Boardwalk REIT Announces Solid Third Quarter Financial Results: FFO per unit up 4.7% for the three months ended September 30, 2014. Boardwalk narrows its 2014 financial guidance, introduces its 2015 financial guidance, announces a Special Distribution of $1.40 per Trust Unit and confirms its regular monthly per unit distribution for the months of November and December of 2014 and for the month of January 2015 of $2.04 on an annualized basis.

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[{"type":"text","content":"\n\n\nCALGARY, Nov. 13, 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 third\n quarter of 2014.\n\n\nFunds From Operations (FFO) for the third quarter totaled $46.8 million,\n or $0.90 per Trust Unit on a diluted basis, compared to FFO of $45.0\n million or $0.86 per Trust Unit for the same period last year, an\n increase of 4.1% and 4.7% respectively.\n\n\nAdjusted Funds From Operation (AFFO) for the three month period ended\n September 30, 2014 increased 5.1% to $0.82 per unit on a diluted basis,\n compared to $0.78 per unit in the same period last year.\n\n\nFunds from Operations for the nine month period ended September 30, 2014\n totalled $132.1 million, or $2.52 per Trust Unit on a diluted basis,\n compared to FFO of $126.7 million or $2.42 per Trust Unit for the same\n nine month period last year, an increase of 4.2% and 4.1% respectively.\n\n\nThe increase in reported FFO was attributed to organic revenue growth\n driven by higher market and in-place rents, resulting in a 4.3%\n increase in total rental revenue for the third quarter versus the same\n period in 2013 and 4.5% for the first nine months of 2014; however,\n this was tempered by higher vacancy in some of the Trust's markets in\n the third quarter, and higher operating expenses, including natural\n gas, particularly in the first quarter, property tax and wages and\n salaries.  The low interest rate environment continues to benefit the\n Trust as lower overall financing costs in the renewal of its existing\n CMHC Insured Mortgages continues to reduce the Trust's interest\n expense.\n\n\nFFO and AFFO are widely accepted supplemental measures of the\n performance of a Canadian Real Estate entity; however, they are not\n measures defined by International Financial Reporting Standards\n (IFRS).  The reconciliation of FFO and other financial performance\n measures can be found in the Management Discussion and Analysis (MD&A)\n for the third quarter ended September 30, 2014, under the section\n titled, \"Performance Measures\".\n\n\n\n\n\n\n\n \n\n\n\n\n$ millions, except per unit amounts\n\n\n\n\nHighlights of the Trust's Third Quarter 2014 Financial Results\n\n\n\n\n \n\n\n&...

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