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Boardwalk pays $77.8M for newly built Calgary apartment complex

Property offers operating efficiencies in a growing neighbourhood
Boardwalk REIT acquired 1130 Seton Circle SE, Calgary, for $77.8 million, or $263,729 a door.

DEAL | Boardwalk REIT closed its purchase of The Circle, a 295-suite multifamily rental property in Calgary, Alberta on Jan. 24 for $77.8 million. The property has multiple addresses: 1100-1122, 1074-1096, 1126, 1130, and 1134 Seton Circle SE. The price works out to $263,729 per door.  A conditional agreement for the property was struck in May 2022, and an agreement for the transaction announced Dec. 14, 2023. The property is strategically located near two existing Boardwalk properties, The Level and Auburn Landing, providing operational efficiencies. The Circle is approximately 85% occupied.

PRICE | $77,800,000

FROM | Boardwalk REIT