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

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the acquisition of a newly constructed multi-residential property in Kelowna, British Columbia. The property is 80% leased on the closing date of the transaction.

TRIO is located at 333-337 Drysdale Boulevard in Kelowna’s highly desirable Glenmore neighbourhood. This brand-new development comprises three, five-storey residential buildings offering a total of 175 suites with a mix of studio, one-bedroom, and two-bedroom units. The suites feature quartz countertops, luxury vinyl flooring, stainless-steel appliances, and large ensuite bathrooms. A number of units even feature two balconies with breathtaking views.

TRIO residents have access to an amenity room, outdoor play field, barbecue and picnic area, bike parking, and additional storage. The property’s prime location provides easy access to downtown as well as to Kelowna International Airport and the University of British Columbia Okanagan campus, via the newly constructed John Hindle Drive. It is also walking distance from the Kane Road commercial hub, which features grocery stores, a pharmacy, restaurants, and other retail stores.

Centurion President and CEO Greg Romundt comments, “Kelowna is one of the fastest-growing metropolitan areas in the country. Centurion is well-positioned to leverage this growth and meet the city’s diversifying rental needs. We are thrilled to add this new apartment community to our portfolio.” (map)

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