03:31 PM EST - Killam Properties Inc. : announced that it has completed the acquisition of a four-building, 244-unit apartment portfolio in Ottawa, Ontario. The portfolio includes 1425 Rosenthal Avenue (54 units), 1440 Mayview Avenue (103 units), 266 Bronson Avenue (43 units), and 621 Cummings Avenue (44 units). The centrally located buildings include 29 bachelor units, 149 one-bedroom units and 66 two-bedroom units, and have an average rent of $837 per month. The purchase price of $24.0 million ($98,400 per suite) was satisfied with the assumption of $13.2 million in existing mortgages with a weighted average interest rate of 4.69%, and the balance in cash. The capitalization rate on the acquisition is 5.6%. Killam Properties Inc.
shares T.KMP are trading up $0.08 at $13.05.
