Boardwalk REIT Acquires 158-Suite High-Rise in Calgary’s Beltline for $62 Million
- ClearView Insider
- Aug 26
- 1 min read
Boardwalk Real Estate Investment Trust has announced the acquisition of The Arch, a 158-suite high-rise residential community located in Calgary’s centrally located Beltline neighbourhood. The transaction, valued at $62.0 million (excluding transaction costs and closing adjustments), reflects a price of approximately $392,000 per suite and a stabilized cap rate of 5.1%.
Completed in 2015, The Arch offers large suite layouts with an average unit size of 982 square feet, aligning with growing tenant demand for spacious, modern rental housing in well-connected urban locations. The Beltline district remains a strategic submarket in Calgary, known for its proximity to downtown, cultural amenities, and vibrant lifestyle offerings.
The REIT will assume an existing mortgage as part of the deal, with a balance of approximately $27.1 million at a fixed interest rate of 2.84%, maturing in approximately two years. The acquisition is expected to close in August 2025.
This transaction highlights Boardwalk’s continued investment in Calgary’s multifamily sector and signals confidence in the city’s long-term rental market fundamentals.