Boardwalk Sells Three Apartment Properties in Quebec City

Boardwalk Sells Three Apartment Properties in Quebec City
News| April 7, 2026| Monte Stewart
Canada + Apartment Buildings

Boardwalk REIT has sold three apartment communities in Quebec City for a combined $97 million.

The properties—Place Charlesbourg, Place Chamonix and Place Samuel de Champlain—comprise 484 suites and were sold at approximately $200,000 per unit as part of the trust’s ongoing capital recycling program.

The trust also completed the sale of Valley Ridge Tower in Edmonton for $8 million. The 49-suite asset traded at roughly $163,000 per unit.

Two separate buyers purchased the Quebec City portfolio and Edmonton asset, respectively, Boardwalk announced in an update on its capital-allocation initiatives and leasing performance.

Sam Kolias, Calgary-based Boardwalk’s chairman and CEO, said the REIT continues to source capital actively from dispositions at private-market valuations that are in line with International Financial Reporting Standards (IFRS) values.

“Throughout the first quarter of 2026, we have prioritized redeployment into our normal-course issuer bid (NCIB) which is currently providing an exceptional opportunity to purchase our own high-quality portfolio at a significant discount to net asset value (NAV),” said Kolias.

Boardwalk reported same-property portfolio occupancy of 97.1% as of April 2026, reflecting continued stability in leasing performance.

“While we continue to see more choice at the higher price points, our significant reinvestment in our communities over the last several years provides an exceptional value proposition to our stakeholders,” said Kolias. “The trust remains well-positioned with our largest market of Alberta leading the country in economic growth, having the lowest debt-to-GDP and having some of the best affordability in the country.”

Boardwalk reported same-property portfolio occupancy of 97.1% as of April 2026, reflecting continued stability in leasing performance.

Pictured: Place Charlesbourg in Quebec City:

Photo: YouTube/Boardwalk REIT

Other News

RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community

Atlanta & Southeast + Apartment Buildings

An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...

Learn more

Pasadena Offices Sell for Residential Conversion

California & West + Apartment Buildings

NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...

Learn more

Berkadia Negotiates Student Housing Property Sale in Kansas

Chicago & Midwest + Student Housing

Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up