TSX SYMBOL: BEI.UN July 19, 2004
Boardwalk REIT Announces July 2004 Monthly Distribution
Calgary, Alberta – July 19, 2004 Boardwalk Real Estate Investment Trust (“BEI.UN” – TSX) has declared its July, 2004 distribution in the amount of 10.3 cents per unit ($1.24 annualized). The July distribution will be payable on August 15, 2004 to unitholders of record on July 31, 2004. 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 31,400 units totalling approximately 26 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.
