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Centurion Apartment REIT Announces the Pending Acquisition of a Multi-Family Property in Ottawa, Ontario

September 6, 2022

Centurion Apartment REIT Announces the Pending Acquisition of a Multi-Family...

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the pending acquisition of Les Terrasses Francesca, a multi-family apartment property located at 1425 Vanier Parkway in Ottawa, Ontario.

Built in 2018, this apartment complex consists of a 15-storey high-rise tower and adjoining 3 and 6 storey mid-rise buildings. It has a total of 276 rental apartment units with a variety of floorplans with one-bedroom, one-bedroom plus den, two-bedroom, and two-bedroom plus den, with large balconies in select units. Each suite has high-end fixtures with granite kitchen countertops, hardwood floors, and central heating/cooling systems. Major appliances, including in-suite laundry, are also included.

“Les Terrasses Francesca offers Centurion the addition of a newly constructed, trophy asset to our Ottawa footprint, and features a wide range of premium services, amenities, and above-average unit sizes of 1,159 square feet,” commented Greg Romundt, Centurion President and CEO. “It’s an ideal place for mature professionals and retirees looking for an unparalleled living experience.”

The property offers a wealth of premium services and amenities to residents, including an indoor saltwater swimming pool, a fully equipped exercise facility and yoga studio, a common social lounge, a courtyard with outdoor seating, storage, underground parking, and an on-site concierge.

Located in the Overbrook neighbourhood, Les Terrasses Francesca is part of the City of Ottawa which is the fourth largest cosmopolitan centre in Canada. This key location is just a short drive to downtown Ottawa and within walking distance to public transit providing easy access to all parts of the city via the light-rail transit system. Grocery stores, shopping malls and restaurants are also within close proximity.

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