Centurion Apartment REIT Announces the Pending Acquisition of Phase II of a Multi-Residential Portfolio in Gatineau, Québec

March 7, 2023

Interior view of an Apartment kitchen, a pool, and an exterior view of the apartment.

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the pending acquisition of Phase II of a three-phase, multi-residential apartment portfolio called NOX, located at 40-60 Marguerite Maille in Gatineau, Québec.

The NOX portfolio consists of seven mid-rise, multi-residential apartment buildings, constructed in three phases. Phase I, located at 350-380 Boulevard de l'Amérique-Française in Gatineau, Québec, comprises of four buildings with 277 rental units, and was acquired by Centurion in January 2023. Phase II, located at 40-60 Marguerite Maille is comprised of two properties with 158 rental units, of which just over 50% are leased. Phase III, located at 615 Boulevard Du Plateau, consists of one building with 99 rental units, and is anticipated to be completed in the Spring.

Each building offers a variety of suite types including studio, one-bedroom, one-bedroom with a den, one-bedroom with a den plus mezzanine, two-bedroom, and two-bedroom plus mezzanine units. The suites have a modern design with high-quality finishes and plenty of natural light. Each suite features a private outdoor terrace, in-suite laundry, and stainless-steel appliances. Amenities include a shared rooftop terrace, a gym, swimming pool, hot tub, a relaxation lounge, and pet wash facilities. The properties also offer ample indoor and outdoor parking options.

NOX is strategically located in Gatineau’s Plateau neighborhood, directly adjacent to Appartements Central, another brand-new rental community consisting of 345 apartment units, which Centurion purchased from the same developer in early 2022. Additionally, NOX offers direct access to Agora Urban Village, an urban mixed-use development offering an array of retail, entertainment, grocery and lifestyle options, including boutiques, food markets, cafes, pharmacies, and health clinics. It is also in close proximity to Central Park’s 26 acres of green space, as well as public transit and highways enabling access to downtown Ottawa in under 10 minutes.

The Plateau area offers a great variety of activities, leisure and recreation as well as access to a full range of services, amenities, and proximity to work. The strong locational attributes will keep boosting the rental demand in the area to directly benefit the portfolio.

“The exceptional construction and strategic location of this property will help in meeting the rental demands of the rapidly growing Gatineau-Ottawa region.” commented Greg Romundt, Centurion President and CEO.

For media inquiries, please contact [email protected]

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