Canada’s Killam Properties Shows Steady Growth

Yahoo! Finance says Killam Properties, Inc. of Halifax, Nova Scotia, Canada reports for the second quarter 2012 funds from operations (FFO) increased 5.7% over the same period 2011, while revenue from property rose 9.6% 2012 over 2011, $33,679,000 over $30,735,000. Net operating income increased to $20,518,000 in 2012 from $18,687,000 in the second quarter of 2011. Funds from operations for Q2 2012 was up 16.2%, $9,179,000 over $7,896,000 in the second quarter of 2011. Same store net operating income (NOI) increased by 2.7%, and same store rental growth rose 1.7%. On June 4, 2012 MHProNews reported Killam sold 12 MHCs to Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), and acquired from CAPREIT a 199 suite apartment property in Toronto for $33.5 million. For the full report of the company’s Q2 2012 financials, please click here.

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