Centurion Apartment REIT Announces the Acquisition of a Multi-Residential Apartment in Kelowna, British Columbia

June 21, 2023

Exterior view of the apartment building at Knox Village

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the acquisition of Phase I of a three-phase multi-residential apartment portfolio, called Knox Village, located at 1450 Cara Glen Court, Kelowna, BC.

The Knox Village portfolio consists of four mid-rise, multi-residential apartment buildings constructed in three phases. Phase I, totaling 60 units, was recently completed. Phase II, totaling 61 units, is set to be completed at the end of this year and Phase III, totaling 117 units is set to be completed mid-2024.

The building offers a variety of suite types including studio, one-bedroom, one-bedroom + den, two-bedroom, two-bedroom + den, and three-bedroom units. The suites feature a contemporary design, with quartz kitchen and bathroom countertops, in-suite laundry and stainless-steel appliances. The building offers condo quality amenities including an outdoor patio, fitness area, prewired electric vehicle plugins, indoor parking and a clubhouse.

The property is conveniently located neighbouring Knox Mountain Park, minutes away from TRIO Apartments, another Centurion rental community and a less than a 10-minute drive from downtown Kelowna. Moreover, residents will find a wide range of amenities within a 5-10 minute drive, including national wide grocery stores, medical services, restaurants, and retail stores.

“We are pleased to be adding the first Phase of Knox Village to our expanding British Columbia portfolio.” commented Greg Romundt, Centurion President and CEO. “This acquisition is our third in Kelowna and aligns with our commitment to investing in strong, growing markets. We are excited about the completion of Phase II later this year and look forward to the final phase's completion in mid-2024, further expanding our presence in the Kelowna market.”

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