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

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the acquisition of the third and final phase (“Phase III”) of Knox Village, a three-phase multi-residential apartment portfolio located at 1420, 1430, 1440, and 1450 Cara Glen Court in Kelowna, British Columbia.

The Knox Village portfolio consists of four wood-frame, mid-rise apartment buildings with a total of 238 rental suites. Phase III, consisting of 117 newly completed units, marks the final addition to the portfolio.

Centurion previously acquired Phase I, comprising 60 units, in June 2023, followed by Phase II, totalling 61 units, in December 2023.

The property offers a variety of layouts, including studio, one-bedroom, one-bedroom + den, two-bedroom, two-bedroom + den, and three-bedroom units. These units feature contemporary designs, including quartz countertops in the kitchens and bathrooms, in-suite laundry, and stainless-steel appliances. Residents also enjoy access to a range of amenities, including a spacious outdoor patio, fitness center, pre-wired electric vehicle charging stations, and indoor parking.

Located next to Knox Mountain Park, the property is just minutes from TRIO Apartments, another Centurion community, and less than a 10-minute drive from downtown Kelowna. Residents benefit from convenient access to nearby amenities, including grocery stores, medical services, restaurants, and retail options, all within a 5-10-minute drive. The location offers a practical mix of urban convenience and proximity to outdoor activities, ideal for those seeking an active lifestyle and easy access to everyday essentials.

“Kelowna is one of the fastest-growing communities in British Columbia, driven by a robust local economy, favourable demographics, and a low vacancy rate.” commented Greg Romundt, Centurion President and CEO. “We are excited to expand our presence in this growing market and complement our existing properties in the area, bringing our total number of units in Kelowna to 517."

For media inquiries, please contact communications@centurion.ca