Calgary, AB, July 6, 2020 /PRNewswire/ - Boardwalk Real
Estate Investment Trust - TSX: BEI.UN
Boardwalk REIT ("Boardwalk", "the Trust", "We") today provided a
brief update highlighting collection and occupancy rates through
the months of April, May and June of 2020 as we continue to focus
on our essential service of providing safe homes to Boardwalk's
Resident Members through this COVID-19 pandemic.
Rental Revenue Collection and Occupancy Update
Boardwalk
Portfolio -
Month
|
Rental Revenue
Collection 1
|
Stabilized
Portfolio
Occupancy 2
|
Apr-20
|
97.5%
|
96.6%
|
May-20
|
97.9%
|
96.7%
|
Jun-20
|
98.0%
|
97.1%
|
1: % of rental
revenue collected for the month as of the last day of each
respective month
|
2: Occupancy as
of the first day of each month
|
|
Sam Kolias; Chairman and Chief
Executive Officer of Boardwalk REIT commented:
"Boardwalk's focus on providing safe and affordable homes has
resulted in strong rental collection rates, while our approach of
delivering the best product quality, service and experience has
resulted in continued improvement in portfolio occupancy.
Our Boardwalk team continues to utilize our lessons learned from
the re-engineering of our peak performance culture through the
economic volatility experienced in 2016 and 2017 to outperform in
an all stages of the rental market as demonstrated by our industry
leading growth over the past several quarters, and more recently,
the gaining of market share through this current COVID
pandemic.
As our local markets begin their economic relaunch, Boardwalk
will continue to work with any of our Resident Members who are
experiencing financial hardship, and remain committed to ensuring
safe homes across our entire portfolio of low-rise, townhome,
(approximately 60% of our communities) and mid, high-rise
communities (approximately 40% of our communities.)
Multi-decade record affordability, and Boardwalk's brand and
product diversification provide an exceptional value proposition
for our Resident Members who continue to call Boardwalk home which
in turn reward all our stakeholders with high-retention rates and
new rentals, positioning the Trust to continue delivering on solid
results.
Thank you to our entire peak performance team of Associates who
continue to serve our Resident Members with our safe and affordable
homes, inspiring us all how to love always. We look forward
to sharing full details of our second quarter financial results in
mid-August."
Timing of Boardwalk REIT's Second Quarter Financial
Results
Boardwalk REIT's financial results for the three and six-month
periods ended June 30, 2020 will be
released after the market closes on Thursday
August 13, 2020.
We invite you to participate in the teleconference to be held to
discuss these results the following morning (Friday August 14, 2020) 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: 84873695
Topic: Boardwalk Real Estate Investment Trust, 2020 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,
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