only payments until maturity at the U.S. 30-day Secured Overnight Financing Rate ("SOFR") + 2.35%, resulting in a weighted average interest rate on the Mortgage Refinancing as at October 15, 2020 of 2.44%. The new pooled mortgage results in an overall weighted average cost of debt for the Fund of 2.19% as at October 15, 2020.