The Calgary-based Boardwalk Real Estate Investment Trust (REIT) is among the REITs posting higher year-over-year revenues amid a stubbornly tight rental market.
In the first half of the year, the trust — which owns more than 33,000 apartment units, most of them in Alberta — saw its same-property net operating income (NOI) grow by 13 per cent compared to the same period last year.
Same-property NOI is a popular measure of profitability in the real estate sector that looks at revenues from properties, minus operating expenses, and controls for events like acquisitions and dispositions that might skew the numbers.
Boardwalk says its growth was driven in
