#Canada #Calgary #Grande Prairie #Boardwalk REIT #Alberta

Boardwalk REIT's Operational Update and Insights on Third Quarter Results

On October 5, 2026, Boardwalk Real Estate Investment Trust (REIT), traded under the TSX symbol BEI.UN, shared a comprehensive operational update, showcasing recent developments in its leasing activities and capital allocation strategies. As the Canadian real estate market navigates an era of strong demand, Boardwalk's results illustrate how the company is poised for success.

Strong Leasing Activity Brings Occupancy Gains

Boardwalk's Chairman and CEO, Sam Kolias, expressed optimism regarding the latest leasing trends. The trust experienced notable leasing activity at the end of summer, leading to increased occupancy rates in September and October. This growth reflects a resilient demand for housing in the communities served by Boardwalk, reinforcing the effectiveness of the company's operational model.

Kolias emphasized that Canada’s ambition to become a global energy power is a crucial factor benefiting Boardwalk. The recent designation of the Pacific Link pipeline project underscores the centrality of energy in the nation’s economic strategy, particularly benefiting Alberta in terms of job creation and investment opportunities.

Strategic Capital Allocation and Dispositions

In a continued effort to optimize its portfolio, Boardwalk is selling non-core properties at values aligned with International Financial Reporting Standards (IFRS), directing proceeds into high-quality investments. The recent sale of the Northern Lights Portfolio in Grande Prairie for approximately CAD 30.2 million exemplifies this strategy. By capitalizing on strong market demand, Boardwalk retains exposure to growth while enhancing its portfolio
quality.

As part of the update, Boardwalk indicated that efforts are focused on providing exceptional housing experiences for Canadians and increasing free cash flow per unit. This disciplined approach aids in the continuous strengthening of its balance sheet.

Performance Metrics and Portfolio Updates

Boardwalk's operational update also included a revision of their presentation metrics. The trust now prominently features occupancy rates and rent levels, with total portfolio occupancy reported at 97.1% as of October. Meanwhile, same property metrics, indicative of properties owned for over two years, also boasted a healthy occupancy of 97.2%.

The following financial metrics showcased stability in rental income:

• - Third Quarter Average Occupied Rent: CAD 1,653, marking a sustained growth trajectory.
• - Same Property Average Occupied Rent: CAD 1,609, up from previous quarters.

Future Financial Results

Investors and stakeholders can anticipate Boardwalk REIT's financial results for the third quarter, concluding on September 30, 2026, to be disclosed after market closure on November 3, 2026. Following this, a teleconference is scheduled for November 4 at noon Alberta Time, where senior management will discuss results and provide additional insights into the company’s future.

In conclusion, Boardwalk REIT’s operational updates signal a promising outlook, driven by strong performance metrics, strategic property sales, and solid foundational influences from the wider economic context in Canada. As the market evolves, Boardwalk's commitment to enhancing tenant experiences and maintaining fiscal discipline positions it for ongoing success in the ever-changing real estate landscape.