3rd Quarter 2017 Newsletter
Welcome to the third issue of The Centurion for 2017. In this issue, President and CEO Greg Romundt talks about Centurion Apartment REIT's spectacular year-to-date performance and shares a comparative analysis between our funds and the traditional investments that are available today.

This issue also provides an update on the resolutions that were passed during the Annual General Meeting in September as well as exciting updates about our three investment funds. In corporate news, we share a WealthProfessional interview with Mr. Romundt and his participation in various industry events. 

We hope you will enjoy the third edition of our newsletter for 2017 and we look forward to sharing more exciting news in upcoming issues.
A Spectacular Year So Far
for Centurion Apartment REIT
By: Mr. Greg Romundt
With merely three months to go, Centurion Apartment REIT has earned more than twice of what it earned in all of 2016. On a trailing twelve-month ("TTM") basis, we have increased top line revenues by about 6.86%, increased same store Net Operating Income ("NOI") by 10.04%, and increased our NOI ratio to 63.86% from 62.01% in the same period last year. These results were driven by various factors.  Centurion President and CEO Greg Romundt discusses these factors in detail.

Click here to view Mr. Romundt's article.
An Analysis of Centurion's Fund Returns
vs. the Market's
By: Mr. Greg Romundt
Our team conducted a comparative analysis of how our funds have performed against the broader market. Centurion Apartment REIT and Centurion REOT were compared with traditional investments such as Canadian Government Bonds, High Yield Corporate Bonds, and Canadian publicly traded REIT's based on investment returns, volatility of returns, and diversification.

Centurion Apartment REIT
and Centurion REOT
Annual General Meetings
The Annual General Meetings (AGMs) for Centurion Apartment Real Estate Investment Trust ("REIT") and Centurion Real Estate Opportunities Trust ("REOT") was held in Toronto on September 19, 2017.
During the AGMs, the resolutions to permit the REIT to invest in the United States and to eliminate the REIT's 20% limit on mortgage investments passed with 96% and 92% unitholder support, respectively.

Centurion appreciates all investors who attended the meetings or participated via proxy.

  • The REIT NAV as at November 1, 2017 is $13.849, representing a YTD unit price appreciation of 10.01%. (December 31, 2016: $12.589)
  • In addition, the current annualized yield for A Class units is 6.21% and 7.07% for F Class units.
  • Portfolio rents have been rising strongly. 94.5% of the portfolio's apartments and student units are stabilized with a current occupancy rate of over 99%.
  • The REIT is anticipating a full-year NOI margin of over 64% for 2017.  
  • 2017 is set to be a record year. YTD Net Income and Comprehensive Income is already more than double 2016's full-year results with three more months to go.
  • The REOT NAV as at November 1, 2017 is $11.277, representing a YTD unit price appreciation of 5.40%. (December 31, 2016: $10.699)
  • In addition, the current annualized yield for A Class units is 6.52% and 7.48% for F Class units.
  • The REOT's AUM is $305 million.
  • The CFiT NAV as at November 1, 2017 is $10.283, representing a YTD unit price appreciation of 2.83%. (February 1, 2016: $10.00)
  • The annualized current yield for A Class units is 7.17% and 8.24% for F class units.
  • The portfolio is invested approximately 50% in mortgages and 50% in corporate debt.
  • Two senior hires have been made that will join the team in the next few months.
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Our President and CEO Greg Romundt on WealthProfessional.ca
Our very own President and CEO Greg Romundt was interviewed by Wealth Professional on alternative investment opportunities such as Real Estate Investment Trusts (REITs). In the article, Mr. Romundt talks about the benefits of REIT investment and why it is an integral part of an investment portfolio.  Read the full interview here.
Industry Events with Centurion President and CEO Greg Romundt
Casgrain & Company Municipal Conference
October 24, The Albany Club of Toronto

Last week, Greg Romundt participated in a discussion on the role that student residences play in attracting students and maintaining budgetary flexibility of universities. The panel also touched on the financing and investment opportunities in student housing. Moody's Adam Hardi,  Textbook Suites' Walter Thompson, and University of Toronto's Gilbert Delgado were among the panelists.

Casgrain & Company's Municipal Conference was held to familiarize issuers with trends in debt capital markets and provide insights from the investor community and rating agencies.
1st Annual NEMA Conference
October 19, The Design Exchange

Centurion is thrilled to have been a part of the National Exempt Market Association's (NEMA's) first annual conference. The inaugural event focused on Strategies for Building Wealth through Private Investment Offerings.

During his keynote, Greg Romundt talked about exciting trends and opportunities in the private investment market. He also shared what investors should look for when considering private investments. 

September 7, Metro Toronto Convention Centre

In its 14th installment, the RealREIT conference focused on the current and future state of the REIT sector with valuable insights from the perspectives of senior REIT executives, portfolio and investment managers, real estate analysts, and other key intermediaries. 

Centurion President Greg Romundt was a panelist on the apartment market discussion, which covered occupancy rates in major markets across the country, new apartment construction, niche markets such as senior housing and student residences, impact of recent regulatory changes to rent control legislation in Ontario, and challenges that the apartment market will face over the next few years.
Centurion Supports The Terry Fox Run
On September 17, Centurion employees participated in the Terry Fox Run at Canoe Landing Park. Centurion has supported the Foundation since 2012 and this year, our staff raised more than twice of what was raised last year. 
Founded in 1981, the Terry Fox Run is an annual non-competitive charity event held in over 9,000 communities across Canada with the goal of raising funds for cancer research
For more information, please contact your advisor.
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