Centurion Apartment REIT Announces Pending Acquisition of 28 Suite Apartment Building in Toronto

September 25, 2012

Centurion Apartment REIT is pleased to announce the pending acquisition of a 28 suite apartment property in Toronto. The property is a 3.5 story elevatored building located at 1594 Victoria Park Avenue in Toronto. The acquisition price is expected to close on or about 25 October 2012 and will befinanced by a combination of cash and working capital facilities. The property is located immediately beside the REIT's portfolio on Biggin Court (see map below) and will be operated as part of this portfolio.

Map of Location and other REIT holdings in the area

Update: The property was acquired and the transaction closed on 8 November 2012.