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

January 10, 2020

Centurion Apartment REIT Announces the Pending 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 the pending acquisition of a newly constructed multi-residential property in Kelowna, British Columbia. The anticipated closing date for this transaction is in September 2020.

 

The property is located at 333 Drysdale Boulevard in Kelowna’s highly desirable Glenmore neighbourhood. Set for completion in Spring 2020, this brand-new development comprises three, five-storey residential buildings offering 175 suites with a mix of studio, one-bedroom, and two-bedroom units. The suites will feature quartz countertops, luxury vinyl flooring, stainless-steel appliances, and large ensuite bathrooms. A number of units will even feature two balconies.

 

Trio residents will 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 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.”

 

For media inquiries, please contact communications@centurion.ca.