Centurion Successfully Surpasses $200 Million Capital Target

Centurion Apartment Real Estate Investment Trust (REIT) is proud to announce the successful completion of its recent strategic growth initiative, launched on June 3, 2024. As of October 1, 2024, the initiative exceeded its $200 million capital-raising target.

Commenting on this achievement, Greg Romundt, Centurion President and CEO, stated:

“Achieving our capital target during the slower summer months amidst a generally uncertain economic climate, uncertainty regarding the Bank of Canada and interest rates, combined with major changes in capital gains tax treatment is a testament to the strength of our strategy and the confidence our investors have in our vision.

While this special strategic growth initiative offer is now complete, the REIT remains open for additional capital as we continue to look to build a war chest to fuel the next phase of our growth, allowing us to invest in high-quality, strategically located assets that align with our vision for long-term value creation. Leveraging our extensive experience in lending, equity investments, and joint ventures, we remain focused on expanding our investment pipeline through new developments and the acquisition of completed assets. These efforts, combined with our commitment to operational excellence, position us to respond swiftly and effectively in a market where rental demand continues to rise, ensuring strong returns and sustained growth as the market evolves. We are poised to act decisively as the market presents favourable opportunities.

We remain committed to contributing to the development of multi-family housing in Canada, addressing the ongoing housing shortage, and leading the way in shaping the rental landscape over the long term.”

For inquiries, please email communications@centurion.ca