HALIFAX,
NS, Dec. 2, 2024 /CNW/ - Killam Apartment
REIT (TSX: KMP.UN) ("Killam" or the "REIT") is pleased
to announce that it has completed its previously announced plan of
arrangement (the "Arrangement"). The Arrangement became
effective on November 30, 2024 and
simplifies Killam's organizational
structure by eliminating Killam Properties Inc. ("KPI"), a
wholly-owned subsidiary of the REIT, from the structure.
The Arrangement does not change Killam's strategy, portfolio, or
operations. Following the completion of the Arrangement,
unitholders continue to hold the same number, type and percentage
of outstanding units as they held immediately prior to the
Arrangement and the total number of units outstanding remains the
same. The REIT's trust units continue to be listed on the TSX and
retain the same CUSIP number.
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 $5.3 billion portfolio of apartments and
manufactured home communities. Killam's strategy to drive value and
profitability focuses on three priorities: (1) increase earnings
from the existing portfolio; (2) expand the portfolio and diversify
geographically through accretive acquisitions, targeting newer
properties and dispositions of non-core assets; and (3) develop
high-quality properties in its core markets.
For information, please contact:
Claire Hawksworth, CPA
Senior Manager, Investor Relations
chawksworth@killamREIT.com
(902)
442-5322
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," "should," "expect," "intend," "plan,"
"anticipate," "believe," "continue," "remain," or the negative of
these terms or other comparable terminology, and by discussions of
strategies that involve risks and uncertainties. Such
forward-looking statements may include, among other things,
statements regarding: the effects and benefits of the Arrangement,
including on Killam's unitholders;
and Killam's priorities.
Readers should be aware that these statements are subject to
known and unknown risks, uncertainties and other factors that could
cause actual results to differ materially from those anticipated or
implied, or those suggested by any forward-looking statements,
including: risks related to tax legislation and the interpretation
and application thereof; litigation to which Killam may be subject; global, national and
regional economic conditions (including interest rates and
inflation); and the availability of capital to fund further
investments in Killam's business.
For more exhaustive information on these risks and uncertainties,
readers should refer to Killam's
most recently filed annual information form, Killam's most recently filed MD&A, as well
as Killam's management information
circular dated October 18, 2024, each
of which is available on SEDAR+ at www.sedarplus.ca. Given these
uncertainties, readers are cautioned not to place undue reliance on
any forward-looking statements contained in this press release. By
their nature, forward-looking statements involve numerous
assumptions, inherent risks and uncertainties, both general and
specific, that contribute to the possibility that the predictions,
forecasts, projections and various future events may not occur.
Although management believes that the expectations reflected in the
forward-looking statements are reasonable, there can be no
assurance that future results, levels of activity, performance or
achievements will occur as anticipated. Further, a forward-looking
statement speaks only as of the date on which such statement is
made and should not be relied upon as of any other date. While
Killam anticipates that subsequent
events and developments may cause its views to change, Killam does not intend to update or revise any
forward-looking statement, whether as a result of new information,
future events, circumstances, or such other factors that affect
this information, except as required by law. The forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement.
SOURCE Killam Apartment Real Estate Investment Trust