TSX SYMBOL: BEI.UN January 17, 2005
Boardwalk REIT Announces January 2005 Monthly Distribution
Calgary, Alberta – January 17, 2005
- Boardwalk Real Estate Investment Trust ("BEI.UN" - TSX)
Boardwalk Real Estate Investment Trust (“BEI.UN” – TSX)
has declared its January 2005 distribution in the amount
of 10.5 cents per unit ($1.26 annualized). The January
distribution will be payable on February 15, 2005 to
unitholders of record on January 31, 2005.
To encourage participation and reward unitholders,
investors registered in the Distribution Reinvestment
Plan (“DRIP”) will continue to receive a “bonus”
distribution of additional Trust Units representing 3%
of the amount of their cash distributions reinvested
pursuant to the Plan. A full copy of the DRIP can be
found on Trust’s website at www.boardwalkREIT.com.
Corporate Profile
Boardwalk REIT is an open-ended real estate investment
trust formed to acquire all of the assets and
undertakings of Boardwalk Equities Inc. Boardwalk
REIT’s principal objectives are to provide its
unitholders with monthly cash distributions, partially
on a Canadian income tax-deferred basis, and to
increase the value of its units through the effective
management of its residential multi-family revenue
producing properties and the acquisition of additional
properties. Boardwalk REIT currently owns and operates
in excess of 250 properties with over 32,000 units
totalling approximately 27 million net rentable square
feet, and is Canada’s largest owner/operator of
multi-family rental communities. Boardwalk REIT’s
portfolio is concentrated in the provinces of Alberta,
Saskatchewan, Ontario and Quebec.
Forward Looking Information
This press release may contain forward looking statements.
These statements relate, but are not limited to,
Boardwalk REIT’s expectations, intentions, plans and
beliefs. These forward looking statements can
generally be identified by the use of words
“anticipated”, “expected” or the negative thereof or
other comparable terminology. You should be aware
that these statements are subject to known and unknown
risks, uncertainties and other factors, including the
risks discussed under the heading “Risk Factors” in the
Management Information Circular of Boardwalk Equities Inc.
available on www.sedar.com. Actual events or results may
differ materially from those suggested by any
forward-looking statements. You should not place undue
reliance on any forward-looking statements contained
in this press release.
By their nature, forward-looking statements involve
numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the
possibility that the predictions, forecasts,
projections and various future events will not occur.
Although management of Boardwalk REIT believes that the
expectations reflected in the forward-looking statements
are reasonable, there can be no assurances that future
results, levels of activity, performance or achievements
will occur as anticipated. None of Boardwalk REIT nor
any other person assumes responsibility for the accuracy
and completeness of any forward-looking statements, and
no one has any obligations to update or revise any
forward-looking statement, whether as a result of new
information, future events or such other factors which
affect this information, except as required by law.
For further information please contact:
Boardwalk REIT
Sam Kolias,
President and CEO,
(403) 531-9255;
Roberto Geremia,
Senior Vice President, Finance
and Chief Financial Officer,
(403) 531-9255;
Paul Moon,
Director of Corporate Communications,
(403) 531-9255.
