Portfolio Summary (above) Nuns Island, Montreal QC Radisson Village, Calgary AB 30 / Operations RevIEW <strong>Boardwalk</strong> <strong>REIT</strong> / AR <strong>2012</strong>
Oakhill Estates, Calgary AB Spruce Ridge Estates, Calgary AB <strong>Boardwalk</strong> Centre, Edmonton AB Property Name Building Type Number of Units Net Rentable Square Footage Average Unit Size Property Name Building Type Number of Units Net Rentable Square Footage Average Unit Size Calgary, AB Beltline Towers Highrise 115 80,424 699 <strong>Boardwalk</strong> Heights Highrise 202 160,894 797 Brentview Towers Highrise 239 151,440 634 Centre Pointe West Highrise 123 110,611 899 Chateau Highrise 145 110,545 762 Elbow Tower Highrise 158 108,280 685 Flintridge Place Highrise 68 55,023 809 Glamorgan Manor Garden 86 63,510 738 Hillside Estates Garden 76 58,900 775 Lakeside Estates Garden 89 77,732 873 Lakeview Walkup 120 107,680 897 McKinnon Court Garden 48 36,540 761 McKinnon Manor Garden 60 43,740 729 Northwest Pointe Garden 150 102,750 685 Oak Hill Estates Townhouse 240 236,040 984 O’Neil Tower Highrise 187 131,281 702 Patrician Village Garden 392 295,600 754 Pineridge Garden 76 52,275 688 Prominence Place Apts. Garden 75 55,920 746 Radisson Village I Townhouse 124 108,269 873 Radisson Village II Townhouse 124 108,015 871 Radisson Village III Townhouse 118 124,379 1,054 Ridgeview Gardens Townhouse 160 151,080 944 Royal Park Plaza Highrise 86 66,137 769 Russet Court Townhouse 206 213,264 1,035 Sarcee Trail Place Highrise/ Midrise 376 301,720 802 Skygate Tower Highrise 142 113,350 798 Spruce Ridge Estates Garden 284 196,464 692 Travois Garden 89 61,350 689 Varsity Place Walk-up 70 47,090 673 Varsity Square Midrise/ Lowrise 297 241,128 812 Vista Gardens Garden 100 121,040 1,210 Westwinds Village Garden 180 137,815 766 Willow Park Gardens Garden 66 44,563 675 5,071 4,074,849 804 Edmonton, AB Alexander Plaza Garden 252 203,740 808 Aspen Court Garden 80 68,680 859 <strong>Boardwalk</strong> Arms A & B Garden 78 64,340 825 <strong>Boardwalk</strong> Centre Highrise 597 471,871 790 <strong>Boardwalk</strong> Village I II & III Townhouse 255 258,150 1,012 Breton Manor Garden 66 57,760 875 Briarwynd Court Townhouse 172 144,896 842 Brookside Terrace Garden 131 196,779 1,502 Cambrian Place Garden 105 105,008 1,000 Edmonton, AB (continued) Camelot Garden 64 54,625 854 Capital View Tower Highrise 115 71,281 620 Carmen Garden 64 54,625 854 Castle Court Garden 89 93,950 1,056 Castleridge Estates Townhouse 108 124,524 1,153 Cedarville Garden 144 122,120 848 Christopher Arms Garden 45 29,900 664 Corian Garden 153 167,400 1,094 Deville Highrise 66 47,700 723 Ermineskin Place Highrise 226 181,788 804 Fairmont Village Garden 424 362,184 854 Fontana Place Highrise 62 40,820 658 Fort Garry House Highrise 93 70,950 763 Galbraith House Highrise 163 110,400 677 Garden Oaks Garden 56 47,250 844 Granville Square Townhouse 48 53,376 1,112 Greentree Village Garden 192 156,000 813 Habitat Village Townhouse 151 129,256 856 Imperial Tower Highrise 138 112,050 812 Kew Place Townhouse 108 105,776 979 Lansdowne Park Highrise 62 48,473 782 Leewood Village Garden 142 129,375 911 Lord Byron I II & III Highrise 158 133,994 848 Lord Byron Townhouses Townhouse 147 172,369 1,173 Lorelei House Garden 78 65,870 844 Maple Gardens Garden 181 163,840 905 Marlborough Manor Garden 56 49,582 885 Maureen Manor Highrise 91 64,918 713 Meadowside Estates Garden 148 104,036 703 Meadowview Manor Garden 348 284,490 818 Monterey Pointe Garden 104 83,548 803 Morningside Estates Garden 221 166,315 753 Northridge Estates Garden 180 103,270 574 Oak Tower Highrise 70 51,852 741 Parkside Tower Highrise 179 162,049 905 Parkview Estates Townhouse 104 88,432 850 Pembroke Estates Garden 198 198,360 1,002 Pinetree Village Garden 142 106,740 752 Point West Townhouses Townhouse 69 72,810 1,055 Primrose Lane Garden 153 151,310 989 Prominence Place Highrise 91 73,310 806 Redwood Court Garden 116 107,680 928 Riverview Manor Garden 81 62,092 767 Royal Heights Highrise 74 41,550 561 Sandstone Pointe Garden 81 83,800 1,035 Sir William Place Garden 220 126,940 577 Solano House Highrise 91 79,325 872 <strong>Boardwalk</strong> <strong>REIT</strong> / AR <strong>2012</strong> Operations RevIEW / 31
- Page 1 and 2: TSX: BEI.UN Annual Report 2012 Deli
- Page 3 and 4: 2012 Highlights Funds From Operatio
- Page 5 and 6: Quebec City 1,319 units 3.7% of por
- Page 7 and 8: Letter to Unitholders Throughout 20
- Page 9 and 10: Financial and Operating Highlights
- Page 11 and 12: Rental Revenue Cycle Move-outs > Mo
- Page 13 and 14: Customers: To work proactively to e
