Centurion Apartment REIT has Closed the Acquisition of its Second Multi-Residential Apartment Property in Edmonton, Alberta
July 15, 2019
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce that it has completed the acquisition of a multi-residential property in Edmonton, Alberta.
This high-rise property is situated at 9930 Bellamy Hill Road NW in downtown Edmonton. Beacon Place is an 11-storey apartment building with 82 suites featuring a mix of bachelors, one, two, and three-bedroom units. The suites have spacious living areas with modern finishes, full-size appliances, and surface or covered parking options.
The building is situated just south of Jasper Avenue, Edmonton’s main thoroughfare and public transit route. It is close to the city’s Government District, Business District, ICE District, and the scenic Edmonton River Valley, as well as numerous restaurants, retail shops, and entertainment amenities throughout the downtown core.
Centurion President and CEO Greg Romundt shares, "The acquisition of this property is beneficially timed to capitalize on the resurgence of the Edmonton economy. It provides Centurion an opportunity to benefit from improving economic conditions in a non-rent-controlled market.”
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