Centurion Apartment REIT Opening
March 19, 2020
Centurion Asset Management Inc. is pleased to announce that Centurion Apartment Real Estate Investment Trust (“REIT”) will be opening for an equity raise, with the first closing set for April 1, 2020. The REIT will remain open for closings until at least the May 1, 2020 closing date to ensure advisors and investors have enough time to respond.
Commenting on the opening, Centurion President and CEO Greg Romundt stated, “We are fortunate to be in a resilient business (rental apartments). We expect demand to remain strong for rentals in an economically uncertain environment, like the one caused by COVID-19. We believe that the financial market volatility, like we’ve seen in the past few weeks, ultimately creates opportunities for long-term investors like Centurion. While the REIT is highly liquid, with approximately $200 million of reserves, we believe that market volatility may open up opportunities to buy great assets at great prices, and we want to be ready."
Greg added, "Our leverage is low and we intend to keep it that way. Rather than using our $150 million in operating facilities, our preference is to use equity to make potential investments to maintain low leverage, financial flexibility, and the ability to move quickly. We are fortunate to have our head office team and most of our employees ready and able to work from home, so we are positioned to execute not only on the existing portfolio, but also on the opportunities as they present themselves.”
We encourage both advisors and investors wishing to subscribe to Centurion Apartment REIT to indicate their interest to their advisors.
IMPORTANT: Please be advised that we are only accepting wire transfers or Fundserv for subscriptions (no cheques) until further notice as our head office team is currently working remotely.