- Page 15 and 16: Associates: Invest in our people to
- Page 17 and 18: Community: To positively impact the
- Page 19 and 20: Corporate Governance: To provide fu
- Page 21 and 22: equests, communicate with Customer
- Page 23 and 24: Les Jardins de Merici, Quebec QC Br
- Page 25 and 26: Throughout 2012, Boardwalk continue
- Page 27 and 28: Health and Safety The dedication an
- Page 29 and 30: Free the Children, We Day Alberta D
- Page 31: Environment Boardwalk encourages Cu
- Page 35 and 36: Riverdale Manor, Windsor ON Christi
- Page 37 and 38: Financial Review Management’s Dis
- Page 39 and 40: Executive Summary Business Overview
- Page 41 and 42: 4. Commitment to expending at least
- Page 43 and 44: Achieving this goal requires the fu
- Page 45 and 46: Cost of Capital In understanding Bo
- Page 47 and 48: PeRFoRMance Review of 2012 Boardwal
- Page 49 and 50: FFO Reconciliations The Trust’s a
- Page 51 and 52: program. Boardwalk continues to be
- Page 53 and 54: For year ended December 31, 2012, B
- Page 55 and 56: Boardwalk REIT’s Portfolio Occupa
- Page 57 and 58: Stabilized revenue increased by 4.1
- Page 59 and 60: subsequent periods as the Trust con
- Page 61 and 62: Other Income and Expenses Income Ta
- Page 63 and 64: Capital Improvements Boardwalk has
- Page 65 and 66: The key valuation metrics for the T
- Page 67 and 68: In addition to this, the Trust curr
- Page 69 and 70: Boardwalk REIT Limited Partnership
- Page 71 and 72: economically insurable. Boardwalk R
- Page 73 and 74: Interest Risk is the combined risk
- Page 75 and 76: Utility expenses, mainly consisting
- Page 77 and 78: Existing Tax Filing Positions Altho
- Page 79 and 80: property (calculated as the differe
- Page 81 and 82: (d) Assets held for sale and discon
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(i) Unit-based payments Equity-sett
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Boardwalk REIT’s financial assets
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(n) Cash Cash is comprised of bank
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Future Changes in Critical Accounti
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Presentation of Financial Statement
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Annual Comparative Twelve Months En
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INDepenDent AUDitoRs’ RepoRT To t
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Consolidated Statements of Comprehe
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Consolidated Statements of Cash Flo
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are internal amounts that are direc
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‘measurement period’ (which can
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Deferred tax Deferred tax is recogn
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Classification Definition Measureme
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and the host contracts are not meas
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Note 3: Future accounting policies
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Note 4: Investment properties As at
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Investment properties with a fair v
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Note 8: tRade and other receivables
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esulting from changes in the fair v
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As at December 31, 2012 and 2011, t
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Note 17: DefeRRed government grant
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(b) Special Voting Units The Declar
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Note 21: Financing costs Financing
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1, 2010 to October 31, 2011 at a pr
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Note 28: Financial instruments (a)
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The three levels of the fair value
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The following table details the Tru
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BPCL represents the only entity whi
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Details of segmented information ar
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(b) Depreciation and amortization T
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Five Year SuMMary 2008 2009 2010 20
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2011 Quarterly Results (in $000’s
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Corporate Information EXECUTIVE OFF