Centurion Apartment REIT Announces the Partnership, with Toronto Metropolitan University, into a Student Housing Property in Toronto, Ontario
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, in partnership with Toronto Metropolitan University (formerly Ryerson University), is pleased to announce the acquisition of a newly constructed, high-rise, multi-residential student property located at 288 Church Street in Toronto, Ontario.
The Property serves as a residential component of a larger mixed-use development called the Daphne Cockwell Health Sciences Complex (“DCC”) which was constructed by Toronto Metropolitan University in 2019 and consists of combination of residential, academic, and commercial uses. Centurion’s partnership is concentrated exclusively on the residential tower of the DCC, comprised of 18 floors with a total of 332 beds across 1-bedroom, 2-bedroom, and 4-bedroom apartments.
The DCC is located in the heart of downtown Toronto, around the corner from the bustling Yonge-Dundas Square. The prime location offers students a multitude of job opportunities, a diverse food scene, an excellent public transportation system, a rich cultural atmosphere with museums, galleries, and events, and an array of recreational activities, including parks, sports, theaters, music venues, and student-focused organizations.
Following its completion in 2019, the DCC quickly earned the 2021 Best Tall Mixed-Use Building designation from the Council of Tall Buildings and Urban Habitat (CTBUH) – a distinction recognizing extraordinary contributions to the advancement of tall buildings, the urban environment and sustainability. The award-winning mixed use development complex provides a central hub with academic and administrative spaces on the first 8 floors and a residential tower on the top 18 floors. The building has state of the art finishes and excellent amenities for students, featuring study lounges, central laundry facilities, and a spacious community area.
“We are thrilled to be partnering with Toronto Metropolitan University on this investment, while offering students a prime location and state of the art building to support their academic and personal growth.” said Greg Romundt, President & CEO of Centurion Asset Management.
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