Centurion Apartment REIT Announces the Acquisition of Phase I of a Multi-Residential Portfolio in Gatineau, Québec
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, is pleased to announce the acquisition of Phase I of a three-phase, multi-residential apartment portfolio called NOX, located at 350-380 Boulevard de l’Amérique-Française in Gatineau, Québec.
The NOX portfolio consists of seven mid-rise, multi-residential apartment buildings constructed in three phases. Phase I, totaling 277 units, was completed in October 2022. Phase II, totaling 158 units and Phase III, totaling 99 units are set to be completed early this year.
Each building is 7-storeys high and offers a variety of suite types including studio, one-bedroom, one-bedroom with a den, one-bedroom with a den plus mezzanine, two-bedroom, and two-bedroom plus mezzanine units. The suites have a modern design with high-quality finishes and plenty of natural light. Each suite features a private outdoor terrace, in-suite laundry, and stainless-steel appliances. Amenities include a shared rooftop terrace, a gym, swimming pool, hot tub, a relaxation lounge, and pet wash facilities. The properties also offer ample indoor and outdoor parking options.
“We are thrilled to be adding NOX Phase I to our growing Québec portfolio,” commented Greg Romundt, Centurion President and CEO. “The strategic location and exceptional construction of this property will help in meeting the rental demands of the rapidly growing Gatineau-Ottawa region.”
NOX is located in Gatineau’s Le Plateau neighborhood, a short walk from Central Park with 26 acres of green space and hiking and biking trails. It’s close to public transit and highways, and a quick 10-minute drive to downtown Ottawa. The property is conveniently situated near Agora Urban Village, an urban mixed-use development offering an array of retail, entertainment, grocery and lifestyle options, including boutiques, food markets, cafes, pharmacies, and health clinics.
The Le Plateau area offers the great variety of activities, leisure and recreation as well as access to a full range of services, amenities, and proximity to work. The strong locational attributes will keep boosting the rental demand in the area to directly benefit the portfolio.
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