Centurion Apartment REIT Announces the Acquisition of its First Multi-Residential Apartment Property in the U.S.
November 30, 2018
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the acquisition of an 85% interest in a multi-residential property in Texas, U.S. This transaction is Centurion’s first acquisition in the U.S.
The three-storey property is situated at 31200 FM 2920 Road in Waller, a city located northwest of Houston. Built in 2017, Oxford at The Ranch has 224 suites with a mix of one, two, and three bedrooms featuring spacious living areas with modern finishes, full-size appliances, and in-suite washer and dryer. The property comes with state-of-the-art amenities such as resort-style pool with spa, fully equipped fitness centre, social room with billiards, outdoor BBQ area, controlled access gates, and valet trash service. The community is conveniently located off U.S. Highway 290 and close to retail stores, restaurants, banks, supermarket, and schools.
Centurion President and CEO Greg Romundt shares, "This marks Centurion’s very first acquisition outside Canada. Northwest Houston is one of the fastest-growing areas in Texas with companies starting to establish campuses and facilities in this region. Centurion believes this initial acquisition will open a pipeline of future developments and acquisitions, which will bolster Centurion’s presence in the U.S.”