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."