Centurion Apartment REIT Announces Pending Acquisition of 60 Suite Apartment Building in Toronto
Centurion Apartment REIT is pleased to announce the pending acquisition of a 60 suite apartment property in Toronto. The property is a 6 story elevator serviced building located at 6 Grandstand Place in Toronto. The acquisition price is $5.950 million ($99,167/suite) and is expected to close on or about 15 December 2011. The acquisition will be financed by a combination of cash and working capital facilities.
Update: The property was acquired and the transaction closed on schedule as of 15 December 2011.