CALGARY, June 18, 2013 /CNW/ - Boardwalk Real Estate Investment Trust ("BEI.UN" - TSX)
Around 11 a.m. on Sunday, June 16th, Boardwalk Rental Communities (Boardwalk) building, Oak Tower, in Edmonton, AB, experienced a terrible fire. Boardwalk is currently doing everything we can to cooperate with local law enforcement and emergency response teams to ensure that our Resident Members are provided with a safe place to sleep in the form of suite transfers and hotels. We would like to express our thanks and appreciation to local law enforcement and emergency response teams for handling this situation quickly, calmly and with kindness.
Boardwalk has already begun building clean-up in an effort to get Residents back in their homes as soon as possible. In addition, Boardwalk has helped Residents connect with their insurance companies as well as provided information for those Residents who may not have insurance. To protect the belongings left behind by Residents, Boardwalk has placed 24-hour security on site at Oak Tower.
As a company, we are deeply saddened by the events that took place on June 16th. "Our thoughts prayers and deepest sympathies are with the victims and their families and friends of the fire that took place at Oak Tower," said Sam Kolias, CEO and Chairman of the Board of Boardwalk Rental Communities. "It is a tragedy to have lost two valued members of our community, and our condolences go out to the family and friends of these two individuals."
Boardwalk has provided Residents with the contact information for Red Cross, as well as a victim support service in order to assist in the recovery and support of those affected by the fire. In addition, Boardwalk has also reached out to their Associates with respect to this tragedy to support them through this time.
About Boardwalk REIT
Boardwalk REIT is Canada's friendliest landlord and currently owns and operates more than 225 properties with 35,277 residential units (as at March 31, 2013) totaling approximately 30 million net rentable square feet. Boardwalk's principal objectives are to provide its Residents with the best quality communities and superior Customer Service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its Trust Units through selective acquisitions, dispositions, and effective management of its residential multi-family properties. Boardwalk REIT is vertically integrated and is Canada's leading owner/operator of Multi-Family Communities with 1,600 Associates bringing Customers home to properties located in Alberta, Saskatchewan, Ontario, Quebec, and British Columbia.
Boardwalk REIT's Trust units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. The Trust's total Enterprise Value as of March 31, 2013 was approximately $5.5 billion. Additional information about Boardwalk REIT can be found on the Trust's website at www.BoardwalkREIT.com.
SOURCE: Boardwalk Real Estate Investment Trust
For further information:
Director of Community Development
Director of Mortgage and Finance