Centurion Apartment REIT has Closed the Acquisition of a Multi-Residential Apartment Property in Baytown, Texas

March 12, 2020

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

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the acquisition of an 85% interest in a multi-residential property in Baytown, Texas, U.S.A.

The property is located at 2800 W Baker Road in Baytown, Texas. Centrally located in the heart of Baytown, Oxford at Country Club is a wood frame three-storey, garden-style multi-residential apartment building offering 228 suites with a mix of one, two, and three bedrooms. The suites feature 9-foot ceilings, central air conditioning, balconies, granite countertops, eat-in kitchens with full-size appliances including microwave and dishwasher, walk-in closets, washer/dryer hookups, and in-suite storage.

Residents need not go far to relax as the property offers lush green spaces, resort-style swimming pool with tropical water feature, spacious clubroom with fireplace and pool table, barbecue and picnic area, playground, and a dedicated business centre. The community is close to the Texas 146, Texas 330 Spur, and Interstate 10, providing a direct route to downtown Houston. The property is surrounded by many local parks as well as essential amenities such as groceries, shopping centres, and restaurants.

This is a very exciting time for Centurion as we continue to find accretive investments not only in Canada, but in the U.S. as well,” (map) says Greg Romundt, Centurion President and CEO. “This new acquisition will place us in the position to benefit from the rental market growth in Baytown brought about by new construction and expansion projects alongside the growth of other sectors such as hospitality/retail, education, and healthcare.”

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