The Centurion | 2023 | Winter Edition

Welcome to the Winter Edition of The Centurion! In this edition, you'll find Greg's most recent webinar, our latest acquisition announcements, recent awards, Q3 reports, and an exciting announcement about an increase in unit distributions.

REIT Q3 2023 Report highlights:

Total Assets increased by 11.5% to $6.4 billion during the year.
Property Operating Revenues increased by 21.4% over the same quarter last year.
Net Operating Income (“NOI”) increased by 20.8% to $56.6 million from $46.9 million over the same quarter last year.
Overall Portfolio Occupancy increased to 94.96% as compared to 93.20% over the same quarter last year.
Stabilized Property Occupancy increased to 98.92% as compared to 98.18% over the same quarter last year.
Acquired the second phase of a three-phase, multi-residential apartment portfolio in Gatineau, Quebec, featuring two building comprising of 158 rental units.
Acquired a brand new, multi-residential apartment with 125 rental units in Calgary, Alberta
Trailing 12-Month Class A Return of 7.34%.
Trailing 12-Month Class F Return of 8.30%.

INCREASE IN UNIT DISTRIBUTIONS

November 27, 2023

The Board of Trustees of Centurion Apartment Real Estate Investment Trust (REIT) has approved an increase in annual distributions of $0.12 per unit for the Class A, Class F and Class I Units with the increase taking effect for Unitholders of record on November 27, 2023. Class A cash distributions will be $0.96/Unit/Year and Class F and Class I cash distributions will be $1.16/Unit/Year.

WINTER UPDATE WEBINAR

November 30, 2023

Greg Romundt, President and CEO of Centurion Asset Management Inc., discusses Centurion Apartment REIT's Q3 highlights and addresses some key areas of interest including the increase in annual distributions, Centurion's competitive advantage, the macroeconomic landscape, and current market trends.

Winter 2023 Centurion Apartment REIT Update Webinar

PORTFOLIO MANAGER'S CORNER

The Inflationary Regime Will Be Here for Years to Come - September 1, 2023

In his latest whitepaper, Greg examines the impact of Central Bank interest rate hikes on inflation trends in the short and medium term. He also explores their influence on Canada's housing market, highlighting additional factors exacerbating the housing shortage and contributing to inflationary concerns.

FUND UPDATES

Here are the latest investor resources for each fund as at September 30, 2023. You can also visit each fund's page on Centurion.ca for additional information and archived versions of the financial reports.

Centurion Apartment Real Estate Investment Trust

Centurion Financial Trust

PROPERTY NEWS

COMPLETED ACQUISITIONS

Knox Village, Phase II – December 7, 2023

A new multi-residential portfolio in Kelowna, BC

The Knox Village portfolio consists of four mid-rise, multi-residential apartment buildings constructed in three phases. Phase I, totaling 60 units, was acquired by Centurion in June of this year. Centurion most recently acquired Phase II, totaling an additional 61 units, while construction of the 117-unit third and final phase is set to be completed mid-2024 with closing expected to occur shortly thereafter.

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NOX, Phase III – November 15, 2023

A new multi-residential property in Gatineau, Québec

The NOX portfolio consists of a total of 534 rental units across seven mid-rise, multi-residential apartment buildings, constructed in three phases. Phase III accounts for the final building of the portfolio, containing 99 rental units.

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AWARDS

Laura Salvatore Named Among HRD'S Top 100 Global Human Resources Leaders in 2023

Laura Salvatore, Vice President Human Capital was selected as one of HRD’s annual Global 100, featuring 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.

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Centurion Recognized as One of Canada's Best Places to Work for 2023 by the Canadian HR Reporter

Centurion has been recognized as one of Canada’s Best Places to Work by the Canadian HR Reporter for the second year in a row. The report highlights some of 2023’s Best Places to Work, showcasing companies that stand out as employee-centric workplaces.

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2023 Canadian HR Awards - Canadian HR Team of The Year (Finance/Insurance)

Centurion has been selected as the recipient of Canadian HR Team of the Year (Finance) Award at the 2023 Canadian HR Awards. This award recognizes the HR team within the financial services sector, who has best demonstrated collaborative and innovative HR practices. We extend our gratitude to our talented team for their hard work and dedication.

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