Centurion Apartment REIT has Closed the Acquisition of a Newly Built Multi-Residential Apartment Property in Victoria, British Columbia

August 7, 2019

Centurion Apartment REIT has Closed the Acquisition of a Newly Built Multi-Residential...

Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the acquisition of a multi-residential property in Victoria, British Columbia. This new acquisition brings Centurion's portfolio to seven (7) properties and 365 rental units in the Greater Vancouver Area.

The 5-storey property is situated at 433 Boleskine Road in uptown Victoria. Completed in April 2019, Verve houses 95 residential units, one commercial unit, and two levels of secured underground parking. It offers a mix of bachelors, one, and two-bedroom rental units. The suites feature 9-foot ceilings, patio/balcony in each suite, full-size appliances, in-suite laundry, and optional out-of-suite storage and bicycle storage.

The property is conveniently located steps to everyday shopping and dining experiences, public transportation, supermarkets, and the Galloping Goose Trail, and mere minutes to downtown Victoria. The building was built to a “Green Standard” and was awarded the Silver Certification by Built Green Canada for energy conservation and efficiency.

Centurion President and CEO Greg Romundt shares, "The addition of this property further builds on Centurion’s footprint and economies of scale in Victoria, B.C. (map) This expansion will favourably position Centurion to benefit from the growing rental demand in Victoria.”

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