Business
BOARDWALK REIT ANNOUNCES CONTINUATION OF ITS CAPITAL UPCYCLING PROGRAM, EXPANDS ITS GREATER MONTREAL PORTFOLIO
BOARDWALK REIT ANNOUNCES CONTINUATION OF ITS CAPITAL UPCYCLING PROGRAM, EXPANDS ITS GREATER MONTR...
About this update from Boardwalk Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n\n BOARDWALK REIT ANNOUNCES CONTINUATION OF ITS CAPITAL UPCYCLING PROGRAM, EXPANDS ITS GREATER MONTREAL PORTFOLIO\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Sept. 3, 2025\n \n\n /CNW/ -\n \n Boardwalk Real Estate Investment Trust -\n \n (TSX: BEI.UN)\n \n\n Boardwalk REIT (\"Boardwalk\", \"the Trust\", \"We\", \"Our\") announced today\n \n $273.1 million\n \n of transaction activity consisting of the sale of two older communities in\n \n Edmonton, Alberta\n \n for a gross sales price of\n \n $24.1 million\n \n and the acquisition of\n \n Central Parc 1, 2 and 3\n \n in\n \n Laval\n \n , Québec for a total purchase price of\n \n $249.0 million\n \n . All amounts referenced herein exclude transaction and closing costs.\n \n\n\n\n Edmonton Dispositions\n \n\n\n\n The Trust has finalized the sale of two older vintage communities totaling 134 suites in\n \n Edmonton, Alberta\n \n for a gross sales price of\n \n $24.1 million\n \n . The sales price equates to approximately\n \n $180,000\n \n per suite and an exit cap rate of approximately 5.6% and includes the Trust's\n \n Westmoreland Apartments and\n \n Lorelei House\n \n\n communities. The communities were sold to a local private buyer and were put under contract in Q2 2025. The existing mortgages have an aggregate balance remaining of\n \n $8.6 million\n \n at a weighted average interest rate of 3.0%. The sale is scheduled to close in\n \n September 2025\n \n .\n \n\n\n\n Central Parc 1, 2 and 3\n \n\n\n\n The Trust is pleased to announce the acquisition of the\n \n Central Parc 1, 2 and 3\n \n communities in\n \n Laval\n \n , Québec. The communities consist of 3 concrete towers totaling 541 suites built in phases from 2019 – 2022.  The total purchase price of\n \n $249.0 million\n \n equates to approximately\n \n $460,000\n \n per suite and a going-in cap rate of 4.5%, excluding transaction costs.  The communities offer best-in-class amenities and finishes, as well as spacious layouts with an average suite size of 942 ...