4th Quarter 2017 Newsletter
We are excited to share the fourth quarter issue of The Centurion for the year 2017.  This issue features the annual commentary by Mr. Greg Romundt and highlights our two new websites. We also share an interview with Greg on RENX, key fund updates, and senior appointments. 

We hope you will enjoy the fourth edition of our newsletter for 2017 and we look forward to sharing more exciting news throughout the year.
Annual Commentary
By: Mr. Greg Romundt
"2017 was our strongest year ever with returns almost triple last year's results in absolute dollar terms."

Centurion President and CEO Greg Romundt reports on the performance of the REIT, the REOT, and CFiT in 2017 and shares his outlook for 2018.  Read more in the Annual Commentary.
  • The REIT recorded a return of 17.3% on its Class A Units as at December 31, 2017.
  • The February 1, 2018 Net Asset Value is $14.040.
  • The Class A Unit distribution yield is 6.13% for reinvested units and 6.97% for reinvested Class F Units.
  • The Fund's consolidated AUM now exceeds $1.3 billion.
  • Vacancies in the entire property portfolio remained at historic lows of less than 1%, with the firm fielding an average of over 100 inquiries for every available unit for rent.
  • Despite strong deal flow, pricing of existing rental apartment stock across Canada was exceptionally expensive precluding the REIT from buying new properties in Q4.
  • The REIT's approximate 20% weighting in the firm's mortgage book (REOT) offered excellent opportunities to deploy capital throughout the year.
  • The REOT recorded a return of 12.51% on its Class A Units as at December 31, 2017.
  • The February 1, 2018 Net Asset Value is $11.658.
  • The Class A Unit distribution yield is 6.3% for reinvested units and 7.23% for reinvested Class F Units.   
  • The Fund's AUM has expanded to just shy of $400 million with currently 80 loans on the books.
  • The REOT continues to benefit from the current real estate environment and saw a record deal flow of $46 million in January 2018.
  • The Fund made its first two loans into the U.S. in Q4 totaling US$15 million.
  • The REOT continues to enjoy equity participation in roughly 20% of its loans.
  • CFiT recorded a return of 9.73% on its Class A Units for the period January 27, 2017 (inception) to December 31, 2017.
  • The February 1, 2018 Net Asset Value is $10.527.
  • The Class A Unit distribution yield is 7% for reinvested units and 8.04% for reinvested Class F Units.
  • The Fund maintained its approximate 50% weighting in the REOT and a 50% weighting in non-real estate corporate debt in Q4.
  • CFiT provided corporate financing in sectors such as elder healthcare, fintech, and alternative energy and power generation. 
  • The Fund was able to fund some larger sourced financing by syndicating a few loans with financing partners throughout the year.
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Interview with Centurion President and CEO Greg Romundt on RENX Property Biz Canada

Centurion President and CEO Greg Romundt shared his vision of the company in 3-5 years. According to Greg, Centurion plans  to reach $3 billion in total assets in three years and $5 billion in five mainly by investing in apartment buildings in the U.S. and increasing its debt investments. In January 2018, the company is just short of $1.5 billion in assets.

Read Greg's full interview here.
Centurion Launches Two New Websites!
There's no better way than to start 2018 with the launch of two new websites!

The all-new  CENTURION.ca  offers a flawless browsing experience with less but more relevant menu options and coherent product groupings. For example, users will find all REIT-related content and materials on one page with shortcuts to other investment resources.  

What's more? The website provides investors quick access to their accounts 24/7 via secure login. Initial login information will be included in the 2018 annual statements. 

Click here to visit the new  CENTURION.ca.

We are just as excited to re-launch 
CPLIVING.com, our residential property management website.

The site was upgraded to provide a seamless and convenient leasing experience to those looking for rental apartments. It offers prospects options to conveniently book an appointment online or via text message, view virtual tours, join the waitlist for unavailable units, and even submit an application online. 

Current residents are also treated to an exclusive Resident Center page where they can submit maintenance requests and complete building or service feedback online. 

Click here to visit the new CPLIVING.com!
The New Investor Login Page on CENTURION.ca
With the launch of the all-new  CENTURION.ca,  all our investors can now access their accounts online 24/7. 

Investors are required to register their accounts the first time they login. They will need their personal Web ID, Account #,  Email, and create a password for the initial login. The web access identification number is located at the top right-hand corner of the first page of the 2018 annual statement, which investors will receive by mail in the coming weeks.

Once registered, investors will only need their email address and password to access their accounts moving forward. A self-serve password reset function is available, when necessary.
John Li
Managing Director, Investments

John has over a decade of debt financing and lending experience to public and private companies throughout Canada and globally, having held a number of lending/credit roles at the Bank of Nova Scotia. Most recently, he managed large commercial and private equity/leveraged finance portfolios, which included structuring, leading, and arranging a variety of senior debt financing structures.
Prior to his time at Scotiabank, John was a Relationship Manager at CIBC Commercial Banking. Earlier in his career, he was a Senior Accountant with Ernst & Young, servicing global clients in a number of industries including real estate, utilities, and manufacturing. 
John is a CPA, CA, and a member of the Charted Professional Accountants of Ontario. He holds an Honours Business Administration degree from the Richard Ivey School of Business at Western University.
For more information, please contact your advisor.
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