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Boardwalk REIT Second Quarter 2004

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Acquisition and Disposition Activity<br />

A<br />

Buil<br />

Q1 2<br />

Com<br />

cquisitions<br />

ding Name<br />

004<br />

plexe Laudance<br />

Date Aquired<br />

2/11/04<br />

City<br />

Saint-Foy/Quebec City, QC<br />

Units<br />

183<br />

Purchase<br />

Price<br />

$ 16,850,000<br />

Price/<br />

Unit<br />

$92,077<br />

Going in<br />

Cap Rate<br />

7.96%<br />

Avg.<br />

Sq. Ft.<br />

735<br />

Price/<br />

Sq.Ft.<br />

$ 125.3<br />

For<br />

Residenc<br />

Q2 <strong>2004</strong><br />

Domaine<br />

du Rocher<br />

est Glade Townhomes<br />

5/13/<strong>2004</strong><br />

5/17/<strong>2004</strong><br />

Levis/Quebec City, QC<br />

Windsor, ON<br />

64<br />

31<br />

$ 3,500,000<br />

$ 2,500,000<br />

$54,688<br />

$80,645<br />

7.65%<br />

9.53%<br />

1065<br />

1250<br />

$ 51.3<br />

$ 64.5<br />

e le Quatre Cent<br />

Q2<br />

Total<br />

5/26/<strong>2004</strong> Laval/Montreal, QC 259<br />

354<br />

$ 17,300,000<br />

$ 23,300,000<br />

$66,795<br />

$65,819<br />

8.01%<br />

8.08%<br />

593<br />

736<br />

$ 112.6<br />

$ 89.4<br />

Total<br />

537 $ 40,150,000 $74,767 8.04% 736 $ 101.6<br />

Supplemental Information Package 16 <strong>Second</strong> <strong>Quarter</strong> <strong>2004</strong><br />

<strong>Boardwalk</strong> <strong>REIT</strong>

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