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

BEI · Price
Executive Summary
- Boardwalk REIT reports steady Q4‑2025 occupancy at ~97.5% and incremental rent growth, indicating strong operational performance.
- The Trust disclosed $56.5 million of dispositions (Terrace Garden Estates, Tower Hill, The Palisades) and $551.5 million of acquisitions in 2025, reflecting active capital allocation.
- Q4‑2025 financial results will be released on February 19 2026 with a management teleconference the following day.
Key Details
- Occupancy: Same‑property occupancy remained between 97.5% and 98.1% from Oct 2024 through Jan 2026 (preliminary monthly figures).
- Occupied Rent: Quarterly simple average rent increased from $1,515 in Q4 2024 to $1,587 in Oct‑Nov 2025.
- NCIB Activity: Invested ~$20.5 M in Nov‑Dec 2025 at a weighted‑average price of $63.81; total 2025 NCIB investment was $57.3 M at $63.80 average.
- Dispositions (2025/early 2026):
- Terrace Garden Estates – $19.5 M gross, $171k per suite, 114 suites, exit cap 5.9%.
- Tower Hill & The Palisades – $37.0 M gross, $210k per suite, 176 suites, exit cap 4.7%.
- Total disclosed dispositions: $277.6 M gross for 1,382 suites (average price $201k per suite).
- Acquisitions (2025):
- Elbow 5 Eight – $93.0 M purchase, $365k per suite, 255 suites.
- North Prairie Townhomes – $71.1 M purchase, $303k per suite, 235 suites.
- Brio (50% interest) – $37.4 M purchase, $462k per suite, 81 suites.
- The Arch – $62.0 M purchase, $392k per suite, 158 suites.
- Central Parc 1‑3 – $249.0 M purchase, $460k per suite, 541 suites.
- 639 Main Street – $39.0 M purchase, $368k per suite, 106 suites.
- Total acquisitions: $551.5 M for 1,376 suites (average price $401k per suite).
- Financial Results Timing: Q4‑2025 and FY‑2025 results to be released after markets close on February 19 2026; management teleconference scheduled for February 20 2026 at 11:00 am MT / 1:00 pm ET.
- Teleconference Access: Toll‑free 1‑888‑510‑2154 (North America) or 1‑437‑900‑0527 (International); Conference ID 74984; webcast available on www.bwalk.com/investors.
Notable Quotes
“Our occupancy rate of 97.5% to begin the year is a reflection of the quality and resilience of our communities… we remain focused on providing the best value in multi‑family communities in Canada.” – Sam Kolias, Chairman & CEO
All non‑material boilerplate, forward‑looking statements, and corporate profile text have been omitted for clarity.
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