Closed the Acquisition of Centurion Apartment REIT's First Multi-Residential Apartment Property in Manitoba

July 2, 2019

Closed the Acquisition of Centurion Apartment REIT's First Multi-Residential...

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the purchase of a 50% interest in a multi-residential property in Winnipeg, Manitoba. This transaction is Centurion’s first acquisition in Manitoba.

Located at 701-721 Sterling Lyon Parkway, the Summit at Seasons is a luxury apartment complex consisting of five new buildings with 416 units and a 3,200-square-foot clubhouse with fitness facilities, tenant lounge, and café-like study room. The suites feature a modern living space with luxury vinyl flooring, full-size appliances, and in-suite washer and dryer.

The property is in the Tuxedo neighbourhood in southwest Winnipeg, adjacent to the Outlet Collection shopping centre and IKEA. It is close to numerous restaurants, entertainment outlets, and parks and recreation areas. The Summit at Seasons is ideally positioned for those seeking convenient access to lifestyle-enriching amenities.

Centurion President and CEO Greg Romundt shares "We are excited about this new acquisition that would further increase Centurion’s footprint in the Prairies. This provides us an opportunity to take advantage of Winnipeg’s strong rental market and improving economy.”

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