Continuing to catch up on stories I couldn’t cover during the internet dark ages last month… the latest financials from Boardwalk came out, and with them some quarterly stats on the markets they serve. And after a quick look-see, it would seem the theme of the 3rd quarter of two-odd-ten.
On the rents front, not a whole lot changed it seems. Occupied rents were virtually unchanged, while market rents (asking prices) tracked up a tad. Market rents for Boardwalk in Calgary now stand at $1152, while in Edmonton they are $1050. Compared to the rest of Boardwalks portfolio around the country, in B.C. it’s $1049, in Saskatchewan $1028, $970 in Quebec, and $787 in Ontario.
Vacancy wise, Edmonton has stayed pretty consistent at 3%… Calgary is a tad lower, and a bit more volatile and as October sits at 2.6%. So Boardwalk continues to enjoy vacancy rates significantly lower in these markets then other rental outlets. Though that is not surprising, as with a much larger and established collection of properties they are much quicker to notice market conditions and respond accordingly.
