Centurion Apartment REIT has Closed the Acquisition of a New Multi-Residential Apartment Property in Surrey, British Columbia

September 25, 2019

Centurion Apartment REIT has Closed the Acquisition of a New Multi-Residential...

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 Surrey, British Columbia.

The six-storey property is situated at 13555 96th Avenue in downtown Surrey. Completed in 2018, Fusion houses 146 residential units, three levels of secured underground parking, and optional out-of-suite storage and bicycle storage. It offers a mix of one, two, and 2-bed plus den rental units. The suites feature condo-quality finishes including quartz countertops, custom kitchen islands, full-size, stainless steel appliances including microwave and dishwasher, and in-suite washer/dryer.

The building’s state-of-the-art amenities and shared spaces are designed for urban lifestyle with fully equipped fitness centre, rooftop terrace with lounge seating, resident entertainment lounge, and “Wooftop Terrace” dog run.

The property is conveniently located in Surrey’s emerging City Centre, minutes away from shopping, restaurants, an expanding financial district, and top schools. Public transit options are located steps from the property, with direct and efficient access to downtown Vancouver and walking distance to King George Skytrain.

Centurion President and CEO Greg Romundt commented, "Through the acquisition of this new property, Centurion will be able to further cement and expand its footprint in Western Canada, while continuing to develop additional economies of scale (map) and achieve accretive, risk-adjusted investment returns.”

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