Centurion Apartment REIT Announces the Acquisition of a New Multi-Residential Apartment Property in Montréal, Quebec

November 30, 2020

An exterior view of Le Art apartment building in Montreal, an outdoor pool, a furnished kitchen, and a furnished bedroom.

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has closed the aquisition of a multi-residential property in Montréal, Québec. This property brought Centurion's portfolio to three properties in Québec and 1,262 total rental units.

Completed in 2018, the property is located at 1155 Mackay Street in the heart of Montreal, just 10 minutes away from La MARQ–Centurion’s student property. Le Art houses 138 residential units offering five loft suites, one-bedroom, two-bedroom, and three-bedroom suites, atop 8,675 square feet of commercial space.

The suites feature nine-foot ceilings, luxury vinyl flooring, large windows for an abundant supply of natural lighting, balcony in select suites (penthouse suites have a terrace), and modern kitchen with quartz countertops and six appliances—fridge, stove, dishwasher, microwave, washer, and dryer. Some suites even feature separate tub and shower, which also include double sinks.

The 16-storey, high-rise property provides an exceptional living environment with convenient amenities such as outdoor rooftop pool, rooftop patio with a barbecue and 360-degree view of the city, fitness facility, heated underground parking stalls and storage lockers, and controlled smart card access.

Le Art is located within steps of local shopping, such as the Eaton Center, and is close to restaurants, hotels, bars, the central business district, and various transportation options. The building is also walking distance to Mount Royal Park, and minutes away from universities such as McGill and Concordia.

“The Montréal multi-residential market is the largest and one of the healthiest among Canadian cities. It benefits from favorable demographics, positive net migration, and active young population of students and professionals,” says Centurion President and CEO Greg Romundt. “The acquisition of this beautiful property is a natural step for Centurion as we continue our expansion in Québec and improve our economies of scale.” (map)   

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