Welcome to the Summer Edition of The Centurion! In this edition you'll find our Q1 2024 reports, recent update webinar, Greg's latest thought piece, and our recent strategic growth initiative offering a 2% non-dilutive discount to Net Asset Value (“NAV”) for all new subscriptions.

REIT Q1 2024 Report highlights:

Total assets increased by 2.6% to $6.8 billion during the year.
1 property with 86 undiluted rental units was acquired.
Property operating revenues increased by 11.0% as compared to the same quarter last year.
Total same store operating revenues increased by 6.8% as compared to the same quarter last year.
Net operating income (“NOI”) increased by 15.1% to $59.9 million from $52.1 million as compared to the same quarter last year.
Overall portfolio occupancy increased to 95.43% as compared to 93.50% in the same quarter last year.
Stabilized property occupancy increased to 98.71% as compared to 97.40% in the same quarter last year

2024 Returns as at June 1st, 2024

Class A Return of 4.03%
Class F Return of 4.41%.

SUMMER 2024 UPDATE WEBINAR

In this 42-minute webinar, Greg covers Q1 updates, the current state of the multi-residential apartment sector, the Bank of Canada's recent rate cut, and Centurion's new strategic growth initiative.

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GREG'S INSIGHT ON WHY OFFICE CONVERSIONS ARE NOT THE SOLUTION TO THE HOUSING CRISIS

Today, as the discourse of repurposing office spaces into multi-residential units gains momentum, Romundt's perspective offers a sobering reality check.

While the potential seems promising to address housing shortages and revitalize urban cores, Romundt argues that the conversion process has many challenges that make it a far less viable solution than it appears on the surface.

CENTURION ANNOUNCES STRATEGIC GROWTH INITIATIVE: OFFERING 2% NON DILUTIVE DISCOUNT ON NET ASSET VALUE FOR NEW SUBSCRIBERS

As at Monday June 3, 2024 trade date, Centurion Apartment Real Estate Investment Trust (REIT) will be offering a 2% non-dilutive discount to Net Asset Value (“NAV”) for all new subscriptions up to and including August 1, 2024, or until our targeted allocation of $200,000,000 is reached. Centurion Asset Management Inc. will pick up the cost of this discount by waiving asset management fees for a period of two years on the capital raised.

Investors: If you have any questions or require further clarification, please reach out directly to your investment advisor.

CENTURION RECOGNIZED FOR TWO WEALTH PROFESSIONAL AWARDS

Centurion is proud to announce we have been recognized in two categories at the 2024 Wealth Professional Awards: Alternative Investment Solutions Provider of the Year and CEO of the Year. Centurion was also honored to be recognized as a finalist in the Employer of Choice category.

FUND UPDATES

Here are the latest investor resources for each fund as at March 31, 2024. 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

AWARDS AND RECOGNITION

Robert Orr Recognized as One of the Top 25 CFO's in Toronto

We're proud to share that Centurion's Chief Financial Officer, Robert Orr, has been recognized as one of the Top 25 CFOs in Toronto!

Robert's leadership is core to Centurion's financial integrity and strategic direction. His focus on internal controls, regulatory compliance, quality financial reporting, stakeholder communication, and strategic planning drives our success every day.

Congratulations, Robert, on this well-deserved recognition!

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Centurion Recognized as a Best Place to Work for 2024 by HRD Canada

Centurion is proud to announce that we have been recognized by HRD Canada as one of Canada’s Best Places to Work for 2024! This marks our third consecutive year receiving this prestigious award, a testament to the dedication and feedback from our incredible Employees.

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