CA - Boardwalk REIT reports near-full portfolio occupancy at start of 2023

• Boardwalk Real Estate Investment Trust ( OTCPK:BOWFF ) reported preliminary stabilized portfolio occupancy at 98.1% as of January 1 vs. 98% as of December 1 and 95.6% as of January 1, 2021.
• Occupied rent as of November 1 was $1,265, up 5.3% Y/Y. The figure for December will be announced with Q4 results.
• The REIT started 2023 "with near-full occupancy, strong resident member retention rates, and increasing average occupied rents on the foundation of some of the most affordable rents in Canada. On the ground, we continue to see record levels of immigration into Alberta, our largest market," said CEO Sam Kolias.
• The company repurchased and cancelled 440K trust units at an average price of $49.25 apiece under its normal course issuer bid in 2022.
• Boardwalk REIT will report Q4 and 2022 financial results on February 23.
• Read why SA contributor Trapping Value has moved to the sidelines on Boardwalk REIT amid higher rate challenges .

For further details see: