Centurion Apartment REIT has Closed the Acquisition of a Mixed-Use, Multi-Residential Apartment Property in Edmonton, Alberta

December 13, 2019

Centurion Apartment REIT has Closed the Acquisition of a Mixed-Use, Multi-Residential...

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the acquisition of a Class A, mixed-use, multi-residential property in Edmonton, Alberta. This new acquisition will bring Centurion's portfolio to six properties and 1,278 rental units in Edmonton, subsequent to the closing of the other Edmonton acquisition previously announced.

Completed in late 2016, Mayfair on Jasper is located at 10823 Jasper Ave NW in Downtown Edmonton. The 10-storey, 238-unit property has a mix of studio, one, and two-bedroom suites with luxury interior finishes featuring open-concept layouts, laminate flooring, expansive windows with premium roller blinds, granite countertops, soft-close cabinetry, custom kitchen islands, over-the-range microwaves, dishwashers,  in-suite laundry, and smart-key suite entry.

Mayfair on Jasper has an efficient building design that features smart key system, premium concierge, parcel pending automated delivery system, fitness centre, and dual rooftop parks. It also has 196 parking stalls and 24,901 square feet of commercial space on the main floor. The property’s exceptional location provides residents and commercial tenants immediate access to transportation, entertainment, retail, restaurants, trails, greenspaces, and public services.

Centurion President and CEO Greg Romundt commented, "We constantly look for well-located, high-quality multifamily properties in growing markets such as Edmonton. The demographics and downtown location of the property drives a healthy and sustained demand for these premium apartments. As Edmonton is not a rent-controlled market, Centurion will have the opportunity to capitalize on the improving economic conditions while refining operational efficiencies.” (map)

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