Centurion Apartment REIT Announces the Pending Acquisition of a New Multi-Residential Property in Kelowna, British Columbia

March 30, 2021

An exterior view of the Knox Village apartments.

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the pending acquisition of a new multi-residential property in Kelowna, British Columbia. Upon completion, this new property will bring Centurion's Kelowna portfolio to two communities and 413 rental units. The property is under construction and the transaction will close in phases, with the first phase expected to close on October 2022 and final phase in May 2023.

Located at 510 and 550 Clifton Road, Knox Village is a brand-new development comprising four residential buildings offering a total of 238 rental apartment units. The property offers an array of floorplans such as studio, one, two, and three-bedroom suites - options with dens are also available. The suites will feature high-end condo finishes, in-suite laundry, and stainless-steel appliances.

Knox Village residents will have access to amazing onsite amenities such as fitness facilities, private clubhouse, and electric vehicle plug ins. This energy-efficient building is situated in hillside heights – less than ten minutes to downtown Kelowna. It is minutes from Knox Mountain Park and close to the Clifton and Cara Glen Way intersection.

Centurion President and CEO Greg Romundt commented, “Kelowna is the third largest metropolitan area in British Columbia after Vancouver and Victoria. This stunning city unites the beauty of nature with the convenience of city living. Knox Village is well-positioned to welcome residents looking for a place outside the urban centre that is close to lots of green spaces with convenient amenities. Centurion is excited to further expand our footprint in this vibrant city with Knox Village.(map)     

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