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Killam Apartment REIT Announces Disposition of Non-Core Asset in Saint John
Killam Apartment REIT Announces Disposition of Non-Core Asset in Saint John Canada News...
About this update from Killam Apartment Reit
[{"type":"text","content":"\n \n \n \n Killam Apartment REIT Announces Disposition of Non-Core Asset in Saint John\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n HALIFAX, NS\n \n \n ,\n \n \n Sept. 13, 2023\n \n \n /CNW/ - Killam Apartment REIT (\"Killam\" or the \"REIT\") (TSX: KMP.UN) is pleased to announce that it has completed the disposition of Parkwood Apartments in\n \n Saint John, New Brunswick\n \n for gross proceeds of\n \n $15 million\n \n .\n \n \n Parkwood Apartments is a complex containing 20 buildings, built in 1947 and originally acquired by\n \n Killam\n \n in 2004.\n \n \n \"The sale of this property aligns with our strategy to optimize value from our existing portfolio. We continue to explore opportunities to increase overall efficiency of our portfolio and create value for our unitholders. Proceeds from the sale will be allocated towards the repayment of variable rate debt, further strengthening our balance sheet,\" said\n \n Philip Fraser\n \n , President and CEO.\n \n \n About Killam Apartment REIT\n \n \n Killam Apartment REIT, based in\n \n Halifax, Nova Scotia\n \n , is one of\n \n Canada's\n \n largest residential landlords, owning, operating and developing a $5.0 billion portfolio of apartments and manufactured home communities. Killam's strategy to enhance value and profitability focuses on three priorities: 1) increasing earnings from existing operations, 2) expanding the portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.\n \n \n \n Note: The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein. Certain statements in this press release may constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as \"may\", \"will\", \"shoul...