Centurion Apartment REIT Announces Pending Acquisition of 404 Rental Unit Portfolio

Centurion Apartment REIT is pleased to announce the pending acquisition of a portfolio of 404 rental suites comprised of 218 apartments in Toronto and 186 apartments in Mississauga. The 218 apartment suites in Toronto are located at 5 Dufresne Court close to Centurions other properties in the area, bringing the total number of suites in the Don Valley Pkwy & Eglinton node to 935 (in 14 buildings). The 186 apartment suites in Mississauga are located at 275 North Service Road (82 suites) and 1175 Dundas Street West (104 suites).

Upon completion, the REIT's portfolio will include interests in more than 4,200 rental units in 17 communities in Canada.

The transaction is expected to close on or about 23 January, 2013.

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Update: The transaction closed on 23 January, 2013