Killam Buying West

As MHProNews reported Nov. 13, 2012, CEO Philip Fraser of Killam Properties, Inc., calling Ottawa (the Canadian capital) “one of the strongest cities for long-term investment in Ontario,” announced the company purchase of a 25%  share with a Kuwaiti company for a 146-unit apartment development. Also in Ottawa, Killam acquired a 244-unit apartment portfolio consisting of four buildings for $24 million. Based in Halifax, Nova Scotia, Canada, net operating income (NOI)  in Q3 2012 rose 0.7% over the same period in 2011. For the 4th quarter 2012, NOI increased 1.4% over Q4 2011. According to Yahoo!Finance Canada, as we reported earlier, Killam will release results for the quarter ending March 31 May 7, 2013, after the close of the market.  Killam operates over 50 manufactured home communities, mostly in Atlantic Canada, comprised of nearly 7,500 homesites.

(Photo credit: Killam Properties, Inc.)


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