Boardwalk REIT is selling its portfolio of 1,685 Windsor apartment units, including at Buckingham Tower (above), to Skyline Apartment REIT for $136M. CEO Sam Kolias told the Financial Post the buyer (not disclosed by the trust but reported by the Post) made an unsolicited offer, “but we thought the price was a fair one.” Boardwalk owns and operates 220 communities with 34,000 units. The trust is reviewing select non-core properties with the intent of “high-grading” its portfolio by redeploying equity from the assets toward "value-enhancing transactions,” such as acquisitions, development and capital improvements. [FP]
REIT Meets REIT. Huge Windsor Portfolio Changes Hands.
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Related Topics:
Boardwalk REIT
, Buckingham Tower
, Financial Post
, Sam Kolias
, Skyline Apartment REIT
, Windsor
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