BOARDWALK REIT PROVIDES OPERATIONAL AND CAPITAL ALLOCATION UPDATE AND ANNOUNCES TIMING OF THIRD QUARTER RESULTS

Core Insights - Boardwalk Real Estate Investment Trust has reported strong leasing performance and capital allocation initiatives, maintaining high occupancy rates and increasing occupied rents [1][5]. Occupancy and Rent Performance - The same property portfolio occupancy rates have remained stable, with a preliminary occupancy of 97.8% as of October 2025 [2]. - Occupied rent has shown a consistent upward trend, increasing from $1,485 in August 2024 to $1,583 in August 2025, reflecting a steady growth in rental revenue [2]. Capital Allocation Initiatives - In September 2025, the Trust purchased and cancelled 11,800 trust units for approximately $0.8 million at a weighted average price of $68.48, totaling about 486,000 trust units purchased in the first nine months of 2025 at an average price of $63.29 [3]. - The Trust finalized the acquisition of the 639 Main Street community in Saskatoon for $39 million, which includes 106 suites and commercial space, with a projected cap rate of 5.5% in the first year [4][7]. Market Conditions and Strategic Positioning - The Trust's largest market, Alberta, continues to experience population growth, with an increase of over 19,000 residents (+0.4% quarter-over-quarter) in the most recent quarter [6]. - The acquisition of 639 Main Street is expected to enhance the Trust's portfolio in a robust market, providing a competitive price point of approximately $2.43 per square foot per month [7]. Future Outlook - Boardwalk REIT plans to release its financial results for the third quarter on November 4, 2025, with a teleconference scheduled for November 5, 2025, to discuss these results [8][9].