CALGARY, AB, July 6, 2021 /CNW/ - 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, the following is a brief update highlighting stabilized
portfolio occupancy, rental revenue collection rates and occupied
rents available to date as we continue to focus on our essential
service of providing safe homes to Boardwalk's Resident Members
while delivering sustainability and growth to our
stakeholders.
Stabilized Portfolio Occupancy, Rental Revenue Collection,
and Occupied Rent
|
Jan-21
|
Feb-21
|
Mar-21
|
Apr-21
|
May-21
|
Jun-21
|
Jul-21
|
Stabilized
Portfolio
Occupancy 1
|
94.8%
|
94.7%
|
95.0%
|
95.7%
|
96.0%
|
96.0%
|
96.0%
|
1 Occupancy as of the
first day of each month
|
|
Jan-21
|
Feb-21
|
Mar-21
|
Apr-21
|
May-21
|
Jun-21
|
Rental Revenue
Collection 2
|
98.4%
|
98.4%
|
98.8%
|
98.7%
|
98.8%
|
99.1%
|
2 % of rental revenue
collected for the month as of the last day of each respective
period.
|
|
Jan-21
|
Feb-21
|
Mar-21
|
Apr-21
|
May-21
|
Occupied Rent
3
|
$1,190
|
$1,189
|
$1,188
|
$1,188
|
$1,189
|
3 Ancillary rental revenue
is included in the calculation of occupied rent. June figure TBA
with Q2 Results
|
Sam Kolias, Chairman and Chief
Executive Officer of Boardwalk REIT commented:
"With all public health restrictions lifted in Alberta as of July
1st, and the continued easing of restrictions in
the coming weeks in our remaining markets, we would like to take
this opportunity to thank our Boardwalk team of heroes for their
persistence through the pandemic. This commitment to our
Resident Members and to our leading product quality, service and
experience has resulted in resilient operating and financial
performance through COVID-19. Occupancy has continued to rise
in our core Alberta market through
the second quarter, offsetting vacancy in a community under-going a
re-positioning in Quebec City. Our high occupancy combined
with the easing of restrictions in all our markets positions us
well to continue to deliver sustainable growth.
As we progress toward the post-pandemic environment, economic
and rental market indicators continue to reflect an economic
rebound in our core Alberta
market. In advance of the easing of pandemic related
restrictions, Alberta continues to
see steady population growth, increasing employment, stronger
energy prices, and a continued diversification of our economy.
Grounded on some of the most affordable and desirable housing in
Canada, Boardwalk is
well-positioned with 70% of our communities located in these
self-regulated markets.
I would like to thank our entire performance-focused Team of
Associates who continue to provide our essential service of safe
and affordable housing. We look forward to sharing full
details of our second quarter financial results in August."
Appointment of Richard Anda,
New Head of Acquisitions
Mr. Richard Anda has joined the
Boardwalk team as head of acquisitions. Richard has over 30 years
of experience in the apartment and real estate sector and was
previously Vice President of Business Development with Northview
Apartment REIT and prior to, Vice President of Operations at
Northern Property REIT.
Sam Kolias; Chairman and CEO
commented: "We are proud to welcome Rick to our Boardwalk
team. Rick's extensive experience and broad relationships in
the industry are strong additions to our existing growth and
performance focused leadership team as we continue to execute our
strategy of optimized organic growth and disciplined accretive
geographic expansion to extend our Boardwalk brand of housing to
other high-growth markets across Canada."
Timing of Boardwalk REIT's Second Quarter Financial
Results
Boardwalk REIT's financial results for the three- and six-month
periods ended June 30, 2021, will be
released the evening of August 12,
2021.
We invite you to participate in the teleconference to be held to
discuss these results the following morning (Friday August 13, 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: 97624649
Topic: Boardwalk Real Estate Investment Trust, 2021 Second 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 Second 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,
Quebec, Ontario, Saskatchewan, and British Columbia.
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