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4th Quarter Newsletter * January 2017
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We are delighted to share the fourth quarter issue of The Centurion for the year 2016.
This issue contains detailed information about Centurion Financial Trust and the end-of-year portfolio manager commentary by Mr. Greg Romundt. We also featured our latest student property acquisition in Waterloo, The MARQ's two new websites, and included important fund updates and senior appointments. For your convenience, we've added quick links to our portfolio as well.
We hope you'll enjoy the year-end issue of our newsletter and we look forward to sharing more exciting news in upcoming issues.
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Centurion Asset Management Inc. Launches
Centurion Financial Trust
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Centurion Asset Management Inc. ("CAMI") is pleased to announce the launch of a new investment trust, Centurion Financial Trust ("CFIT"), which will focus on alternative credit investments.
CFiT's investment objectives are to provide investors with income, payable monthly, with the potential for some capital growth from a diversified portfolio of Canadian and U.S. private debt investments. The targeted investments will include but are not limited to, mortgages, senior secured term loans, asset backed loans, bridge loans, subordinated loans, mezzanine loans, royalties, and syndicated loans. CAMI has extensive experience as an alternative lender and recently added additional team members specialized in corporate lending to support the strategy extension.
Click here
to read the full news release.
Centurion President and CEO Greg Romundt shares answers to some of the common questions that readers could have about the new fund.
View Mr. Romundt's Q&A here.
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Click below for full size
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Click below for full size
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Click below for full size
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Annual Portfolio Manager Commentary
by: Mr. Greg Romundt
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"There are a few things on my radar, Trump, Europe, China, and the broader trend towards de-globalization."
Centurion President and CEO Greg Romundt shares valuable insights about the performance of the REIT and the REOT in 2016 and tells us about his outlook for 2017.
Read more in the Annual Portfolio Manager Commentary.
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Centurion Purchases 50% Stake in Waterloo Student Property
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1 Columbia Street West
Waterloo, Ontario
We are
pleased to announce the purchase of 50% interest in 1 Columbia Street West in Waterloo, Ontario. This newly built student housing property was developed and constructed by an external partner of Centurion Real Estate Opportunities Trust.
The apartment is a 22-storey high-rise student housing property with 370 units comprising of 74 five-bedroom suites along with street accessible retail units. Each unit offers ensuite washrooms and panoramic views of the surrounding universities. This property comes with 76 underground parking spaces and includes a social/study room, fitness facility, games room, rooftop patio, theater, and complementary WIFI. The property is conveniently located minutes from the University of Waterloo and Wilfrid Laurier University.
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- The REIT made one acquisition in Q4 - a 50% interest in a new 22-storey student residence in Waterloo, Ontario. Centurion had financed the construction of the property with the developer.
- The REIT added 557 rental units for 2016, 251 of them coming from the REIT/ REOT development pipeline.
- The REOT investment portfolio performed well with an average coupon rate at around 10.2%.
- The REIT raised $ 58 million in capital in 2016.
- The REOT raised $ 45 million in capital in 2016.
- The REIT NAV as of December 1, 2016 was $ 12.589.
- The REOT NAV as of December 1, 2016 was $ 10.699.
- The total return of the REIT is on track to exceed 9% for 2016.
- The total return of the REOT is on track to exceed 14% for 2016.
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Click below for full size
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Click below for full size
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Centurion Launches Two New The MARQ Websites
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We are excited to announce the launch of two new The MARQ websites! With designs inspired by the brand's fun and progressive brand values, both websites showcase The MARQ's safe, clean, and secure student living environments that supports Canada's brightest in becoming Canada's best.
TheMARQ.ca and LaMARQ.ca were designed with the students in mind. Easy navigation, comprehensive information, and user convenience are top priorities. We've added online appointment booking, detailed pricing, and room information, with virtual tours coming in the next couple of months.
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Centurion VP of Sales Paul Mayer at the FENI Summit 2017
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Centurion VP of Business Development and Institutional Sales, Paul Mayer, shared the benefits of investing in private REITs on the second day of this year's Foundation, Endowment, and Not-For-Profit Investment (FENI) Summit held in Toronto. Close to 150 of some of Canada's major charitable and university endowments as well as a select group of fund and service providers were in attendance.
Some major themes discussed at the event were social impact investing, the outsourcing of endowment portfolio management, and diversification strategies to provide consistent return and reduce volatility. A fair number of the participants highlighted real estate and private debt as core components of their institutional portfolios.
Paul spoke about how Centurion's private REIT, whose core investment strategy is to provide low- to mid-income families and students clean, safe, and affordable rental units, can help Canadian charitable institutions both meet their risk/return and social impact investment needs.
Visit centurion.ca to learn more about Centurion's suite of investment funds.
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Dino Fracassi
Director, Corporate Finance
Mr. Fracassi has over 20 years lending experience. covering a wide range of businesses from small private companies to large publicly traded corporations. In his most recent role, he was a key contributor to Scotiabank's Toronto-GTA Structured Commercial Banking team where he managed a loan book of over $500M of assets. Prior to this role, Mr. Fracassi worked at HSBC Bank Canada where he led a Commercial Banking team and helped establish a Leverage Finance team. The Leverage Finance team worked closely with Private Equity Sponsors by providing leveraged credit facilities in support of sponsor backed M&A activity. Earlier in his career, Mr. Fracassi held credit adjudication roles at Credit Suisse Canada and Scotiabank-Global Risk Management.
Mr. Fracassi is a CFA charterholder and a member of the CFA Society Toronto. He holds a Bachelor of Business Administration from Ryerson University.
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For more information, please contact your advisor.
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