Centurion Apartment REIT has Closed the Acquisition of a New Multi-Residential Apartment Property in Langford, British Columbia
March 19, 2020
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the acquisition of a newly constructed multi-residential property in Langford, British Columbia. This new acquisition brought Centurion's portfolio to 10 properties and 611 rental units in the Greater Victoria Area.
The six-storey, purpose-built rental apartment is situated at 2849 Bryn Maur Road, adjacent to six other Centurion properties along Hockley Avenue. Completed in January 2020, The Arc houses 93 residential units with underground parking and out-of-suite storage lockers. The property offers a mix of one and two-bedroom units with dens and additional bathrooms in select suites. The suites are pet-friendly and feature full-size appliances including microwave and dishwasher, individual heating and cooling system, and in-suite washer/dryer.
The Arc is conveniently situated close to Westshore Town Centre, as well as a variety of amenities including groceries, retail stores, and restaurants. It is two minutes away from the Langford bus exchange and Downtown Victoria is just 25 minutes away.
“Greater Victoria’s low rental vacancy rate is one factor driving market demand for more multi-family residential housing. To support this demand, we are excited to offer Langford residents another high-quality rental housing option managed by Centurion’s best-in-class team,” said Centurion President and CEO Greg Romundt. (map)
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