Expanding Calgary's PortfolioPublished: December 10, 2018
Boardwalk is pleased to announce that it has added four new communities to its growing portfolio: Dorsett Square, Randal House, Beddington Court, and Village Vale. The acquisitions will add an additional 299 units to Boardwalk’s existing collection of high-quality multi-family properties. Three of the four communities are conveniently located close to existing Boardwalk communities, representing an opportunity to achieve significant operating efficiency.
Sam Kolias; Chairman and Chief Executive Officer of Boardwalk REIT commented: “The rental market re-balancing and improvement from a cyclical bottom has provided us with the confidence to expand our portfolio in Alberta. We are proud to announce the acquisition of a 299-unit portfolio in Calgary which provides a significant mark-to-market opportunity on in-place rents while also adding further operating efficiencies given their proximity to our existing communities.”
Earlier this year, Boardwalk introduced three new distinct brands which offer various price points, value and service. All four acquisitions will be branded as Communities buildings and will feature modernised suites and choice amenities for those who value flexibility with all the comforts that come with a home.
Rob Geremia; President of Boardwalk REIT added: “We have made substantial progress in the last couple of years to ensure our communities provide our residents with the best product quality, service and experience at an affordable price point. We are well positioned to further accelerate through this rental market recovery.”
Boardwalk is working hard to make the transition as seamless as possible for its existing residents. In doing so, we welcome the existing on-site associates in addition to maintaining current rents. We are excited about this new chapter in the Boardwalk story and look forward to getting to know each of our new residents.
Follow the links to learn more about Boardwalk’s new communities or to book a viewing.