Boardwalk Completes New Mortgage Financings For $131.1 Million.CALGARY, ALBERTA--(BUSINESS WIRE)--June 23, 1998-- Boardwalk(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BEI Bei (pā, bā), river, c.200 mi (320 km) long, formed by the union of two headstreams in the Nanling Mts., N Guangdong prov., S China. It flows S into the Xi River, E of Guangzhou, to form the Pearl River delta. .) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :BEI.) Boardwalk Equities Inc. ("BEI" - TSE, ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ) is pleased to announce the finalization of new mortgage financings on 24 projects totalling $131.1 million. The mortgages carry a current blended interest rate of 6.19 percent, with the provision for an overall reduction to 5.95 percent concurrent with CMHC CMHC community mental health center. financing on some projects. The blended term for all the mortgages on a weighted average basis is 7.3 years. Coupled with decreasing vacancy rates and rising rental levels in all its markets, Boardwalk's ability to secure long term debt on such favourable terms bodes well for the Company's continued improvement in operating cash flows. Boardwalk Equities Inc. is a customer oriented, technologically advanced real estate company specializing in the acquisition and management of multi-family residential projects throughout Western Canada. Boardwalk owns or has contracted to acquireover 20,000 units representing 17 million net rentable square feet. Fax back information service is also available at (403) 531-9321. Information can also be found on the Internet at http://www.bwalk.com "to efficiently provide the best value in carefree living at competitive prices and utmost customer satisfaction" The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and The Alberta Stock Exchange have neither approved nor disapproved the information contained herein.
CONTACT: Boardwalk Equities Inc.
Sam Kolias, 403/531-9255
403/ 531-9565 (FAX)
http://www.bwalk.com
Fax Back: 403/531-9321
or
Boardwalk Equities Inc.
George Reti, 403/531-9255
or
Boardwalk Equities Inc.
Massimo Geremia, 403/531-9255
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