Boardwalk REIT has completed the sales of five apartment properties in Edmonton, Regina and Saskatoon for a combined price of $117 million.

The assets were sold to a pair of separate buyers, Boardwalk said in an activity update.

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. 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.

“Our team remains active recycling capital from dispositions at private market valuations, which are in line with our IFRS values, for disciplined reinvestment into accretive initiatives, while improving our balance sheet over time,” said Sam Kolias, Boardwalk’s chairman and CEO.

So far this year, Boardwalk has prioritized redeployment into its stock-repurchase program, which is currently providing an “exceptional counter-cyclical opportunity” to purchase the REIT’s high-quality portfolio at a significant discount to net asset value, he added.

Boardwalk previously increased its full-year asset-sale target to between $400 million and $500 million.

Meanwhile, Kolias said, 97% of

Pictured: The Edge apartment tower in Edmonton.

Photo: Boardwalk REIT