Centurion Apartment REIT Announces the Acquisition of Three Multi-Residential Apartment Properties in Ontario

March 29, 2021

Exterior views of 550 Lang's Road, 333 Simcoe Street, and 1140 Mary Street apartments.

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce it has closed the acquisition of three multi-residential properties in Ontario — two in Oshawa and one in Ottawa. The portfolio has a total of 329 rental apartment units across three properties. This new acquisition brought Centurion’s current Ontario portfolio to 3,455 rental units.

The two properties in Oshawa are located at 1140 Mary Street North and 333 Simcoe Street North, just outside of Toronto. 1140 Mary Street North comprises 117 rental units and  features a variety of suite options including bachelor, one-, two-, and three-bedroom units. 333 Simcoe Street North comprises 41 rental units offering one-, two-, and three-bedroom suites. Both properties offer a laundry facitility, controlled entry, and underground and surface parking options. The buildings are situated near major highways, public transit, grocery and retail stores, restaurants, and schools.

The third property is located at 550 Lang’s Road in Ottawa and comprises 171 rental units. Floor plan options include bachelor, one-, and two-bedroom suites. Renovated units feature laminate counters, ceramic backsplash, and dishwasher in select suites. The property offers on-site laundry, fitness facility, controlled entry, underground and surface parking, storage lockers, and social room. The building is just 15 minutes away from the city centre and is situated near major highways, public transit, grocery and retail stores, restaurants, and schools.

"Centurion is thrilled to advance our expansion in Ontario with these three acquisitions,” says Greg Romundt, Centurion President and CEO. "The Portfolio is located in two high-growth markets in Southern Ontario and benefits from ease of access to local public transit, the 400 series highways, and the GO Transit train line, that also connects the Portfolio to the wider Ontario Region.”

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