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Welcome to the first edition of 'The Centurion' for 2022.

2022 is off to a busy start! In Q1, Centurion has grown to $5.3 billion in AUM and announced six completed and pending acquisitions, including a record-breaking deal in Quebec. We were also recognized as one of Canada’s Best Workplaces™ and announced as an Excellence Awardee for this year’s Wealth Professional Awards. Keep reading to learn more about these exciting updates and more.


Greg Romundt Shares His Latest Industry Insights

Centurion President and CEO, Greg Romundt, has released two new whitepapers sharing his expert insights and analysis of the real estate industry and the current macroeconomic landscape.

In The Regime Has Changed Greg discusses the outlook for a world with higher and longer inflationary pressures than currently anticipated along with new insights on topics including supply chain, commodities, re-armament, wages, and monetary and fiscal policy. This is a follow-on from his original Regime Change Ahead: Why I’ve Changed My Core Thesis from Disinflation to Stagflation paper which was published at the turning point in inflation in August of 2020. 

Greg also shares how the real estate sector can anticipate rising interest rates and inflationary pressure to impact capitalization rates and expected returns in Interest Rates, Inflation, Capitalization Rates, and Returns.

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Centurion's Co-Development of a Purpose-Built Rental Project in Ottawa Featured in RENX

Centurion has established a 50% ownership interest in the co-development of a purpose-built rental project in Ottawa. The development broke ground in March 2022 and is projected to welcome its first tenants in late 2025. The development consists of two multi-use buildings comprising of 560 rental units and approximately 20,000 square feet of rental space. This is an exciting partnership for Centurion.

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Centurion's Record-Breaking Pending Acquisition in Kelowna Featured in Western Investor

Centurion’s pending acquisition of an apartment portfolio in Kelowna will be the largest single-apartment building transaction in the B.C. Interior’s history. The Property, Knox Village, comprises a total of 238 rental units and is under construction. The transaction will close in phases, with the first phase expected to close in October 2022 and the final phase in May 2023. Centurion is excited to continue expanding into Kelowna’s in-demand rental market. 


Centurion Announces the Largest Single Multi-Family Acquisition to Date in Montreal

Centurion is proud to announce the acquisition completion of the remaining one-third interest in the apartment portfolio in Montreal, Quebec. Centurion now has 100% ownership. The portfolio comprises 30 newly constructed multi-residential properties throughout the Greater Montreal Area, totaling 3,678 rental units.

“Centurion is excited to announce the closing of the largest multi-family acquisition ever in Quebec. This acquisition supports our vision of developing rental apartments in well-located, rapidly growing suburban communities” says Greg Romundt, Centurion President and CEO.

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Centurion Announced as an Excellence Awardee and Shortlisted for Three Categories at the 2022 Wealth Professional Awards

Centurion is pleased to announce we have been selected as an Excellence Awardee and shortlisted for three award categories in the 8th Annual Wealth Professional Awards. The shortlisted categories include Alternative Investment Solutions Provider of the Year, CEO of the Year, and Employer of Choice.

The Wealth Professional Awards recognize business excellence in the wealth management industry. Finalists for these awards were selected after an open call nomination for wealth management professionals and organizations across Canada and an extensive research process by Wealth Professional.

Centurion President and CEO, Greg Romundt, commented “Centurion has achieved a year of solid growth and we’re excited this success is being recognized at the 2022 Wealth Professional Awards. We look forward to joining our industry colleagues in celebrating the achievements of all finalists who strengthen Canada’s wealth management sector.”

Winners will be selected by a panel of industry experts and announced during the awards ceremony at Liberty Grand Toronto on June 1, 2022.

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Centurion Recognized as One of Canada's Best Workplaces

Centurion is proud to announce we have been recognized on this year’s Best Workplaces™ in Canada List, marking the second consecutive year Centurion has made the list. This list, and related stories, appear in a Special National Report in The Globe and Mail.

We have also been named on the 2022 list of Best Workplaces for Hybrid Work. Guided by direct Employee feedback, Centurion’s Human Resources team has developed a hybrid work environment that is centered around our people and meaningful collaboration.

In addition, Centurion has been named on the 2022 list of Best Workplaces for Women. Fifty percent of Centurion Employees and one-third of our leadership team identify as women so we take pride in offering a work culture where everyone can feel valued and have equal opportunity for growth, regardless of their gender.

