Boardwalk REIT ("Boardwalk", "the Trust", "We") is providing a brief operational update highlighting continued strength in occupancy and steadily increasing occupied rents heading into the busier spring leasing season, as we continue to provide quality homes and exceptional value to Boardwalk's Resident Members while delivering growth and value for our stakeholders.
Same Property Portfolio Occupancy
Apr-23 | May-23 | Jun-23 | Jul-23 | Aug-23 | Sep-23 | |
Same Property | 98.4 % | 98.3 % | 98.3 % | 98.3 % | 98.5 % | 98.6 % |
Oct-23 | Nov-23 | Dec-23 | Jan-24 | Feb-24 | Mar-24 | |
98.9 % | 98.9 % | 99.0 % | 99.0 % | 98.8 % | 98.8 % | |
Apr-24 | ||||||
98.8 % |
1 Preliminary occupancy as of the first day of each month |
Occupied Rent
Feb-23 | Mar-23 | Apr-23 | May-23 | Jun-23 | Jul-23 | |
Occupied Rent 2 | ||||||
Aug-23 | Sep-23 | Oct-23 | Nov-23 | Dec-23 | Jan-24 | |
Feb-24 | ||||||
2 Occupied rent is a component of rental revenue and represents same properties only. It is calculated for occupied suites as of the first day of each month as the average rental revenue, adjusted for other rental revenue items such as fees, specific recoveries, and revenue from commercial tenants. |
"As we enter our higher volume spring leasing season, we are well-positioned for continued strong apartment rental fundamentals in our largest markets. Occupancy at our communities remains high, while our approach to self-moderation of rental adjustments in our non price-controlled markets increases our Resident retention while lowering our turnover costs and extending our runway for future growth.
Timing of Boardwalk REIT's First Quarter Financial Results
Boardwalk REIT's financial results for the three-month period ended
We invite you to participate in the teleconference to be held to discuss these results the following day (
Teleconference:
To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3VvoqVD to receive an instant automated call back.
You can also dial direct to be entered to the call by an operator using the traditional conference call instructions below.
The telephone numbers for the conference are toll-free 1-888-664-6383 (within
Note: Please provide the operator with the below Conference Call ID or Topic when dialing in to the call.
Conference ID: 36545838
Topic:
Webcast:
Investors will also be able to listen to the call and view the slide presentation by visiting www.bwalk.com/investors on the morning of the call. An information page will be provided for any software and system requirements. The live webcast will also be available by clicking below:
Boardwalk REIT First Quarter Results Webcast Link
Corporate Profile:
Boardwalk REIT strives to be
Boardwalk REIT's Trust Units are listed on the
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Information in this news release that is not current or historical factual information may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning applicable of securities laws. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe", "intend" and similar expressions are intended to identify forward-looking statements. Implicit in these forward-looking statements, particularly in respect of Boardwalk's objectives for its current and future periods, Boardwalk's strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, assumptions, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations are estimates and assumptions subject to risks and uncertainties which could cause Boardwalk's actual results to differ materially from the forward-looking statements contained in this news release. Specifically, Boardwalk has made assumptions surrounding the impact of economic conditions in
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