Boardwalk REIT Announces Solid Second Quarter Financial Results: FFO per unit up 6.2% for the three months ended June 30, 2014. Boardwalk narrows its 2014 financial guidance and confirms its monthly per unit distribution for the months of August, September and October of 2014 of $2.04 on an annualized basis.

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[{"type":"text","content":"\n\n\nCALGARY, Aug. 14, 2014 /CNW/ - Boardwalk Real Estate Investment Trust (\"BEI.UN\" - TSX)\n\n\nBoardwalk Real Estate Investment Trust (\"Boardwalk\", \"Boardwalk REIT\" or\n the \"Trust\") today announced solid financial results for the second\n quarter of 2014.\n\n\nFunds From Operations (\"FFO\") for the second quarter totaled $45.3\n million, or $0.86 per Trust Unit on a diluted basis, compared to FFO of\n $42.6 million or $0.81 per Trust Unit for the same period last year, an\n increase of 6.5% and 6.2% respectively.\n\n\nAdjusted Funds From Operation (\"AFFO\") for the three month period ended\n June 30, 2014 increased 8.2% to $0.79 per unit on a diluted basis,\n compared to $0.73 per unit in the same period last year.\n\n\nFunds from Operations for the six month period ended June 30, 2014\n totalled $85.3 million, or $1.63 per Trust Unit on a diluted basis,\n compared to FFO of $81.8 million or $1.56 per Trust Unit for the same\n six month period last year, an increase of 4.3% and 4.5% respectively.\n\n\nThe increase in reported FFO was attributed to organic revenue growth\n driven by higher market and in-place rents while maintaining high\n occupancy levels, resulting in a 4.3% increase in total rental revenue\n for the second quarter versus the same period in 2013; however, this\n was tempered by higher operating expenses, including natural gas,\n property tax and wages and salaries.    The low interest rate\n environment continues to benefit the Trust as lower overall financing\n costs in the renewal of its existing CMHC Insured Mortgages continues\n to reduce the Trust's interest expense.\n\n\nFFO and AFFO are widely accepted supplemental measures of the\n performance of a Canadian Real Estate entity; however, they are not\n measures defined by International Financial Reporting Standards\n (\"IFRS\").  The reconciliation of FFO and other financial performance\n measures can be found in the Management Discussion and Analysis (MD&A)\n for the second quarter ended June 30, 2014, under the section titled,\n \"Performance Measures\".\n\n\n\n\n\n\n\n \n\n\n\n\n$ millions, except per unit amounts\n\n\n\n\nHighlights of the Trust's Second Quarter 2014 Financial Results\n\n\n\n\n \n\n\nThree Months Jun\n2014\n\n\nThree Months Jun\n2013\n\n\n% Change\n\n\nSix Months Jun\n2014\n\n\nSix Month...

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