Centurion Apartment REIT Announces the Pending Acquisition of Phase III of a Multi-Residential Portfolio in Gatineau, Québec

October 25, 2023

Building in Gatineau Quebec

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the pending acquisition of the third and final phase of a multi-residential apartment portfolio called NOX, located at 615 Boulevard Du Plateau in Gatineau, Québec.

The NOX portfolio consists of seven mid-rise, multi-residential apartment buildings, constructed in three phases. Phase III, located at 615 Boulevard Du Plateau, consists of one building with 99 rental units, and is anticipated to close in the Fall.

Phase I comprises of four buildings with 277 rental units and was acquired by Centurion in January 2023. Phase II is comprised of two properties with 158 rental units and was acquired by Centurion in July 2023.

Each building offers a variety of suite types including studio, one-bedroom, one-bedroom with a den, one-bedroom with a den plus mezzanine, two-bedroom, and two-bedroom plus mezzanine units. The suites have a modern design with high-quality finishes and plenty of natural light. Each suite features a private outdoor terrace, in-suite laundry, and stainless-steel appliances. Amenities include a shared rooftop terrace, a gym, swimming pool, hot tub, a relaxation lounge, and pet wash facilities. The properties also offer ample indoor and outdoor parking options.

NOX is located in Gatineau’s Plateau neighborhood, directly adjacent to Appartements Central, another brand-new rental community consisting of 345 apartment units, which Centurion acquired in 2022. The Plateau area offers a great variety of activities, leisure and recreation as well as access to a full range of services, amenities, and proximity to work.

"We are pleased to be expanding our presence in the vibrant Gatineau area," commented Greg Romundt, Centurion President and CEO. "We look forward to finalizing the acquisition later this Fall and continuing to foster growth and development in the community."

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