Centurion Apartment REIT Announces the Pending Acquisition of an Apartment in Mississauga, Ontario. (Update: Acquisition Successfully Closed)
March 7, 2016
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the pending acquisition of 285 North Service Road in Mississauga. Currently, Centurion owns 275 North Service Road across the street; making this sister property a strategic acquisition.
The apartment is a well-maintained 81-suite multi-residential building with a balanced mix of 34 one-bedroom, 41 two-bedrooms, and six two-bedrooms plus den suites. This 7-storey building includes above ground parking and a large fenced-in playground area with swings, slides, basketball nets, asphalt play area, sand box and picnic tables.
The apartment is very well-situated for motorists, with close access to arterial roadways and major highways. Within a 20-minute drive, residents can access the 427, 401, 407, 403, the Queen Elizabeth Way (QEW), and Gardiner Expressway. For intercity driving, the property has good access to Hurontario Street, Cawthra Road, North and South Service Roads, and the Queensway, which are all major thoroughfares in the City of Mississauga.
For more information about Centurion Asset Management Inc., Centurion Apartment REIT, Centurion Real Estate Opportunities Trust, Centurion Property Associates or The MARQ, visit us online at www.centurionreit.com.
Upon the completion of this acquisition, the REIT’s portfolio in Mississauga will increase to 270 rental units.
This acquisition is expected to close on March 18, 2016.
Update: The acquisition closed successfully on March 18, 2016.