Halifax-based Killam Apartment REIT is the largest landlord in the Atlantic provinces with a $5.3 billion portfolio of 18,835 apartments and 5,975 manufactured homes. More than 60% of its properties are located in Nova Scotia, New Brunswick, PEI, and Newfoundland. However, it also has 26.3% allocation in Ontario, primarily in Kitchener/Waterloo, 9.2% in Alberta, and 3.7% in BC (Victoria).
Income Investor
Killam is a conservatively financed play on continued growth in demand for well-located rental apartments. Debt as percentage of total assets is 41.2%, down from 42.9% in 2023 and the lowest in Killam’s history. Killam is for investors willing to accept a lower but reasonable yield for the prospect of substantial growth in revenues and NOI as new developments come on stream. - Gavin Graham
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KMP.UN was first recommended here on October 8, 2024