Centurion Apartment REIT Announces the Pending Acquisition of Another Student Housing Property in Waterloo, ON
October 12, 2021
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the pending acquisition of another student housing property in Waterloo, ON. This acquisition will bring Centurion’s portfolio to a total of 1,506 rental beds in Waterloo and a total of 3,869 rental beds in Centurion’s entire Canadian student housing portfolio.
"The addition of this asset to Centurion’s Waterloo portfolio will be able to further expand our footprint in Waterloo while continuing to develop economies of scale and operational synergies," says Greg Romundt, Centurion President and CEO. "This will also provide students more off-campus living options and to join the MARQ’s vibrant student community.”
This six-storey, purpose-built student housing property in Waterloo, Ontario, is located at 21 Columbia Street West. It is within a 1.5km radius of Centurion’s entire student housing portfolio in the city and directly adjacent to Centurion’s recently acquired 1 Columbia property. This property is in a prime location downtown Waterloo, convenient for university students as it is within 1km from Wilfrid Laurier University, 1.5km from the University of Waterloo, and within steps to many restaurants, shopping centres, and entertainment amenities.
The property was constructed in 2012 comprising 41 five-bedroom units which contain 205 rental beds. All units are air-conditioned and fully furnished with a dining area and a kitchen. The kitchen is equipped with laminate cabinetry, quartz countertops, as well as three appliances: fridge, stove, and dishwasher. It also features 41 covered parking spaces, recently updated carpet tiling in corridors, keyless entry, covered parking, laundry facilities, a large lobby, office, gym, social lounge, and study rooms.
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