TSX:KMP.UNResidential REITs
Killam Apartment REIT (TSX:KMP.UN) Valuation After Forrest Green Acquisition And Discount To Cash Flow Estimate
What the Forrest Green acquisition adds to Killam Apartment REIT
Killam Apartment REIT (TSX:KMP.UN) has added Forrest Green Apartments in Halifax, a 109-suite building purchased for $29.6 million at a 5.0% going-in cap rate, to its portfolio.
The property, built in 1973, consists entirely of larger two- and three-bedroom suites with average monthly rent of $1,860, and management highlights both rent mark-to-market potential and operating cost efficiencies over time.
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