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

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the 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 a total of 534 units across seven mid-rise, multi-residential apartment buildings, constructed in three phases.

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. Today’s closing of Phase III, located at 615 Boulevard Du Plateau, accounts for the final building of the portfolio, containing 99 rental units.

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. The suites feature private outdoor terraces, 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 excited to finalize the third and final phase of this acquisition," commented Greg Romundt, Centurion President and CEO. "We look forward to serving Residents and fostering continuous growth and development within the community."

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