Boardwalk Sells Five Prairie Apartment Properties for $117M
Boardwalk REIT has finalized the sale of five apartment properties in Edmonton, Regina and Saskatoon for a combined price of $117 million.
The transactions involve 563 suites across three Edmonton properties — Capital View Tower, Kingsway Tower and The Edge — as well as Lockwood Arms Apartments in Regina and Lawson Village in Saskatoon. The properties are being sold to two separate purchasers, with closings expected in May 2026.
According to Boardwalk’s first-quarter 2026 financial report, the Capital View Tower and Kingsway Tower sale is valued at $40 million, representing about $212,000 per suite for 189 suites. The Edge, together with the Regina and Saskatoon assets, is being sold for $77 million, or about $206,000 per suite for 374 suites.
The REIT said the dispositions are part of its broader capital allocation strategy aimed at recycling capital into opportunities expected to enhance cash flow and maximize risk-adjusted returns. Including previously announced transactions, Boardwalk’s total dispositions year-to-date in 2026 reached $306 million across 1,552 suites.
Boardwalk also increased its full-year asset-sale target to between $400 million and $500 million.
Pictured: The Edge apartment tower in Edmonton.
Photo: Boardwalk REIT
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