HALIFAX,
NS, March 28, 2024 /CNW/ - Killam Apartment
REIT (TSX: KMP.UN) ("Killam") today announces that Mr. Kay, Chair
of the Board of Trustees (the "Board"), will not stand for
re-election at this year's annual general meeting on May 8, 2024 (the "AGM"), and will retire from the
Board and as the Board Chair at the close of the AGM.
"I would like to thank Mr. Kay for his 22 years
of service and leadership on Killam's Board as a director, and since
May 2013 as the Chair of the Board.
The first two properties purchased by Killam, which were built and owned by Mr. Kay,
became the basis of the qualifying transaction to start
Killam, and on closing, Mr. Kay
joined the Board. His leadership and experience have been
instrumental in making Killam the
entity it is today," stated Philip
Fraser, President and CEO.
The Board of Trustees is also pleased to announce
that James Lawley will become the
new Chair of the Board following his re-election at the AGM. Mr.
Lawley is a long serving Board member with over 40 years of
experience in the multi-residential real estate sector in land
acquisitions, permitting, financing, and overseeing the design and
construction of many multi-family residential projects.
"Over the last three to four years, Killam has been in the process of Board
renewal where original Board members have been retiring, and new,
diverse Board members have been joining Killam. Mr. Lawley, at the pinnacle of his
illustrious real estate career and with his extensive institutional
knowledge of Killam, will continue
to lead Board succession and renewal, positioning Killam's Board for ongoing success," stated
Philip Fraser, President &
CEO.
About Killam Apartment REIT
Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada's largest residential real estate
investment trusts, owning, operating, and developing a $5.0 billion portfolio of apartments and
manufactured home communities. Killam's strategy is to enhance value and
profitability by focusing on three priorities: 1) increasing
earnings from existing operations, 2) expanding the portfolio and
diversifying geographically through accretive acquisitions and
dispositions, with an emphasis on newer properties, and 3)
developing high-quality properties in its core markets.
Note: The Toronto Stock Exchange has neither
approved nor disapproved of the information contained
herein.
SOURCE Killam Apartment Real Estate Investment Trust