Boardwalk Real Estate Investment Trust

CALGARY, April 18  - Boardwalk Real Estate
Investment Trust ("BEI.UN" - TSX) has declared its April 2006 distribution
in the amount of 10.5 cents per Trust unit ($1.26 annualized). The April
distribution will be payable on May 15, 2006 to unitholders of record on
April 28, 2006.
To encourage participation and reward unitholders, investors registered
in the Distribution Reinvestment Plan ("DRIP") will continue to receive a
"bonus" distribution of additional Trust Units representing 3% of the
amount of their cash distributions reinvested pursuant to the Plan. A full
copy of the DRIP can be found on Trust's website at http://www.boardwalkREIT.com.
Corporate Profile
Boardwalk REIT is Canada's largest owner/operator of multi-family
rental communities. Boardwalk REIT currently owns and operates in excess of
260 properties with over 33,300 rental units totalling approximately 28
million net rentable square feet. The Trust's portfolio is concentrated in
the provinces of Alberta, British Columbia, Saskatchewan, Ontario and
Quebec. Boardwalk REIT's Trust units are listed on the Toronto Stock
Exchange, trading under the symbol BEI.UN.
Forward Looking Information
This press release may contain forward looking statements. These
statements relate, but are not limited to, Boardwalk REIT's expectations,
intentions, plans and beliefs. These forward looking statements can
generally be identified by the use of words "anticipated", "expected" or
the negative thereof or other comparable terminology. You should be aware
that these statements are subject to known and unknown risks, uncertainties
and other factors, including the risks discussed under the heading "Risk
Factors" in the Management Information Circular of Boardwalk Equities Inc.
available on http://www.sedar.com. Actual events or results may differ materially
from those suggested by any forward-looking statements. You should not
place undue reliance on any forward-looking statements contained in this
press release. By their nature, forward-looking statements involve numerous
assumptions, inherent risks and uncertainties, both general and specific,
that contribute to the possibility that the predictions, forecasts,
projections and various future events will not occur. Although management
of Boardwalk REIT believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no assurances that
future results, levels of activity, performance or achievements will occur
as anticipated. None of Boardwalk REIT nor any other person assumes
responsibility for the accuracy and completeness of any forward-looking
statements, and no one has any obligations to update or revise any
forward-looking statement, whether as a result of new information, future
events or such other factors which affect this information, except as
required by law.



SOURCE Boardwalk Real Estate Investment Trust