Welcome to the first edition of The Centurion for 2020.
In this issue, we share
Mr. Greg Romundt's interviews with BNN Bloomberg and Wealth Professional Canada on Canadian real estate market trends. We also share the proactive measures we are taking as an organization to help stop the spread of COVID-19. Lastly,
we share our completed and pending acquisitions since December, as well as
the latest updates about Centurion's three funds.
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“
We know that the months ahead will be a challenging time for all Canadians, but we believe that we have positioned ourselves to prosper and that we will find many opportunities once the market calms down a little.
”
Centurion President and CEO Greg Romundt provides an update on Centurion Apartment REIT, Centurion REOT, and Centurion Financial Trust in light of the current COVID-19 crisis.
Click
here
to read
the update.
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“As an industry nationally, we’re going to build as many apartments in the next 10 years as we’ve built in the last two generations.”
- Greg Romundt, Centurion Asset Management
Centurion president and CEO Greg Romundt speaks with Wealth Professional Canada about why he thinks rental developments are the next big thing in Canadian real estate based on current market trends.
Click
here
to read
the full interview.
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Apartments in Canada with Centurion founder Greg Romundt on BNN Bloomberg's Weekly with Andrew McCreath
Centurion President and CEO Greg Romundt was once again invited to speak with Andrew McCreath about Canadian real estate. Click
here
for details.
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Massive Edmonton apartment deals boost city's multi-family market
Western Investor talks about the opportunities in Edmonton and how Centurion helped boost the city's multi-family residential market by acquiring a portfolio of properties for $205 million. Click
here
for the full article.
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Another Outstanding Quarter for Centurion
Last year was an exciting year for Centurion and we anticipate 2020 to be even better. In the past couple of months, Centurion Apartment REIT has announced eight completed acquisitions, three pending acquisitions, and several more coming up in 2020.
Here is a combined summary of completed and pending acquisitions that Centurion has announced so far.
- An apartment portfolio in Edmonton, Alberta. Mayfair on Jasper, Oliver Place, Grand Central Manor, and Riverside Towers are high-rise properties located in Central Edmonton. All properties, with the exception of Grand Central Manor, have over 63,000 square feet of commercial space combined. These new acquisitions brought Centurion's portfolio to six properties with 1,278 rental units in Edmonton. Centurion has acquired a 100% interest in these properties.
- Two newly constructed properties in Langford, British Columbia. Hockley Corners features 63 residential units with underground parking and optional out-of-suite storage. The Arc is a purpose-built rental apartment situated at 2849 Bryn Maur Road, adjacent to six other Centurion properties along Hockley Avenue. Centurion has acquired a 100% interest in both properties.
- Two upcoming properties under construction in Surrey and Kelowna, British Columbia. Metro Scott Road is located five minutes away from Fusion, another multi-residential property which Centurion acquired in September 2019. Once completed, it will house four 6-storey, luxury rental buildings with 11,867 square feet of ground floor commercial space. The anticipated closing date for phase 1 of Metro Scott Road is in January 2021. TRIO is located at 333 Drysdale Boulevard in Kelowna’s highly desirable Glenmore neighbourhood. Set for completion in Spring 2020, this brand-new development comprises three, five-storey residential buildings offering 175 suites with a mix of studio, one-bedroom, and two-bedroom units. Centurion will acquire a 100% interest in both properties.
- A newly constructed multi-residential property in Regina, Saskatchewan. Completed in May 2019, Apex at Acre 21 is a brand-new development comprising three buildings with a total of 176 suites. The community offers a mix of one and two-bedroom suites with dens and features a 2,400-square-foot Resident Clubhouse that houses a fitness centre, games room, and social lounge. This acquisition will bring Centurion's portfolio to five properties with 571 rental units in Regina. Centurion has acquired a 50% interest in this property.
- A multi-residential property in Baytown, Texas, U.S.A. Oxford at Country Club is Centurion’s third acquisition in the U.S., second in Texas. The property is a wood frame, three-storey, garden-style muti-residential apartment building offering 228 suites with a mix of one, two, and three bedrooms. The suites feature 9-foot ceilings, central air conditioning, balconies, granite counter tops, eat-in kitchens with full-size appliances including microwave and dishwasher, walk-in closets, washer/dryer hookups, and in-suite storage. Centurion has acquired an 85% interest in this property.
- An upcoming apartment portfolio in Guelph, Ontario. The development sits on approximately 15 acres of land located at the intersection of Elmira Road and Paisley Road in Guelph. Preliminary building plans indicate at least 620 units across the buildings, which are up to eight storeys in height. The portfolio will be constructed in three phases and upon completion, will comprise multiple multi-residential apartment buildings and an amenity building. Construction is expected to start in 2020 with estimated completion by Spring 2024. Centurion will acquire a 100% interest in this property.
See below for property maps or click the photos to view the announcements.
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Centurion Apartment REIT Announces the Sale of Deloraine Luxury Apartments in Toronto, Ontario
Centurion Apartment REIT has announced the sale of Deloraine Luxury Apartments (3443 Bathurst Street) in Toronto, Ontario. The property has a total of 23 units and was originally purchased in 2013. Following the sale, Centurion now has 1,138 rental units in its Toronto portfolio. Click
here
to read the full article.
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CENTURION APARTMENT REIT OPENS FOR AN EQUITY RAISE
Centurion Apartment REIT has opened for an equity raise, with the first closing set for April 1, 2020. The REIT will remain open for closings until at least the May 1, 2020 closing date to ensure advisors and investors have enough time to respond. Click
here
for the announcement.
Centurion REOT is temporarily capped for new subscriptions as of March 2, 2020, while
Centurion Financial Trust remains open for investments.
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FUND OVERVIEW
Centurion Apartment Real Estate Investment Trust ("REIT")
- The REIT’s NAV as at March 1, 2020, is $18.896, which represents a unit price appreciation of 1.00% since the start of 2020.
- The REIT's total returns for the year-ended 2019 was 21.79% on its Class A Units and 22.59% on its Class F Units.
- The REIT's trailing 12-month return as at March 1, 2020 was 22.78% on its Class A Units and 23.57% on its Class F Units.
- The current annualized distribution yield for reinvested Class A Units is 4.34% and 4.92% for Class F Units.
- Since December 31 2019, the REIT has acquired 4 properties consisting of 6 buildings located in Alberta and Saskatchewan;
- Rent-to-market-rent gap is 11.68% as at December 31, 2019.
Centurion Real Estate Opportunities Trust ("REOT")
- The REOT NAV as at March 1, 2020, is $11.553, which represents a unit price appreciation of 0.65% since the start of 2020.
- The REOT's total return for the year-ended 2019 is 7.86% on its Class A Units and 8.81% on its Class F Units.
- The REOT's trailing 12-month return for 2020 was 8.57% on its Class A Units and 9.52% on its Class F Units.
- The current annualized distribution yield for reinvested Class A Units is 6.36% and 7.30% for Class F Units.
Centurion Financial Trust ("CFIT")
- The CFIT NAV as at March 1, 2020, is $10.277, which represents a unit price appreciation of 0.05% since the start of 2020.
- CFIT's total return for the year ended December 31, 2019 was 6.27% on its Class A Units and 7.32% on its Class F Units.
- CFIT's trailing 12-month return for as at March 1, 2020 is 6.33% on its Class A Units and 7.38% on its Class F Units.
- The current annualized distribution yield for reinvested Class A Units is 7.18% and 8.24% for Class F Units.
- The portfolio is split as at December 31, 2019, between its investment in real estate debt or mortgages (63%) and investments in non-real estate, corporate private debt (37%).
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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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