Boardwalk REIT Unveils Voting Outcomes from 2025 Unitholder Meeting Resulting in New Trustee Elections

Boardwalk REIT Reveals Results from 2025 Annual Unitholder Meeting

On May 6, 2025, Boardwalk Real Estate Investment Trust (TSX: BEI.UN), widely known as Boardwalk REIT, released the results of the votes held during its annual and special meeting of unitholders that took place on May 5, 2025. The meeting was crucial for making strategic decisions regarding the future governance of the trust.

Key Voting Outcomes

The gathering saw a remarkable turnout, with 45,212,296 units represented, which accounts for 84.84% of the total units, including Class B Units (LP B Units) eligible for exchange into units. The votes covered several important resolutions:

1. Number of Trustees
The attendance led to a resolution establishing a maximum of eight trustees to be elected, which passed overwhelmingly. Out of the total votes, 45,121,565 (99.80%) were in favor, while only 89,180 (0.20%) opposed this decision.

2. Trustee Elections
Following the resolution on trustee numbers, unitholders voted to elect eight nominees as trustees. The elected trustees include Mandy Abramsohn, Andrea Goertz, Gary Goodman, James Ha, Sam Kolias, Samantha Kolias-Gunn, Scott Morrison, and Brian G. Robinson. Each candidate received strong support, with votes ranging from 89.12% to 99.64% in favor:
- Mandy Abramsohn: 44,660,943 votes for (99.11%)
- Andrea Goertz: 43,881,141 votes for (97.38%)
- Gary Goodman: 43,421,046 votes for (96.36%)
- James Ha: 43,353,974 votes for (96.21%)
- Sam Kolias: 43,680,363 votes for (96.93%)
- Samantha Kolias-Gunn: 40,160,520 votes for (89.12%)
- Scott Morrison: 44,898,922 votes for (99.64%)
- Brian G. Robinson: 43,614,722 votes for (96.79%)

3. Appointment of Auditors
The resolution to reappoint Deloitte LLP as the auditor of the trust was also passed, with a majority vote of 94.52% in favor (42,732,062 votes) and 5.48% against (2,478,681 votes).

4. Executive Compensation Advisory Vote
An advisory vote concerning the executive compensation strategy proposed in the management information circular dated March 21, 2025, achieved a positive outcome. A total of 43,134,601 votes (95.72%) were in favor of the compensation approach, while 1,927,051 votes (4.28%) were opposed.

Boardwalk REIT's Commitment to Community

Boardwalk REIT continues to prioritize community-building efforts and aims to be the most preferred choice in multi-family housing in Canada. With over 200 communities and approximately 34,000 residential suites, the trust focuses on creating an environment where residents thrive and feel at home.

Emphasizing a culture of peak performance, the organization is dedicated to delivering outstanding service and quality. The management's structured approach to capital allocation and development not only enhances community living but also ensures long-term operational success.

In conclusion, the 2025 annual meeting outcomes mark a significant step for Boardwalk REIT as it strengthens its governance model. The trust is poised to continue cultivating a nurturing environment for its residents while maintaining responsible investment practices for its stakeholders. Read more about Boardwalk REIT and its initiatives on the official website.