3rd Quarter 2018 Newsletter
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Welcome to the third quarter edition of The Centurion.
Together with SVN Canada, we are thrilled to share the introductory video of Greg Romundt's 10-part interview on
Lessons in Life and Business from the Tsunami
. See the article below and sign-up to receive Lessons 1 through 9 in your inbox.
In this issue, we also share Greg's upcoming participation as one of the panelists during Toronto's Real Estate Forum in November as well as key fund updates and senior appointments.
Finally, here's a reminder about a convenient online statement access available at
centurion.ca
.
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Experience the convenience of accessing your accounts online any time at
centurion.ca
by selecting INVESTOR LOGIN at the top right hand corner
.
You will need you web access identification number and account number for the initial login. The web access identification number is located at the top right-hand corner of the first page of your statement.
Once registered, you will only need your email address and password to access your accounts. Online account access is easy, convenient, and good for the environment.
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Lessons in Life and Business
from the Tsunami
By: Mr. Greg Romundt
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In this exclusive interview by SVN Rock Advisors Inc. Brokerage CEO and Broker of Record Derek Lobo, Centurion President and CEO Greg Romundt shares one of the most trying times in his life, and the one that has had the most profound impact on his outlook in life and influenced how he manages money.
The videos are adaptations of Greg's original Lessons in Life and Asset Management from Surviving the 2004 Tsunami article written in 2015 to honor the 11th anniversary of the disaster that claimed an estimated 230,000 lives. It is a story of the power of coincidences, and how one event can lead to things going in completely different directions than anticipated.
We are excited to share the introductory video of the series. Sign up to have Lessons 1 through 9 delivered to your inbox!
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Centurion Apartment Real Estate Investment Trust ("REIT")
- The REIT NAV as at November 1, 2018 is $15.371, which represents a YTD unit price appreciation of 11.0%.
- The REIT's YTD return is 17.06% and the trailing 12-month return is 17.65% on its Class A Units as at November 1, 2018.
- The current annualized yield for Class A Unit cash distributions is 5.33% and 6.05% for Class F cash distributions.
- The construction, completion, and lease up of a new building in Kitchener added 80 new suites to an existing 13-acre, 360-suite community.
- Three apartment buildings for which the REIT has a first right of purchase offer are nearing completion for end of Fall 2018.
- Portfolio property vacancy rates continue to remain at record lows at less than 1.2%.
- Rent-to-market-rent gap is at 15.3%, the highest in the firm's history, portending to strong future rent pricing power.
Centurion Real Estate Opportunities Trust ("REOT")
- The REOT NAV as at November 1, 2018 is $ 11.662, which represents a YTD unit price appreciation of 3.4%.
- The REOT's YTD return is 9.41% and the trailing 12-month return is 11.40% on its Class A Units as at November 1, 2018.
- The current annualized yield for Class A Unit cash distributions is 6.00% and 6.86% for Class F cash distributions.
- REOT is enjoying exceptional deal flow and has several hundred million in loan term sheets out for consideration.
Centurion Financial Trust ("CFIT")
- The CFIT NAV as at November 1, 2018 is $10.551, which represents a YTD unit price appreciation of 2.6%.
- CFIT's YTD return is 9.21% and the trailing 12-month return is 11.02% on its Class A Units as at November 1, 2018.
- The current annualized yield for Class A Unit cash distributions is 6.63% and 7.58% for Class F cash distributions.
- The portfolio is split between its investment in real estate debt or mortgages (69%) and investments into non-real estate, corporate private debt (31%).
- CFIT completed a successful financing in the form of convertible debt in October.
CFIT’s positive performance was supported by two successful exits that provided strong investment returns. CFIT earned incremental syndication revenue from successfully nurturing Co-Investor relationships.
- Achieved an IRR of 15.19% on a $6.25-million senior debt financing. The total amount of the CFIT-led financing was $13.5 million, with CFIT successfully syndicating $7.25 million to two Co-Investors; and,
- Achieved an IRR of 26.72% on an $8-million mezzanine debt financing. The total amount of the CFIT-led financing was $17 million, with CFIT successfully syndicating $9 million to two Co-Investors.
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Greg Romundt at the Toronto Real Estate Forum
Centurion President and CEO Greg Romundt will be one of the panelists on the topic "The Apartment Market Continues to be Buoyant: Solid Returns, Sustainable Demand, and Purpose-Built Rental" at the Real Estate Forum (REF), which will be held on November 28-29 at the Metro Toronto Convention Centre. The REF is Canada’s largest annual national conference on real estate investment and management topics. This year's event will feature leading commentators, presentations, and interactive panel discussions with over 130 well-known experts and practitioners from across Canada, the U.S., and other countries.
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Henryk Gelbert
Director, Mortgage Investments and Joint Ventures
Mr. Henryk Gelbert has over 12 years of experience in real estate investments and lending with a focus on all asset classes in North America and Europe. Prior to joining Centurion, he was a key contributor to Timbercreek’s debt investment group, where he led the underwriting and execution of transactions, managed partner relationships, and originated nearly $100 million of new loans in 2018, consisting primarily of value-add and short-term bridge opportunities. Before Timbercreek, Mr. Gelbert worked in Private Equity Real Estate at Heitman in London, UK and with Oaktree Capital in Frankfurt, Germany, where he was responsible for sourcing, analyzing, structuring, and completing due diligence on new real estate acquisition opportunities. Mr. Gelbert holds a Bachelor’s degree in International Business from the European Business School (EBS) and a Master’s degree in Business from Ecole Superior de Commerce Paris (ESCP).
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For more information about our products, please contact your advisor.
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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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