Centurion Apartment REIT Announces the Acquisition of a New Multi-Residential Property in Etobicoke, Ontario
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce it has closed the acquisition of 50% interest in Station Place, a brand-new, 40-storey, luxury multi-residential property located in Etobicoke, Ontario. Centurion is acquiring the Property from a partnership between Main & Main Developments and First Capital REIT, who are jointly developing the Property, and will collectively retain the remaining 50% ownership in the Property upon closing. Construction of the Property is nearing completion and is expected to be fully completed by September 2021.
Located at 5239, 5245 & 5249 Dundas Street W. and 3 Aukland Road, Station Place comprises a total of 333 luxury, rental apartment units which sit atop a 42,000sf Farm Boy grocery-anchored commercial retail podium at grade. Upon completion, the 40-storey building will offer residents a variety of floorplans such as studio, one, one plus den, two, and two plus den options in addition to an abundance of entertainment amenities which include an outdoor infinity pool, rooftop lounge, kids’ craft room, pet wash, games room, as well as a full dining room complete with a catering kitchen.
Station Place is conveniently located directly adjacent to Kipling GO station, providing tenants immediate access to downtown Toronto and all other submarkets throughout the GTA. In addition, the Gardiner Expressway and 427 are close by and residents are not far from Six Points Park and other green spaces. Restaurants and shopping are all within proximity making this a great location for residents to call home.
Centurion President and CEO Greg Romundt commented, “This new property is in a great Etobicoke location with lots to offer. The central location provides easy access to public transportation with retail amenities within proximity, so residents never have to go far. With ample green space and modern amenities within reach, this makes for a great family-friendly atmosphere.”
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