Centurion Announces Disposition of Regina Portfolio and Calgary Joint Venture Interest
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Centurion Asset Management Inc. (Centurion) is pleased to announce the successful disposition of 187 units across three properties in Regina, Saskatchewan, as well as the sale of its 50% interest in a 303-unit joint venture property in Calgary. These properties were previously identified as non-core holdings within Centurion’s portfolio.
Portfolio Highlights:
- Regina, Saskatchewan
- Sky Pointe (75 units)
- Madison Manor (64 units)
- Madison Ridge (48 units)
- Calgary, Alberta
- North West Lake Apartments (303 units)
Transaction Highlights:
The sale of the Regina portfolio was facilitated through a top-tier investment advisor, who directed Centurion to a highly qualified buyer, offering the highest price and the cleanest close. The advisor’s assessment was validated through a timely and successful closing that met Centurion’s strategic and financial objectives.
In aggregate, these transactions closed at sale prices within 1% of Centurion’s current Net Asset Value (NAV). The outcomes reinforce confidence in Centurion’s valuation methodology, reflect its commitment to transparency, and provide real-time third-party validation of the strength and accuracy of its NAV approach. It is important to note that neither of these transactions had any impact on the December 1 NAV.
Deployment of Proceeds:
Proceeds from these dispositions will be used primarily to increase Centurion’s liquidity reserves. This ensures an appropriate and responsibly managed level of liquidity throughout the managed redemption period, while markets normalize. This approach supports Centurion’s commitment to prudent capital management, long-term portfolio resilience, and best practice governance for existing investors.
“The sale of these non-core assets reflects Centurion’s continued commitment to disciplined capital management and balance sheet stewardship,” said John McKinlay, President and CEO of Centurion Asset Management Inc. “These transactions strengthen our liquidity reserves, while ensuring we continue to meet our fiduciary responsibilities to all stakeholders.”
“Strategic disposition of non-core assets is one of the many liquidity-raising tools that Centurion is utilizing during our managed redemptions period. We remain focused on executing our strategy thoughtfully and transparently.”
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