Boardwalk REIT Announces 2nd-Quarter Results

CALGARY, ALBERTA /PRNewswire-FirstCall/ -- Boardwalk Real Estate Investment Trust ("BEI.UN" - TSX),  Boardwalk Real Estate Investment Trust ("Boardwalk", "Boardwalk REIT" or the "Trust")  announced financial results for the second quarter of 2010:

 Funds From Operations ("FFO") per unit down 5.7% and Distributable Income ("DI") per unit down 5.7% compared to the same period last year; and confirmed its August, September, and October 2010 Monthly Distribution of $0.15 per Trust Unit. FFO and DI are non-GAAP measures; the reconciliation to Net Earnings and Total Operating Cash Flows, respectively, can be found in the Management's Discussion and Analysis (MD&A) for the second quarter ended June 30, 2010, under the section titled, "Performance Measures".(1)

(Calgary skyline bottom right photo)

 During the second quarter of 2010, the Trust sold and closed a total of 293 units in Calgary, Alberta; Regina, Saskatchewan; and Montreal, Quebec.

For a complete copy of the company's news release and financials, please contact:

Boardwalk REIT: Sam Kolias, CEO, (403) 531-9255;
Roberto Geremia, President, (403) 531-9255;
 William Wong, CFO, (403) 531-9255