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Welcome to the Summer Edition of The Centurion! In this issue, President and CEO Greg Romundt shares thoughtful insights in his latest whitepaper, The Inflationary Regime Will Be Here for Years to Come. In addition, we share exciting news about our latest acquisitions, recent awards, quarterly performance, and updates to our Asset Management Agreements.
REIT Q2 2023 Report highlights:
- Total Assets increased by 7.6% to $6.2 billion during the year
- Property Operating Revenues increased by 26.7% over the same quarter last year.
- Net Operating Income (“NOI”) increased by 24.2% to $53.4 million from $43.0 million over the same quarter last year.
- Overall Portfolio Occupancy increased to 94.2% as compared to 92.7% over the same quarter last year.
- Acquired one property with 60 rental units in Kelowna, British Columbia and acquired an additional 25% interest in a Student property located in Calgary, Alberta
- Trailing 12-Month Class A Return of 10.10%.
- Trailing 12-Month Class F Return of 11.09%.
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PORTFOLIO MANAGER'S CORNER | | |
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The Inflationary Regime Will Be Here for Years to Come - September 1, 2023
In his latest whitepaper, Greg examines the impact of Central Bank interest rate hikes on inflation trends in the short and medium term. He also explores their influence on Canada's housing market, highlighting additional factors exacerbating the housing shortage and contributing to inflationary concerns.
Read More
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Coming Soon
Webinar - September 8, 2023
Stay tuned for a pre-recorded webinar, which will be available for viewing on Friday, September 8, 2023. Greg will discuss his latest whitepaper, Q2 results and further updates.
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Here are the latest investor resources for each fund as at June 30, 2023. You can also visit each fund's page on Centurion.ca for additional information and archived versions of the financial reports.
Centurion Apartment Real Estate Investment Trust
Centurion Financial Trust
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UPDATES TO ASSET MANAGEMENT AGREEMENTS - SEPTEMBER 1, 2023 | | |
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Credo – August 31, 2023
A new multi-residential property in Calgary, Alberta
Credo is a brand new, multi-residential apartment located in Calgary, Alberta. The newly built 5- storey building was recently completed in June 2023 and consists of 125 high-end suites offering a mix of studio, one-bedroom, one-bedroom + den and two-bedroom units.
View full details
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NOX, Phase II – July 27, 2023
A new multi-residential property in Gatineau, Québec
The NOX portfolio consists of seven newly constructed, mid-rise, multi-residential apartment buildings, developed in three separate phases. Earlier this year, Centurion acquired Phase I, encompassing four buildings with a total of 277 rental units. Phase II, features two buildings comprising of 158 rental units. Phase III, scheduled for completion later this Fall, features one building offering 99 rental units.
View full details
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Knox Village, Phase I – June 21, 2023
A new multi-residential portfolio in Kelowna, BC
The Knox Village portfolio consists of four mid-rise, multi-residential apartment buildings constructed in three phases. Phase I, totaling 60 units, was recently completed. Phase II, totaling 61 units, is set to be completed at the end of this year and Phase III, totaling 117 units is set to be completed mid-2024.
View full details
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2023 Canadian HR Awards
Centurion was selected as an Excellence Awardee and shortlisted for four award categories in the 10th Annual Canadian HR Awards. The shortlisted categories include Best Reward & Recognition Strategy, Canadian HR Team of the Year (Finance/Insurance), Most Effective Recruitment Strategy and Leader of the Year. Winners will be selected by a panel of industry experts and announced during the awards show on September 20, 2023.
View full details
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Centurion Ranked 14 on the 2023 List of Best Workplaces™ in Canada
Centurion is proud to be ranked number 14 on this year’s Best Workplaces™ in Canada list. This is the third consecutive year Centurion has been recognized as a Best Workplace™ in Canada.
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Top 10 Chief Human Resources and Chief People Officers
Laura Salvatore, Vice President of Human Capital at Centurion Asset Management Inc., has been recognized as one of the Top 10 Chief Human Resources and Chief People Officers by DiversityCan Magazine!
View full details
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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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