CALGARY, AB, April 6, 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, 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
through this COVID-19 pandemic.
Stabilized Portfolio Occupancy, Rental Revenue Collection,
and Occupied Rent
|
Nov-20
|
Dec-20
|
Jan-21
|
Feb-21
|
Mar-21
|
Apr-21
|
Stabilized
Portfolio
Occupancy
|
95.8%
|
95.2%
|
94.8%
|
94.7%
|
95.0%
|
95.7%
|
|
1 Occupancy as of the
first day of each month
|
|
Nov-20
|
Dec-20
|
Jan-21
|
Feb-21
|
Mar-21
|
Rental Revenue
Collection
|
98.0%
|
98.5%
|
98.4%
|
98.4%
|
98.8%
|
|
2 % of rental revenue
collected for the month as the last day of each respective
period
|
|
Nov-20
|
Dec-20
|
Jan-21
|
Feb-21
|
Occupied
Rent
|
$1,187
|
$1,189
|
$1,190
|
$1,189
|
|
3 Ancillary rental revenue
is included in the calculation of occupied rent, March figure TBA
with Q1 Results
|
Sam Kolias, Chairman and Chief
Executive Officer of Boardwalk REIT commented:
"We are pleased to provide an update on the positive trends
previously shared with our disclosures in February.
Boardwalk's move-ins exceeded move-outs in the months of January,
February and March which have led to a significant 100 basis point
gain in occupancy to 95.7%.
We cannot thank our Boardwalk team of heroes enough for
continuing to provide safe and affordable homes for our Resident
Members, as our brand of product quality, service and experience
continues to lead in market share and performance.
With vaccinations well underway, our largest market of
Alberta continues to see positive
leading indicators for housing demand. Population growth of
0.8% in the first quarter (1.0% in Q4, 2020) continues to lead all
provinces on a proportionate basis. This population growth
combined with low interest rates, improving sentiment in the energy
sector, and steady news of companies choosing Alberta as the place they call home, is
leading to record home sales and a balancing of the housing market
through this pandemic. The Alberta government has recently announced a
return to in-person learning at our post-secondary institutions
this September which has led to a return of students, further
increasing housing demand. Economic and rental market
indicators continue to reflect Alberta's economic rebound which is grounded
on some of the most affordable and desirable housing in
Canada as we transition to the
endemic economy.
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 first quarter financial results in May."
Retirement of Lisa Russell,
Senior Vice President; Corporate Development
Lisa Russell, the Trust's Senior
Vice President of Corporate Development has provided the Trust with
her intention to retire effective June
30, 2021. Sam Kolias;
Chairman and CEO commented:
"On behalf of our entire Boardwalk team and family, we are
forever grateful for the contributions and leadership that Lisa has
provided over her 25+ year career with Boardwalk. Lisa has
been a tremendous leader in Boardwalk's acquisition, disposition
and growth strategy during her time with the Trust and has mentored
a strong team capable of taking Boardwalk's growth into the
future. The Boardwalk family wishes Lisa an even more amazing
future."
2020 ESG and Annual Report
Boardwalk is proud to publish its 2020 ESG and Annual
reports. Both reports are available as interactive digital
reports on the Trust's website: www.bwalk.com/investors
Timing of Boardwalk REIT's First Quarter Financial
Results
Boardwalk REIT's financial results for the three-month period
ended March 31, 2021, will be
released the evening of May 13,
2021.
We invite you to participate in the teleconference to be held to
discuss these results the following morning (Friday May 14, 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: 83723046
Topic: Boardwalk Real Estate Investment Trust, 2021 First 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 First Quarter Results Webcast Link
Corporate Profile:
Boardwalk REIT strives to provide Canada's friendliest communities, where
love always lives™, 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