Boardwalk Real Estate Investment Trust (Boardwalk REIT or the Trust) is an open-ended real estate investment trust. The Trust is an owner and operator of multi-family rental communities. Its principal objectives are to provide its unitholders with cash flow distributions and to increase the value of its units through the management of its residential, multi-family, revenue-producing properties and the acquisition of additional properties. As of December 31, 2007, Boardwalk REIT owned and operated in excess of 260 properties, comprising 36,486 residential units, totaling approximately 30 million net rentable square feet. Its property portfolio is concentrated in the provinces of British Columbia, Alberta, Saskatchewan, Ontario and Quebec. During the year ended December 31, 2007, the Trust acquired 2,421 new units, all of which were located in western Canada. In 2007, the Company sold one multi-family residential property consisting of 51 units, located in Edmonton, Alberta.
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