CALGARY, AB, Jan. 5, 2021 /PRNewswire/ - Boardwalk Real
Estate Investment Trust - TSX: BEI.UN
Boardwalk REIT ("Boardwalk", "the Trust", "We"), as part of the
Trust's commitment to providing regular updates through the COVID
pandemic, provided a brief update highlighting stabilized portfolio
occupancy, rental revenue collection rate and occupied rents
available to date as we continue to focus on our essential service
of providing safe homes to Boardwalk's Resident Members through
this COVID-19 pandemic.
Stabilized Portfolio Occupancy, Rental Revenue Collection,
and Occupied Rent
|
Jul-20
|
Aug-20
|
Sep-20
|
Oct-20
|
Nov-20
|
Dec-20
|
Jan-21
|
Stabilized
Portfolio Occupancy1
|
96.9%
|
96.7%
|
96.2%
|
96.2%
|
95.8%
|
95.2%
|
94.9%
|
|
|
1
|
Occupancy as of the
first day of each month
|
|
Jul-20
|
Aug-20
|
Sep-20
|
Oct-20
|
Nov-20
|
Dec-20
|
Rental Revenue
Collection2
|
98.3%
|
98.2%
|
98.3%
|
98.3%
|
98.0%
|
98.5%
|
|
|
2
|
% of rental revenue
collected for the month as the last day of each respective
month
|
|
Jul-20
|
Aug-20
|
Sep-20
|
Oct-20
|
Nov-20
|
Occupied
Rent3
|
$1,177
|
$1,183
|
$1,183
|
$1,186
|
$1,187
|
|
|
3
|
Ancillary rental
revenue is included in the calculation of occupied rent, December
figure TBA with Q4 Results
|
Sam Kolias, Chairman and Chief
Executive Officer of Boardwalk REIT commented:
"Through the second wave of the COVID-19 pandemic, and the
seasonally slower winter months, Boardwalk has continued to produce
resilient operational results. Boardwalk's diverse product
continues to provide housing for a broad range of Canadians and our
focus on affordability across each of our three brands has allowed
Boardwalk to continue to lead market share in our core markets.
Boardwalk always remains committed to providing safe and
affordable homes to our Resident Members, and with a focus on
retention, our Team continues to achieve sustainable incentive and
discount reductions on renewals. The success of this approach is
shown by our steady growth in our occupied rent and this has
positioned us well to gain on occupancy in the new year. As
always, we will continue to work with any of our Resident Members
who are experiencing financial hardship.
Our Team of Heroes has continued to deliver our essential
service of housing through the current environment and are
providing housing solutions for our current and prospective
Resident Members through this second wave of the pandemic.
Thank you to our Team for adapting and accelerating the usage of
our new Resident Member portal, developing new ways to show and
lease suites through virtual showings, and for finding more
efficient ways of delivering Boardwalk's product quality, service,
and experience while always maintaining our utmost safety
standards.
I would like to thank our entire peak performance Team of
Associates who continue to provide our essential service of safe
and affordable housing. We look forward to sharing full
details of our fourth quarter financial results in February."
Timing of Boardwalk REIT's Fourth Quarter Financial
Results
Boardwalk REIT's financial results for the three and
twelve-month periods ended December 31,
2020, will be released after the market closes on
Thursday February 25, 2021.
We invite you to participate in the teleconference to be held to
discuss these results the following morning (Friday February 26, 2021) at 9:00 am (Mountain),11:00
am (Eastern). Senior Management will speak to the
results and provide a financial and operational update.
Presentation and supplemental materials will be made available on
our website prior to the call (please visit:
www.bwalk.com/investors).
Teleconference:
The telephone numbers for the conference are toll-free
1-888-664-6383 (within North
America) and 416-764-8650 (International).
Note: Please provide the operator with the below Conference Call
ID or Topic when dialing in to the call.
Conference ID: 34608422
Topic: Boardwalk Real Estate Investment Trust, 2020 Fourth
Quarter Results.
Webcast:
Investors will also be able to listen to the call and view the
slide presentation by visiting www.bwalk.com/investors on the
morning of the call. An information page will be provided for
any software and system requirements. The live webcast will
also be available by clicking below:
Boardwalk REIT Fourth Quarter Results Webcast Link
Corporate Profile:
Boardwalk REIT strives to provide Canada's friendliest communities, where
love always livesTM, and currently owns and operates
more than 200 communities with over 33,000 residential units
totaling over 28 million net rentable square feet.
Boardwalk's principal objectives are to provide its Residents with
the best quality communities and superior customer service, while
providing Unitholders with enhanced returns by increasing the value
of its Trust Units through selective acquisitions, dispositions,
development, and effective management of its residential
multi-family communities. Boardwalk REIT is vertically
integrated and is Canada's leading
owner/operator of multi-family communities bringing Residents home
to properties located in Alberta,
Saskatchewan, Ontario, and Quebec.
Boardwalk REIT's Trust Units are listed on the Toronto Stock
Exchange, trading under the symbol BEI.UN. Additional
information about Boardwalk REIT can be found on the Trust's
website at www.bwalk.com/investors.
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SOURCE Boardwalk Real Estate Investment Trust