Welcome to the first edition of The Centurion for 2021.
In this issue, we share our Great Place to Work® Certification and upcoming Best Workplace™ in Canada recognition. Additionally, our very own Laura Salvatore was featured on the 2021 HRD Global 100 list.
We're also excited to share that one of our recent acquisitions in Quebec made it to the top 10 biggest CRE transactions list by RENX. Finally, we share Centurion's new and pending acquisitions, and provide some updates about the two funds.
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Centurion to be recognized as a Best Workplace™ in Canada
Last December, Centurion was certified as a Great Place to Work® after a thorough and independent analysis conducted by Great Place to Work® Institute Canada. The certification is based on direct feedback from our employees, provided as
part of an extensive and anonymous survey about their workplace experience.
Fast forward to this year, Centurion will be recognized as one of this year’s Best Workplaces™ in Canada. The full list will be announced the week of April 13th and will appear in a Special National Report of The Globe and Mail on Friday, April 16, 2021.
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We're also proud to have our very own Associate Vice President for Human Capital Laura Salvatore featured as one of HRD’s annual Global 100, comprising the best and the brightest leaders in the human resource sector from six markets — United States, Canada, Australia, New Zealand, Asia-Pacific, and the UK. Laura’s expertise and genuine passion for human capital management and development resulted in the realization of several initiatives that led to higher employee engagement and satisfaction. Together with her team, Laura has strengthened Centurion’s corporate culture, ensuring that it extends beyond the head office to all Centurion on-site teams across Canada.
Visit the News section of our website to read more about our exciting news.
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Centurion Apartment REIT Acquisition featured on top 10 biggest CRE transactions list
Centurion's multi-family property Le Art in Montreal, made it to the top 10 biggest CRE transactions of 2020 by Real Estate News Exchange (RENX). This is one of many exciting new acquisitions Centurion Apartment REIT had in 2020.
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The merger of Centurion Real Estate Opportunities Trust (the "REOT") with Centurion Apartment Real Estate Investment Trust (the “REIT”) took effect on January 1, 2021. The merger will allow the continuing Trust to take better advantage of the current and mutually complementary nature of the business of each Trust by capitalizing on certain efficiencies and economies of scale achieved by combining the assets of the two trusts, thereby lowering the overall costs of the continuing Trust. Centurion REOT Units were converted into Centurion Apartment REIT Units at the December 31, 2020 Net Asset Value of the REIT.
Centurion REIT temporarily capped new subscriptions as of January 4, 2021 but remains open for redemptions and continues to make scheduled distributions. The REIT will continue to search for accretive investment opportunities and hopes to re-open to new subscriptions after existing capital has been deployed.
Centurion Asset Management Inc. also announced that a Bonus Distribution was paid to unitholders of Centurion Financial Trust ("CFIT") as at December 31, 2020. The Bonus Distribution of $0.094/unit was paid in units on December 31, 2020 to unitholders of record as at December 31, 2020. As a result, the Net Asset Value for CFIT was reduced by the Bonus Distribution to $10.190/unit. CFIT is currently open for investment.
Find these announcements in the News section of our website for more details.
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Here are the latest investor resources for each fund. You can also visit each fund's page on Centurion.ca for additional information and archived versions of the financial reports.
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Another Significant Quarter for Centurion
2020 was a significant year for Centurion and we anticipate 2021 to be even better. Over the past six months, Centurion Apartment REIT has added four properties to its portfolio with four pending acquisitions. Since our last newsletter, we acquired the below four properties totaling 381 rental units. Within the next three to six months, we anticipate closing 676 rental units.
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Two brand-new multi-residential properties in Montreal, Québec. Le Art is in the heart of Montreal, just 10 minutes away from La MARQ – Centurion’s student property. Le Art offers five loft suites, one-bedroom, two-bedroom, and three-bedroom suites atop 8,675 feet of commercial space. Le Montefiore is situated within Côte Saint-Luc in Montreal and is within walking distance to Quartier Cavendish. This luxury property offers studio, one-bedroom, two-bedroom, and penthouse suite options in a mature residential area. Centurion has acquired 100% interest in both properties.
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A student housing property in Waterloo, Ontario. 18 James Street is located adjacent to the other The MARQ Waterloo buildings and offers 30 fully furnished, five-bedroom units (totaling 150 beds). The acquisition brought Centurion's Waterloo portfolio to six properties and 1,506 rental units. Centurion has acquired a 100% interest in this property.
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A brand-new multi-residential property in Langford, British Columbia. Hedstrom House is one of Langford’s newest apartment buildings and is situated between Goldstream Regional Park and Westshore Town Centre. The property offers spacious studio, one, two, and three-bedroom suites. This transaction brought Centurion's Langford portfolio to seven properties and 501 rental units. Centurion has acquired a 100% interest in this property.
See below for property maps or click the photos to view the announcements.
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Anticipated Closing: 3/26/2021
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Anticipated Closing: 3/26/2021
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Anticipated Closing: 3/26/2021
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Anticipated Closing: 4/30/2021
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Anticipated Closing: 8/15/2021
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Anticipated Closing: Spring 2024
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For investor management inquiries, please contact or Investor Administration team:
Toll-Free: 1-833-733-5617
Tel: 416-733-5617
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Follow us on Twitter and LinkedIn for more investment updates. |
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