Boulevard Industrial REIT Announces First Quarter 2015 Financial Results
TORONTO, ONTARIO--(Marketwired - May 29, 2015) -
NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES
Boulevard Industrial REIT ("Boulevard" or "the REIT") (TSX VENTURE:BVD.UN) today announced its first quarter financial results for the period ended March 31, 2015.
Q1 2015 Highlights
- Portfolio of initial three industrial properties acquired in New Brunswick during the first quarter of 2014, continue to perform in-line with management's expectations with opportunities for
rent growth in the future.
- There continues to be many attractive industrial real estate acquisition opportunities in the market.
- As at March 31, 2015, the REIT owns a total of 236,692 square feet of industrial real estate with a 93.2% occupancy rate.
The chart below summarizes the net income for the quarter(1):
Net Operating Income | $ | 310,956 | |
Net Income | $ | 124,639 | |
Net Income per Unit | $ | 0.003 |
(1) For more information about the REIT's results of operations, including net income, please refer to the REIT's Interim Consolidated Financial Statements and corresponding MD&A for the three-month period ended March 31, 2015, which are filed on SEDAR at http://www.sedar.com/. |
About Boulevard Industrial REIT
Boulevard Industrial REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT was established to grow and manage a portfolio of light industrial properties in primary and secondary markets in Canada. Its objectives are to general stable cash distributions, expand the asset base of the REIT, increase distributable cash flow and enhance the value of the REIT's assets to maximize long-term unit value.