4th Quarter 2018 Newsletter
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We are delighted to share Centurion's Q4 newsletter for 2018. This issue features the 2018 annual commentary by Centurion President and CEO Greg Romundt and some recent interviews with Greg Romundt by
Commercial Real Estate Library and US-based
CapRate Events.
It has been an exciting year for Centurion. We have important property news about Centurion Apartment REIT's recent acquisitions, as well as some information about the 2018 Bonus Distribution for Centurion REOT and Centurion Financial Trust.
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Annual Commentary
By: Mr. Greg Romundt
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"All told, 2018 was even stronger than 2017, which at the time, was our best year ever."
Centurion President and CEO Greg Romundt reports on the performance of Centurion Apartment REIT, Centurion REOT, and Centurion Financial Trust in 2018 and shares his outlook for 2019.
Read more in the Annual Commentary.
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2018 Bonus Distribution
Following a very successful year, Centurion Asset Management Inc. is pleased to announce that a Bonus Distribution was paid to unitholders of Centurion Real Estate Opportunities Trust ("REOT") and Centurion Financial Trust ("CFIT") as at December 31, 2018. This Bonus Distribution was paid in units. As a result, the Net Asset Value price for each Trust was subsequently reduced by the bonus amount.
REOT
A 2018 Bonus Distribution of $0.0833/unit was paid in units on December 31, 2018 to unitholders of record as at December 31, 2018.
CFIT
A 2018 Bonus Distribution of $0.1943/unit was paid in units on December 31, 2018 to unitholders of record as at December 31, 2018.
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Centurion Apartment REIT Announces Acquisition of Three New Multi-Residential Apartment Buildings in Regina, Saskatchewan
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, has closed the purchase of three multi-family properties in Regina, Saskatchewan. Madison Manor, Madison Ridge, and Sky Pointe have a total of 187 units with a mix of one-bedroom, two-bedroom, and three-bedroom suites.
Click
here
to view the announcement.
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Centurion Apartment REIT Announces the Acquisition of its First Multi-Residential Apartment Property in the U.S.
Centurion Asset Management Inc., the asset manager of Centurion Apartment REIT, has acquired 85% interest in a multi-residential property in Texas, U.S. This transaction is Centurion’s first acquisition in the U.S.
Oxford at The Ranch
is situated at 31200 FM 2920 Road in Waller, a city located northwest of Houston, and features 224 suites.
Centurion President and CEO Greg Romundt shares,
"This marks Centurion’s very first acquisition outside Canada. Northwest Houston is one of the fastest-growing areas in Texas with companies starting to establish campuses and facilities in this region. Centurion believes this initial acquisition will open a pipeline of future developments and acquisitions, which will bolster Centurion’s presence in the U.S.”
Click
here to view the announcement.
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Centurion Apartment Real Estate Investment Trust ("REIT")
- The REIT NAV as at February 1, 2019 is $16.149, which represents a unit price appreciation of 16.6% since the start of 2018.
- The REIT's return for 2018 was 23.44% on its Class A Units and 24.39% on its Class F Units.
- The current annualized distribution yield for reinvested Class A Units is 5.31% and 6.04% for Class F Units.
- The REIT has completed the purchase of four multi-family properties -- three in Regina, Saskatchewan at 100% interest and one in Texas, USA at 85% interest.
- Diluted vacancy rate continues to remain low at 1.4% as at December 31, 2018.
- Rent-to-market-rent gap is 13.7% as at December 31, 2018.
- The REIT is temporarily capped for new investments as at February 4, 2019.
Centurion Real Estate Opportunities Trust ("REOT")
- The REOT NAV as at February 1, 2019 is $ 11.579, which represents a unit price appreciation of 2.7% since the start of 2018.
- The REOT's return for 2018 was 9.95% on its Class A Units and 10.92% on its Class F Units.
- The current annualized distribution yield for reinvested Class A Units is 6.35% and 7.28% for Class F Units.
- 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 February 1, 2019 is $ 10.357, which represents a unit price appreciation of 0.7% since the start of 2018.
- CFIT's return for 2018 was 9.81% on its Class A Units and 10.88% on its Class F Units.
- The current annualized distribution yield for reinvested Class A Units is 7.12% and 8.17% for Class F Units
- The portfolio is split as at December 31, 2018 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.
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CapRE’s Canada Student Housing Forum Preview: Q&A with Greg Romundt, Centurion
Centurion President and CEO Greg Romundt will be a featured speaker at CapRE’s upcoming Canada Student Housing Forum on April 4, 2019. In this interview, Greg shared his thoughts on the current state of and available opportunities in the Canadian student housing market, and how the U.S. and Canadian economies affect the rental markets for both multi-family and student housing.
Read the full interview
here
.
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Private Apartment REITs with Centurion founder Greg Romundt
Greg Romundt sits with Sim and Dayma from Commercial Real Estate Library to talk about Centurion and the company’s suite of investment and financing solutions. Greg also shared his thoughts on key topics in the Canadian real estate today.
Watch the full video
here or l
isten to the podcast
here
.
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Student housing proves to be a lucrative niche for investors
This interesting article from The Globe and Mail talks about the opportunities in student housing for REITs like Centurion. President and CEO Greg Romundt shares how this market segment complements Centurion's diverse portfolio.
Read the full article
here.
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William Aust
Director, Corporate Finance
William Aust has over 25 years of financial and investment experience. While performing progressively responsible business development and credit adjudication roles within a leading Schedule 1 Canadian Chartered Bank, WIlliam established a proven record of assisting commercial enterprises across numerous sectors and regions. His collaborative decision making approach, and his ability to analyze and identify risk mitigating factors beyond the numbers, led to the repeated success of his financial partners.
William holds Chartered Financial Analyst (CFA) and Institute of Corporate Directors (ICD.D) designations, and a Master in Business Administration. He has contributed to the community, including through Board appointments to regional hospital and economic commissions, the New Brunswick Securities Commission, and the Parole Board of Canada.
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For more information about our products, please contact your advisor.
For investor management inquiries, please contact or Investor Administration team:
Toll-Free: 1-833-733-5617
Tel: 416-733-5617
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Please note that 2018 Tax Slips will be available
the week of March 25, 2019.
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