Boardwalk's Jan. 1 same-property occupancy at 97.5%

Executive Summary

• Boardwalk REIT reported a 97.5% occupancy rate at the start of 2026, driven by strategic rental rate flexibility and high resident retention during the winter leasing season.
• The trust finalized the disposition of three multifamily communities (Terrace Garden Estates, Tower Hill, and The Palisades) for combined gross proceeds of $56.5 million, with proceeds earmarked for reinvestment via its Normal Course Issuer Bid (NCIB).
• Q4 and full-year 2025 financial results will be released after market close on Feb. 19, 2026, followed by a senior management teleconference on Feb. 20, 2026.

Key Details

• Occupancy & Operations: Maintained steady 97.5% occupancy at the beginning of 2026, reflecting strong demand for affordable housing and successful retention strategies in a competitive leasing environment.
• Dispositions: Closed on Terrace Garden Estates; finalized sales of Tower Hill and The Palisades for combined gross sales proceeds of $56.5 million. Closings for Tower Hill and The Palisades are expected in January 2026. Combined consideration is materially in line with the trust's IFRS values for the three communities.
• NCIB Activity (Nov/Dec 2025): Invested approximately $20.5 million into its NCIB at a weighted average price of $63.81 per unit.
• NCIB Activity (Full Year 2025): Invested approximately $57.3 million into its NCIB at a weighted average price of $63.80 per unit. Strategy focuses on repurchasing units at a discount to NAV to reinvest disposition proceeds and free cash flow into value-add capital.
• Earnings Release: Q4 and 12-month results for the period ended Dec. 31, 2025, will be published after markets close on Feb. 19, 2026.
• Teleconference Details: Scheduled for Feb. 20, 2026, at 11:00 AM MT / 1:00 PM ET. Toll-free (NA): 1-888-510-2154 | International: 1-437-900-0527 | Conference ID: 74984.

Notable Quotes

• "As we begin 2026, we remain focused on providing the best value in multifamily communities in Canada. Our occupancy rate of 97.5 per cent to begin the year is a reflection of the quality and resilience of our communities in a more competitive leasing environment compared to a year ago." – Sam Kolias, Chairman & CEO
• "Two thousand twenty-five was an active year for sourcing capital from dispositions at private market valuations for reinvestment into accretive initiatives to supplement the trust's organic growth. We are pleased to announce the disposition of three additional communities, providing further liquidity to the trust to begin the year." – Sam Kolias, Chairman & CEO
• "The trust continues to prioritize the proceeds from dispositions at or near NAV into reinvestment in the trust's own units through its NCIB representing a discount to NAV and taking a balanced, opportunistic approach to investing our free cash flow into value-add capital to maximize free cash flow while maintaining a strong balance sheet." – Sam Kolias, Chairman & CEO