Halifax, Nova Scotia, Canada-based Killam Properties reports property revenue for the third quarter ending Sept. 30, 2013 rose 9.4 percent over the same period last year, $37,095,000 over $33,894,000, while net operating income increased from $21,442,000 in Q3 2012 to $23,250,000 for the most recent quarter, a gain of 8.4 percent. Funds from operations per share generated during Q3 2013 hit $0.22 as opposed to $0.21 in the comparable quarter last year, a gain of 4.8 percent, according to wsj.com. In addition, apartment occupancy rose from 94 percent occupancy at the end of the second quarter 2013 to 97.1 percent at the end of Q3 2013. Same store rental income increased 1.2 percent, as MHProNews has learned, and same store net operating income (NOI) increased 1.3 percent. Killam is one of the largest owners of manufactured housing communities in Canada.
(Photo credit: Killam Properties, Inc.)