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Centurion Apartment REIT announces closing of non strategic property sale

March 11, 2010

Centurion Apartment REIT announces closing of non strategic property sale

On 11 March 2010, Centurion Apartment REIT completed the sale of 215 Belsyde Avenue East in Fergus Ontario for $1,387,500. The property was originally purchased 29 October 2007 at a price of $1,264,500. It was repurchased by the previous owner of the property. Commenting on the sale, Greg Romundt, president of the REIT said : "The property at 215 Belsyde was a consistent performer for Centurion, but as we looked forward, management believed that the scope for further growth through acquisition in Fergus was limited and that a sale was consistent with our growth and clustering strategy which includes the opportunistic disposition of certain non-core holdings."