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Centurion's HR Team Recognized as One of 2022's Most Innovative HR Teams

Centurion’s Human Resources Team, spearheaded by Laura Salvatore, Vice President of Human Capital, has been selected by HRD Canada as one of 2022’s most innovative HR Teams! This award recognizes companies that are leading the future of the HR industry by breaking boundaries and pioneering innovative strategies. Centurion’s Human Resources department is dedicated to adapting innovative strategies that continue to improve the employee experience. 


Since our last newsletter in December 2021, Centurion Apartment REIT has acquired the below 39 properties totaling 4,426 rental units and announced 1 pending acquisition.

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Le Bacc - May 13, 2022

A new multi-family apartment property in Sainte-Foy, Quebec

Built in 2021, this 6-storey mid-rise offers a total of 170 rental apartment units with a variety of floorplans – studio, one, two, and three-bedroom suites with balconies. Le Bacc is in one of the most highly sought-after areas in Quebec City and is strategically located in the academic hub of Sainte-Foy close to Laval University, CEGEP Sainte-Foy, CEGEP Champlain St. Lawrence, and CEGEP Garneau, which collectively have an annual enrollment of over 70,000 students.

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Le Central - April 28, 2022

A new multi-residential development in Gatineau, Quebec

Located in the heart of Gatineau’s newly developed Plateau submarket, this development consists of seven 4-storey buildings totalling 345 suites. The suites feature condo-quality finishes, in-suite laundry, five appliances, and window coverings. The amenities include rooftop terraces and access to Le Central Private Club, a separate amenity clubhouse with over 8,000 square feet of space dedicated to a variety of fitness, lifestyle, and business-related uses.


Montreal Portfolio - April 26, 2022

30 multi-residential properties in the Greater Montreal Area

Marking further progress on the record-breaking acquisition in Quebec, Centurion has closed the remaining one-third interest in the portfolio resulting in Centurion’s 100% ownership. On February 3rd, Centurion acquired the initial two-thirds ownership interest. The portfolio consists of 30 newly constructed properties totaling 3,678 rental units all within the Greater Montreal Area.

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Land Assembly - April 25, 2022

Six single-family lots in Langford, British Columbia

In close proximity to Centurion’s other properties in Langford, this land assembly consists of six single-family lots currently improved with older single-family homes. The Site is located within downtown Langford and offers easy access to numerous rental demand drivers such as Westshore Town Centre, Millstream Village Shopping Centre, and Costco.


Metro - February 4, 2022

A new multi-residential property in Surrey, British Columbia

This 6-storey luxury rental property is the first phase of a two-phase project, located five minutes away from Fusion, another Centurion-owned property. Phase I comprises a total of 233 rental units with a mix of studio, one, and two-bedroom units with dens in select suites. The building features a 3-level partially underground parkade and 4,728 square feet of ground-floor commercial space. Amenities include a state-of-the-art theatre room, a large central courtyard, and a fully equipped gym. This acquisition brings Centurion’s Surrey portfolio to a total of three properties.

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250 & 240 rue Castonguay

Saint- Jérôme, QC

Anticipated closing: Summer 2022

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Edmonton, AB

Q4 2021


Warehouse District Flats LLC

West Palm Beach, FL

April 25, 2022

*The above disposition was an equity accounted investment in development properties that was acquired by a third party in April.


Centurion has grown to $5.3 billion in AUM and we are looking forward to continued growth throughout the year.

Check out our latest webinar for updates on Centurion Apartment Real Estate Investment Trust. In the webinar Greg discusses highlights from 2021 and provides an outlook for Centurion Apartment REIT in 2022. Greg also shares his insight into the Canadian multi-residential apartment real estate sector and the macro-economic landscape.

Watch the Spring 2022 Centurion Apartment REIT Update Webinar.

Read the Spring 2022 Centurion Apartment REIT Update Webinar Transcript.


Here are the latest investor resources for each fund. 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 (REIT)

Centurion Financial Trust (CFiT)

For investor management inquiries, please contact or Investor Administration team:

Toll-Free: 1-833-733-5617
Tel: 416-733-5617
centurion.ca | 1-888-992-5736
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