Centurion Apartment REIT Announces the Acquisition of a Multi-Residential Apartment in Dartmouth, Nova Scotia

January 30, 2024

The Carrington Suites

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the acquisition of a brand new, multi-residential apartment called The Carrington Suites, located at 47 Holtwood Court, Dartmouth, Nova Scotia.

The 6- storey building was completed in September 2023 and consists of 86 high-end suites offering a mix of one-bedroom, two-bedroom and three-bedroom units. The suites feature quartz countertops, premium stainless-steel appliances and large balconies. The asset offers excellent amenities, including a fitness room, rooftop terrace, underground parking, storage, and a guest suite.

The Carrington Suites represents the fourth and final phase of a multi-residential development site built by a local developer. Centurion acquired the neighbouring first phase of the development, a 114-unit apartment complex called The Huntington, in December 2014, providing tremendous opportunities for Centurion to establish further operating efficiencies and economies of scale with this new acquisition.  The site is situated in the desirable residential community of Russell Lake West and provides convenient access to various rental demand drivers within close proximity including numerous retail shopping options, restaurants, healthcare facilities, and entertainment venues. The location is also well-connected to the Circumferential Highway, offering quick access to Burnside, the Mic Mac Mall, Dartmouth Crossing, the MacDonald Bridge, and the MacKay Bridge.

"We are excited to be expanding our presence in Nova Scotia and contributing much-needed rental supply to this growing province," commented Greg Romundt, Centurion President and CEO.

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